September 27, 2012 / 6:28 AM / 5 years ago

PRESS DIGEST - Wall Street Journal - Sept 27

Sept 27 (Reuters) - The following are the top stories in the Wall Street Journal on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.

* Both presidential campaigns rolled into the crucial swing state of Ohio on Wednesday with new urgency, as Mitt Romney fought for a jolt of momentum and President Barack Obama looked to solidify his standing after inching further ahead in polls in the state.

* Procter & Gamble Co Chief Executive Robert McDonald, under pressure from a hedge-fund manager, has to deliver on cost-cutting and product-refocus plans.

* Sears Holdings Corp and Darden Restaurants Inc are planning a radical shift in the way they provide health benefits to their workers.

* Spain’s prospects of avoiding a government bailout appeared to recede as pessimism pervaded the country’s financial markets and pushed its borrowing costs higher.

* U.K. authorities arrested a former Credit Suisse Group AG banker on U.S. allegations that he conspired to inflate the values of mortgage bonds during the financial crisis.

* A combination of EADS and BAE Systems Plc would bring together two different aviation businesses led by two equally different chief executives: Enders and King.

* Workers at China’s huge Foxconn Technology Ltd factory said tensions over strict rules helped spur this week’s rioting, in events that raise questions about the sustainability of China’s manufacturing machine.

* The U.S. said it would begin to ease a long-standing import ban on Myanmar, providing a boost to President Thein Sein as he carries out political and economic overhauls that have transformed the former military state into a hot Asian frontier market.

* U.S. securities regulators have launched a sweeping review of the systems brokerages and trading firms use to place orders, intensifying their response to a spate of technological mishaps that have tested investors’ confidence in the stock market.

* The Canadian Auto Workers union said late on Wednesday that it has reached a new tentative labor contract with Chrysler Group LLC, the last of the three Detroit auto makers to sign a deal that secures labor peace for four more years but doesn’t narrow the cost gap between Canadian and American workers as much as the auto makers had wanted.

* When Research In Motion Ltd reports its second-quarter earnings Thursday, most analysts expect another round of grim results for the BlackBerry maker as its share of the smartphone market continues to shrink.

Despite the gloom and doom, the company did manage to offer a few faint rays of hope during its annual conference for developers this week.

* After decades of virtually ignoring the highest coffee-consumption market in the world, Starbucks Corp’s Europe chief is looking to give a swift and substantial jolt to the coffee giant’s tiny presence in the pricey Nordic region.

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