April 2, 2014 / 6:01 AM / in 4 years

PRESS DIGEST - Wall Street Journal - April 2

April 2 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

* Securities and Exchange Commission Chairman Mary Jo White said on Tuesday her agency has "a number" of investigations into potentially unlawful trading practices by high-frequency trading firms. (r.reuters.com/sam28v)

* Amid a growing clamor over the role of high-frequency traders in the markets, Virtu Financial Inc has delayed the start of its pitch to investors on its initial public offering. (r.reuters.com/hem28v)

* Samsung Electronics Co Ltd copied Apple Inc's breakthrough iPhone to remain competitive, the U.S. company said as a new round opened in their long-running patent feud. Samsung, meanwhile, countered that it was being targeted as a proxy for Apple's rivalry with Google Inc. (r.reuters.com/jem28v)

* Goldman Sachs Group Inc is close to selling a once-iconic trading business based on the floor of the New York Stock Exchange to Dutch firm IMC Financial Markets, according to people familiar with the matter. (r.reuters.com/qam28v)

* Wells Fargo & Co said Timothy Sloan will leave his current post as finance chief and take over the wholesale banking group, succeeding the retiring David Hoyt. (r.reuters.com/dem28v)

* Comcast Corp's deal to buy Time Warner Cable Inc has run into an unexpected source of turbulence: a weak stock price. In the nearly seven weeks since the deal was announced, Comcast's share price has dropped nearly 10 percent, reducing the value of its all-stock offer for Time Warner Cable to $143.55 a share from $158.82 per share when it was announced. (link.reuters.com/zem28v)

* A U.S. judge on Tuesday ordered Mt. Gox founder and Chief Executive Mark Karpeles to come to Texas, where the Japanese exchange has filed for U.S. bankruptcy protection. At a hearing in U.S. Bankruptcy Court in Dallas, Judge Stacey Jernigan set an April 17 date for Mr. Karpeles to answer questions under oath from lawyers who represent customers with frozen bitcoin accounts. (r.reuters.com/vem28v)

* Two banks have dropped their lawsuit against Target Corp and its security assessor, Trustwave Holdings Inc, following the theft of 40 million credit and debit card numbers from the retailer last year, according to court documents. (r.reuters.com/mem28v)

* Federal prosecutors have brought a rare criminal case against PG&E Corp's San Francisco utility over a 2010 fatal pipeline explosion in San Bruno, California, charging the company with knowingly breaking federal safety rules.(r.reuters.com/mam28v)

* Banks are turning to overdraft fees as revenue fall on deposit accounts, despite the Federal Reserve stopping them in 2010 from automatically charging customers overdraft fees on debit-card and automated-teller-machine transactions. (r.reuters.com/vam28v)

* Investors pulled $3.1 billion from Bill Gross's Pimco Total Return Fund in March, marking the 11th consecutive month of outflows at the marquee fund for Pacific Investment Management Co. The data, released late Tuesday by fund-research firm Morningstar Inc, underscores the challenges confronting the Newport Beach, California-based money manager following a year of record redemptions and a management shake-up. (r.reuters.com/pem28v)

* BlackBerry Ltd said late Tuesday that it is ending its licensing agreement with T-Mobile Inc when it expires later this month, a surprise move that comes two months after the two companies' chief executives sparred online. (r.reuters.com/rem28v)

* Executives of PricewaterhouseCoopers were put on the spot at a Senate subcommittee hearing on Tuesday by a public reading of their emails discussing how to preserve overseas tax benefits for client Caterpillar Inc. In one 2008 email, Thomas F. Quinn, a PwC tax partner, warned that the giant maker of construction and mining equipment might lose tax benefits if some Swiss-based product managers relocated to the U.S. (r.reuters.com/sem28v)

* The spring thaw helped push U.S. auto sales in March to one of the strongest rates in years, putting the industry back on track for growth this year after two months of winter doldrums. (r.reuters.com/kem28v) (Compiled by Ankush Sharma in Bangalore)

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