Reuters: Regulatory News: PRESS DIGEST - Wall Street Journal - July 18

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PRESS DIGEST - Wall Street Journal - July 18 Jul 18th 2012, 05:59 July 18 | Wed Jul 18, 2012 1:59am EDT July 18 (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. * Peregrine Financial Group Inc's founder said he spent most of the money allegedly embezzled from customers to cushion his trading firm's capital, fund a new corporate headquarters -- and even to pay regulatory fines and fees, according to previously undisclosed parts of letters left when he attempted suicide. * Goldman Sachs Group Inc's profit shrank 11 percent in the second quarter, and the securities firm launched a new wave of cost cutting to offset chronically weak returns from trading and investment banking. * David Bagley -- the top executive in charge of HSBC Holdings Plc's anti-money-laundering programs told lawmakers he is stepping down in the wake of a Senate investigation into risky practices at the global banking giant. * The supervisory board of General Motors Co's Opel unit named Thomas Sedran as interim chief to restructure the European brand and stem hefty losses amid deteriorating regional demand for new cars. * BlackRock Inc recently tested its new bond-trading platform without telling the Wall Street securities dealers that dominate that business, a move that miffed some traders at the banks in the latest sign of tension over who ultimately will control securities trading. * The Bank of England and its governor, Mervyn King, came under fresh pressure Tuesday over their failure over several years to catch efforts by Barclays Plc to manipulate interest rates, further complicating the central bank's effort to find a successor for King. * Vivendi SA is working with two investment banks to explore the sale of videogame giant Activision Blizzard Inc , in which the French conglomerate owns a majority stake, people familiar with the matter said. * Intel Corp reported a 4 percent drop in second-quarter profit and lowered its financial guidance for the year, acknowledging weaker demand for personal computers that is affecting many companies in the technology sector. Link this Share this Digg this Email Reprints

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