Reuters: Regulatory News: PRESS DIGEST - Wall Street Journal - June 6

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PRESS DIGEST - Wall Street Journal - June 6 Jun 6th 2012, 06:01 June 6 | Wed Jun 6, 2012 2:01am EDT June 6 (Reuters) - The following were the top stories in The Wall Street Journal on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy. * Wisconsin Governor Scott Walker withstood a recall effort, dealing a blow to organized labor, unsettling Obama's re-election strategy and signaling to GOP lawmakers that challenging government unions could pay dividends. * Disappointing U.S. economic data, new strains in markets and deepening worries about Europe's fiscal crisis have prompted a shift at the Fed, putting back on the table the possibility of action to spur the recovery. * U.S. defense contractors are preparing to disclose mass job cutbacks ahead of November elections if Congress fails to reach a deficit-reduction deal by then. * The $2 billion JPMorgan loss stemmed from a breakdown in the firm's risk-management activities that started in late 2011. * The regulatory concerns are the latest security questions about the third-party firms that process transactions for banks. * Nasdaq OMX Group is considering offering discounted trading fees to the financial firms that lost money after the exchange botched their trades during the ill-fated debut of Facebook shares. * Italy, where fewer women work compared with most other industrialized countries, is trying to turn a page - starting in the boardroom. A new law requires Italian listed and state-owned companies to ensure that one-third of their board members are women by 2015. Currently, only around 6 percent of the total number of corporate board members in Italy are women - one of the lowest levels in Europe and a number that reflects how few women work here. * The largest U.S. wireless carriers expect to get rid of plans that let subscribers buy only the number of minutes they need and replace them with a flat rate covering unlimited calls. Link this Share this Digg this Email Reprints

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