Reuters: Regulatory News: PRESS DIGEST - Wall Street Journal - May 15

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PRESS DIGEST - Wall Street Journal - May 15 May 15th 2013, 04:59 Wed May 15, 2013 12:59am EDT May 15 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy. * Hedge fund billionaire Daniel Loeb's campaign to pressure Sony Corp into spinning off its entertainment arm is the latest tremor to ripple through Japan's electronics industry, already reeling from unprecedented losses stemming from its lost standing in the technology world. () * Some of the hedge funds that made fortunes in the housing-market crash are now betting on the recovery of Fannie Mae and Freddie Mac, the government-controlled mortgage giants. Paulson & Co and Perry Capital LLC are among a handful of hedge fund firms that have bought preferred shares in Fannie and Freddie, which collapsed in value in 2008 after the companies were taken over by the federal government. () * Standard & Poor's Ratings Services president Douglas Peterson said that a proposal to upend the credit rating firms' business model could create new conflicts of interest and disrupt financial markets. () * Google Inc is set to launch a paid subscription music streaming service akin to that of Spotify AB as soon as this week, according to people familiar with the matter. () * Some restaurant operators are scaling back expansion plans because of uncertainty about the expense of insuring employees under the new federal health-care law. The concerns are especially acute among smaller operators who are more likely to be on the cusp of the Affordable Care Act's requirements for increased coverage of workers. The doubt is adding to anxiety over other rising costs for items like ingredients at a time when diners are cutting back on eating out. () * Securities and Exchange Commission (SEC) Chairman Mary Jo White is eyeing a Charles Schwab Corp executive for a top post overseeing trading firms and stock exchanges, according to a person familiar with the talks. () * Walt Disney Co's ABC is thinking outside the four-cornered, single-screen box. On Tuesday it became the first major broadcast network to let viewers live-stream programming onto iPhones and iPads. It will do so for local stations in New York and Philadelphia and plans to release the new app in more markets this summer. () Link this Share this Digg this Email Reprints

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