Reuters: Regulatory News: PRESS DIGEST - Wall Street Journal - June 8

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PRESS DIGEST - Wall Street Journal - June 8 Jun 8th 2012, 06:47 June 8 | Fri Jun 8, 2012 2:47am EDT June 8 (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 Federal Reserve shocked bankers Thursday by approving a proposal that would force even the smallest lenders to comply with the elaborate international bank capital standards known as Basel III. * As sluggish global growth prompts central banks to spring into action once again, the U.S. dollar is emerging as the best of a bad bunch of currencies. * Spain sold more than 2 billion euros ($2.5 billion) in bonds in a closely watched auction Thursday, reflecting rising hopes that the European Union would help recapitalize the struggling Spanish banks that have become the latest flash point in Europe's debt crisis. * Former top executives at Bear Stearns Cos, including James Cayne and Alan Greenberg, have agreed to a $275 million settlement of a shareholder lawsuit over the demise of the Wall Street firm four years ago. * Prosecutors in the insider-trading trial of Rajat Gupta sought to tie together their case for jurors Thursday by condensing a hodgepodge of phone records, trading documents and witness testimony into a concise pattern of events. * Japan's economy expanded at a faster pace than initially estimated in the January-March period, the government said Friday, largely on slightly better capital spending. Japan's gross domestic product grew a price-adjusted 4.7 percent in annualized terms during the first quarter, according to revised data released by the Cabinet Office. That compares with an initial reading of a 4.1 percent expansion released last month. * A federal judge in Illinois said he had "tentatively decided" to dismiss patent litigation between Apple Inc and Motorola Mobility, which was recently acquired by Google Inc . U.S. District Judge Richard Posner canceled a trial in the case, which was set to begin Monday. * Federal Reserve Chairman Ben Bernanke cited significant risks to the U.S. economic recovery but stopped short of signaling Fed action to combat them, during testimony on Capitol Hill Thursday. Link this Share this Digg this Email Reprints

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