August 16, 2013 / 5:24 AM / in 4 years

PRESS DIGEST - Wall Street Journal - Aug 16

Aug 16 (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.

* Hundreds of Muslim Brotherhood supporters gathered at a Cairo mosque in defiance of a national curfew even as the regime gave its forces live ammunition and the authorization to use it-setting up a showdown two days after Egypt’s worst violence in memory left more than 600 dead. ()

* Individual investors are pouring tens of billions of dollars into a new generation of complex investment products, and regulators are raising concerns that not all buyers understand the costs and risks. ()

* The Federal Reserve could hedge its bets by making small moves rather than large, aggressive ones when it starts pulling back on its $85 billion-a-month bond-buying program, said James Bullard, president of the Federal Reserve Bank of St. Louis.()

* Ford Motor said it would cut the fuel-economy rating for its C-Max hybrid, following an investigation by the U.S. Environmental Protection Agency that triggered a broader review of the mileage claims for gas-electric hybrid vehicles. Ford, which is facing lawsuits over the C-Max’s mileage from some disappointed customers, said it will send refund checks to customers. It isn’t clear how much the refund will cost the company. ()

* Sony took the lead in the race to build an online version of pay TV, with a preliminary deal to carry Viacom channels on the service it hopes to launch next year. ()

* The private-equity owner of IMG Worldwide Inc has begun formally soliciting buyers for the talent and marketing agency, distributing financial information to potential suitors within the last week, according to people familiar with the matter. ()

* Some retailers aren’t happy with Gmail’s recent changes, which siphon off the flow of promotional offers to a separate inbox that also includes ads from Google. Marketers complain that the ads sold by Google threaten to draw attention away from the coupons and pitch emails they want their targets to read first. ()

* Rio Tinto plans to cut as many as 1,700 jobs at its newly built Oyu Tolgoi mine after halting a more than $5 billion underground expansion of the Mongolian operation amid a dispute with the government. ()

* At a time when politicians in Washington struggle to agree on anything, their Mexican counterparts - who spent the past dozen years locked in bruising battles - sit down almost daily to talk about thorny issues. ()

* Boeing Co says it has traced the improperly assembled engine-fire extinguishers on 787 Dreamliners to the manufacturing of bottles at a supplier’s facility. Dreamliner operators have been conducting inspections recommended by Boeing of engine fire-extinguishing systems after three All Nippon Airways jets were found to be improperly configured. ()

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