April 29, 2011 / 6:35 AM / 7 years ago

PRESS DIGEST - Wall Street Journal - April 29

April 29 (Reuters) - The following were the top stories in The Wall Street Journal on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

* While investors and the public have concerns about short-term price increases, long-term inflation-expectation gauges show they appear to have confidence in U.S. Federal Reserve Chairman Ben Bernanke’s ability to control inflation over the long-term.

* Under orders from U.S. regulators, 14 financial institutions have until mid-June to lay out plans to clean up their mortgage-servicing operations-and another 60 days to make the changes. But progress is uneven.

* The U.S. dollar fell Thursday to its lowest point since the summer of 2008, but officials aren’t showing signs that they are alarmed by the currency’s descent or acting to stem it.

* Silver’s surge is hurting major users of the precious metal and even a few miners, including some blindsided by the relentless climb.

* The Obama administration asked food makers that market to children to sharply limit advertising of foods high in sodium, saturated fat and added sugars, in an effort to curb obesity.

* Samsung Electronics Co said its first-quarter profit fell 30 percent to 2.78 trillion won, or $2.6 billion, as its TV-component business tumbled into the red and semiconductors and televisions brought smaller profits.

* Research In Motion Ltd warned of slack sales for its BlackBerry smartphones in the current quarter. The warning, just a month after the company reported earnings and gave a weak short-term outlook, is fresh evidence that RIM is struggling to compete with Apple Inc and other smartphone makers, especially in the U.S. market.

* Microsoft Corp’s quarterly profit rose sharply thanks to strong sales of its Office and Xbox products, though the software maker is feeling the effects of weakening demand for traditional personal computers amid increased competition from tablet devices.

* NYSE Euronext shareholders urged the company to open merger discussions with rival Nasdaq OMX Group , but the New York Stock Exchange owner defended its position that straying from a pending deal with Frankfurt’s Deutsche Boerse DB1Gn.DE would be a mistake.

* Economic growth stumbled in the first quarter, but most economists see it as a passing phase caused by a combination of bad weather and surging prices. Gross domestic product -- the tally of all the goods and services produced by the nation --expanded at a 1.8 percent annual rate in the first three months of the year, the government said. That is down from 3.1 percent growth in the fourth quarter of 2010.

* Now that a committee of Berkshire Hathaway Inc BRKa.N directors has passed judgment on the controversy over David Sokol’s personal stock purchases, shareholders of the conglomerate are waiting to hear Buffett’s personal view of the conduct of one of his former top lieutenants. The billionaire chairman and chief executive of Berkshire will address thousands of shareholders this Saturday at his annual “Woodstock for Capitalists” in his hometown and answer questions about the affair.

* Prince William’s marriage to Kate Middleton marks a major milestone in the British monarchy’s long effort to repair the family business -- and a step toward a different and uncertain future for the world’s most prominent royal clan.

* Residents of Alabama, Mississippi and four other Southern states picked through their splintered communities as state and federal authorities mobilized to clean up and rebuild after scores of powerful tornadoes killed nearly 300 people in the most deadly storm cluster to hit the nation in 37 years. (Compiled by Tenzin Pema; Bangalore Equities Newsdesk +91 80 4135 5800; within U.S. +1 646 223 8780)

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