August 10, 2012 / 6:16 AM / in 5 years

PRESS DIGEST - Wall Street Journal - Aug 10

Aug 10 (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.

* The initial public offering of English soccer club Manchester United Ltd priced lower than its underwriters expected. It sold shares at $14 each, a figure below the $16 to $20 range originally forecast by underwriters led by Jefferies & Co Inc.

* PepsiCo Inc said it reached a deal to distribute its products in Myanmar through a local partner, in the latest sign of rising investor interest in the once-reclusive Southeast Asian nation.

* Yahoo Inc said it could reverse its May decision to return more than $4 billion to shareholders from selling part of its stake in a Chinese internet company, Alibaba Group Holding Ltd, a signal that new Chief Executive Marissa Mayer may want to use the cash for other purposes.

* Google Inc will pay $22.5 million to settle charges that it secretly bypassed the privacy settings of millions of people who use Apple Inc devices, the Federal Trade Commission said.

* Oil-field equipment maker National Oilwell Varco Inc agreed to acquire Robbins & Myers Inc for $2.55 billion, its largest deal yet in a yearlong shopping spree that has strengthened its position atop the sector.

* Barclays Plc named David Walker, a well-established London executive known for his efforts to revamp corporate governance, as the embattled bank’s next chairman.

* China’s CNOOC Ltd said it plans to defend its $15 billion proposed buyout of Canadian oil producer Nexen Inc before United States regulators by describing itself as a publicly traded company that has a record of compliance with U.S. law.

* Nokia Corp said it has agreed to sell its remaining share of software development kit Qt to information-technology firm Digia Oyj for an undisclosed sum and divest a number of patents to United States-based Vringo Inc as the ailing Finnish handset maker continues to divest assets in a bid to return to profitability.

* After a yearlong investigation, the Justice Department said that it won’t bring charges against Goldman Sachs Group Inc or any of its employees for financial fraud related to the mortgage crisis.

* Carlyle Group LP plans to acquire asset manager TCW Group Inc from French bank Société Générale SA, in the latest example of a United States financial firm seeing value in assets that European banks are shedding under regulatory pressure.

* The Adelson center-funded by Las Vegas Sands Corp is now under scrutiny by the Justice Department, the Securities and Exchange Commission, and the company’s audit committee for possible violations of antibribery laws according to company documents and people familiar with the inquiries.

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