Reuters: Regulatory News: PRESS DIGEST - Wall Street Journal - May 10

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PRESS DIGEST - Wall Street Journal - May 10 May 10th 2012, 06:26 Thu May 10, 2012 2:26am EDT May 10 (Reuters) - The following were the top stories in The Wall Street Journal on Thursday. Reuters has not verified these stories and does not vouch for their accuracy. * President Barack Obama said Wednesday he supported gay marriage, reversing his position on a controversial social issue just six months before the November election and adopting a stance fraught with uncertain political implications. * The Federal Reserve approved plans by three state-backed Chinese banks to expand in the U.S., including the first acquisition of a U.S. retail-banking network by a state-owned Chinese lender. * Federal regulators this summer might propose new rules for mortgage-lending fees that would require mortgage lenders to charge a flat fee for processing a loan, and limit the amount by which borrowers can reduce their interest rate through "discount points." * Pfizer is quietly ending an aggressive marketing campaign to retain market share for its cholesterol-fighting drug Lipitor. * Robert Stiller, the founder of Green Mountain Coffee Roasters, defended the big loans he took out against his stock holdings to buy real estate and fund other investments. * The European currency seems immune to the chaos that surrounds it. The euro edged lower Wednesday to $1.2930 amid rising political uncertainty sparked by elections in Greece and France. * As questions about Facebook Inc's prospects linger ahead of an initial public offering, the social network revealed how its ad business hasn't kept pace with user growth. Facebook said Wednesday in an amended IPO filing that more than half of its some 900 million users now access its mobile site. In March, its monthly mobile usage grew to 488 million from 425 million in December. * Employees are often required to cede the rights to their designs and inventions to their employers. But Twitter Inc has recently upended that tradition by drafting a policy that will put control over how such patents are enforced into the hands of its engineers and employees. Link this Share this Digg this Email Reprints

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