July 8, 2013 / 5:44 AM / in 4 years

PRESS DIGEST - Wall Street Journal - July 8

July 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.

* In classified orders starting in the mid-2000s, the Foreign Intelligence Surveillance Court, a group of judges responsible for making decisions about government surveillance in national-security cases, accepted that the word “relevant” could be broadened to permit an entire database of records on millions of people. ()

* The deadly weekend explosion of a runaway crude-carrying train in Quebec threatens to ratchet up scrutiny of rising crude-by-rail shipments on both sides of the U.S.-Canada border, amid a boom in North American oil production. ()

* The United States is launching broad trade talks with Europe this week and preparing for the next stage of negotiations with select Asia-Pacific nations, part of the Obama administration’s effort to find new fuel for economic growth. ()

* Larry Summers, a former top economic adviser to President Barack Obama, is said to be more than a little interested in taking over as Fed chairman if the job opens up. ()

* The so-called Volcker rule is designed to place a buffer between banks and the risks they take, but one aspect has left broad confusion among banks, their employees and clients. As regulators finalize the rule, banks are reaching widely different interpretations of what that employee-participation measure means. ()

* In the insider trading investigation of hedge fund billionaire Steven Cohen, the U.S. government playbook looks to be missing two important elements: incriminating wiretaps and well positioned cooperators. ()

* Former New York Governor Eliot Spitzer, who resigned in 2008 after he was caught patronizing prostitutes, said Sunday night he is launching an 11th-hour bid for the Democratic nomination for New York City comptroller. ()

* Despite low interest rates, French companies and entrepreneurs are cutting back on their investments. They are delaying plans to expand existing factories, and canceling plans to build new ones. ()

* Douglas Dayton, who led the transformation of a family department store into retailing giant Target Corp, has died Friday, at the age of 88, after a long battle with cancer. ()

* Thomson Reuters Corp has decided to stop giving an elite group of investors an early peek at the results of a market moving consumer confidence survey from the University of Michigan after regulators in New York began looking into the arrangement ().

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