August 8, 2013 / 5:10 AM / 4 years ago

PRESS DIGEST - Wall Street Journal - Aug 8

3 Min Read

Aug 8 (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.

* The Justice Department is targeting banks that service a broad range of what it considers questionable financial ventures, including online payday lenders. The government has issued subpoenas to banks and other companies that handle payments for an array of financial offerings, ramping up an investigation that has been under way for several months. ()

* Google Inc's Android software continues to steamroll the competition in smartphones, posing bigger problems for companies like Apple Inc and BlackBerry Ltd . According to research firm IDC, Apple's share of the global market slid to 13.2 percent in the second quarter from 16.6 percent in the year earlier period. ()

* Groupon Inc on Wednesday named co-founder and interim co-chief executive Eric Lefkofsky as its permanent CEO. It also said second-quarter revenue rose 7 percent on the back of surging North American sales. ()

* Hotel chain Hilton Worldwide Inc is preparing for a return to the public markets, choosing four banks to manage a share sale as the hotel group's private equity owner looks to capitalize on a rebounding real estate market and strong investor demand for initial public offerings. ()

* A year and a half after being spun off by Expedia Inc , TripAdvisor Inc redesigned its website to show shoppers more hotel options right there among its traveler reviews, rather than referring them to sites like Expedia's via pop-up windows. Expedia relies on bookings. TripAdvisor depends on ads. But both are vying to be travelers' first stop online.()

* The Ochs-Sulzberger family that owns the New York Times Co declared the newspaper was "not for sale," making clear it wouldn't follow the decision of the Washington Post's family owners to exit the newspaper industry. ()

* Energy companies have been selling billions of dollars of aging oil-and-gas fields to partnerships that are flush with cash from individual investors. Critics are raising questions about the soundness of these partnerships, saying that they use accounting maneuvers to understate their costs, and warn that this source of easy money for energy companies could soon dry up. ()

* A federal appeals court in Washington handed Apple Inc another significant patent victory, reviving the iPhone maker's claims against Google Inc's Motorola Mobility unit over two significant patents for smartphone touchscreens.

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