Dec 11 (Reuters) – The following are the top stories in the
Wall Street Journal on Tuesday. Reuters has not verified these
stories and does not vouch for their accuracy.
* The Manhattan U.S. attorney’s office has launched a broad
criminal investigation into whether seven corporate executives
cited in a recent Wall Street Journal article traded improperly
in shares of their own company’s stock, according to a person
familiar with the matter. ()
* HSBC Holdings Plc plans to acknowledge that for
years it ignored possible money laundering, part of a record
$1.9 billion settlement with U.S. authorities that caps the
bank’s disastrous foray into the U.S. market. ()
* Standard Chartered Plc agreed to pay $327 million
in penalties for alleged violations of U.S. sanctions against
Iran, Libya and other nations, closing another chapter in the
U.S. crackdown on banks sidestepping restrictions meant to
prevent money laundering. ()
* A 2011 inspection conducted for a supplier to Wal-Mart
Stores Inc found serious fire-safety concerns at a
clothing factory outside Dhaka, Bangladesh, that burned down
last month, killing 112 people, according to documents reviewed
by the Wall Street Journal. ()
* The Treasury Department said Monday it plans to sell all
of its remaining shares in AIG Inc. ()
* Morgan Stanley might soon ask U.S. regulators to
let the securities firm buy back shares for the first time in
more than four years, according to people familiar with the
firm’s thinking. ()
* SPX Corp has emerged as the front-runner in the
auction of industrial-pumps maker Gardner Denver Inc,
with the two companies entering into one-on-one talks this week
with the goal of hammering out a deal, people familiar with the
matter said. ()
* European Union authorities are considering launching a
legal crackdown on some national regulators for restricting
European banks from freely moving funds across national borders,
according to officials familiar with the matter. ()
* McDonald’s Corp surprised investors on Monday by
reporting higher November sales at restaurants open at least 13
months, but analysts remain cautious about the months ahead. ()
* Intel Corp on Monday disclosed details of a new
recipe for making chips for mobile devices, a key element of the
technology giant’s high-stakes campaign to improve its lagging
position in that fast-growing market. ()
* Federal Reserve officials, frustrated with the sluggish
job market and tepid growth, are poised this week to extend the
central bank’s efforts to spur a stronger recovery. ()
* Bank of England Governor Mervyn King warned of the risk of
currency wars in the coming year as nations search for new ways
to spur their economies in a world of slow growth and few other
good options. ()
* North America will become a net energy exporter by 2025,
thanks to a surge in oil and gas production and rapid
improvements in energy efficiency, Exxon Mobil Corp
predicts in its latest long-term energy outlook. ()
