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PRESS DIGEST - Wall Street Journal - April 26
April 26, 2012 / 6:50 AM / 6 years ago

PRESS DIGEST - Wall Street Journal - April 26

April 25 (Reuters) - The following were the top stories in The Wall Street Journal on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.

* Supreme Court justices challenged the Obama administration’s assertions that Arizona exceeded its powers by directing police officers to check the immigration status of people they stop.

* Federal Reserve officials reaffirmed their plan to keep short-term interest rates near zero until late 2014 to support economic growth, but hints emerged of policy makers’ diverging views about how the central bank might proceed.

* News Corp Chairman and Chief Executive Rupert Murdoch on Wednesday faced a recitation of criticisms that have piled up at his door during a long career, including allegations that he uses his company’s newspapers to collect political favors and push his commercial interests.

* The Securities and Exchange Commission faced fresh questions about its efforts to attract whistleblowers who might help regulators uncover wrongdoing on Wall Street, following revelations that the agency unwittingly revealed a tipster’s identity during a probe.

* Two bundles of bonds that once helped sicken American International Group Inc now have Wall Street salivating.

Some of the biggest banks are teaming up to jockey for the securities, which may be sold in coming days by the Federal Reserve Bank of New York. The banks would then sell the bonds off to clients such as money managers, hedge funds and insurance companies.

* Groupon Inc Chief Executive Andrew Mason told the company’s employees on Wednesday that the daily-deals site needs to grow up - right after he apologized for drinking too much beer.

* Bank of America Corp and UBS AG are battling for star bankers and wrestling with major defections in a high-stakes fight that threatens to cost them clients at a time when both institutions are retooling their investment-banking operations.

The latest strike came Wednesday as Bank of America said it hired Alex Wilmot-Sitwell, a veteran banker at UBS who will lead Bank of America Merrill Lynch’s businesses across Europe and emerging markets excluding Asia.

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