August 2, 2012 / 6:10 AM / 7 years ago

PRESS DIGEST - Wall Street Journal - Aug 2

Aug 2 (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.

* Google Inc unveiled changes to its mobile-payment system in a bid to get the upper hand in the battle for control of consumers’ “digital wallets.”

* John Quinn, a lawyer for Samsung Electronics Co Ltd , said the company’s decision to send reporters disputed evidence in its patent case with Apple Inc was “lawful” and “ethical,” responding to federal Judge Lucy Koh’s request to explain the unusual move.

* The global economy is experiencing a widespread “decline of confidence” as problems mount in the euro zone and beyond, International Monetary Fund Managing Director Christine Lagarde said.

* Irving Picard, the court-appointed trustee handling the Bernard Madoff bankruptcy, is in a legal tug of war with the New York attorney general over $410 million for victims of the Ponzi scheme.

* A federal jury awarded $1 billion to Monsanto Co in a patent-infringement lawsuit against rival DuPont Co over Monsanto’s Roundup Ready seed technology.

* Standard Chartered Plc said it was confident it could ride out slowing growth in Asia and hit its full-year financial targets, as the lender continued to steal market share from European banks.

* Chevron Corp and offshore driller Transocean Ltd face another legal hurdle in Brazil, where a court barred the companies from producing or transporting oil until an investigation into an oil spill is completed.

* American International Group Inc is looking to buy back a large amount of its shares from the government, according to people familiar with the company’s thinking.

* A state court judge in California ruled that Oracle Corp is contractually obligated to develop software for some high-profile server systems sold by Hewlett-Packard Co.

* An electronic-trading glitch roiled trading in nearly 150 stocks early Wednesday, sparking confusion among traders and investors and further undermining confidence in the basic machinery of financial markets.

* In an uncharacteristically strong statement, the Fed said it will “closely monitor” the economy and “will provide additional accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions.”

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below