Reuters: Regulatory News: PRESS DIGEST - Wall Street Journal - June 28

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PRESS DIGEST - Wall Street Journal - June 28 Jun 28th 2012, 05:58 June 28 | Thu Jun 28, 2012 1:58am EDT June 28 (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. * News Corp board approved a plan to split the conglomerate in two pieces, separating its lucrative entertainment operations from its publishing business, said a person familiar with the situation. * OxyContin is set to go off patent next year, but the maker of the heavily abused painkiller is trying to extend its exclusive rights to the drug, arguing that a new version it spent $100 million to develop might curtail abuse. * No matter how the U.S. Supreme Court rules on the federal healthcare law, states will face huge struggles paying for ballooning health expenses and swelling uninsured populations, a problem that has prompted some states to draft their own overhaul plans. * Barclays Plc agreed to pay $453 million in fines to U.S. and U.K. regulators after admitting that traders and executives tried to manipulate interest rates tied to loans and financial contracts around the world. * Google Inc unveiled a new tablet computer called the Nexus 7 that rivals Amazon.com's Kindle Fire in both size and price. * Research In Motion is expected to report an operating loss Thursday following a decline caused partly by overconfidence in its keyboard devices amid the rise of app-loaded touch-screen smartphones. * A U.S. financial regulator warned that new rules may be needed to address hidden dangers in reverse mortgages, the special loans that enable cash-strapped seniors to borrow against the equity in their homes. * Delaware's legislature on Wednesday passed a law that could make the state the first to open its population to a full range of legal online gambling, including Internet blackjack, poker and slot games. * The brother of convicted Ponzi scheme operator Bernard Madoff will plead guilty to criminal charges, marking the first time a family member has admitted guilt since the fraud came to light more than three years ago. * Xstrata Plc and Glencore International Plc agreed on Wednesday to revise a key element of their landmark merger, shifting the focus now to whether Glencore is willing to sweeten the price to quell a shareholder rebellion over terms of the deal. * Spanish-owned banks aren't the only ones under pressure to fortify themselves against Spain's crumbling economy. Foreign banks with big Spanish operations also find themselves in a tough position and with few options. * U.S. securities regulators accused hedge-fund manager Philip Falcone of putting his own interests, including Manhattan townhouses, a security detail and other trappings of a "lavish lifestyle," ahead of investors in his firm, Harbinger Capital Partners. * European leaders embark on talks Thursday over steps they hope will begin to lift doubts about the survival of the euro, amid heavy skepticism in financial markets. * Americans by a wide margin favor President Barack Obama's new policy of halting deportations of many young illegal immigrants brought to the U.S. as children, a new poll shows. * Italy's Parliament approved a landmark overhaul of the country's labor law on Wednesday, boosting Prime Minister Mario Monti's position ahead of a critical summit of European leaders in Brussels. Link this Share this Digg this Email Reprints

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