Reuters: Regulatory News: PRESS DIGEST - Wall Street Journal - June 24

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PRESS DIGEST - Wall Street Journal - June 24 Jun 24th 2013, 05:08 June 24 | Mon Jun 24, 2013 1:08am EDT June 24 (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. * A global cat-and-mouse game involving the admitted leaker of National Security Agency secrets exploded into a diplomatic scramble, as U.S. authorities sought to catch Edward Snowden before he reached what supporters say is his next goal: political asylum in Ecuador. () * Federal officials are cracking down on fraud in student-aid programs, responding to evidence that a growing number of recipients are pocketing federal loans and grants without any intent of going to school. () * Banks have floated to federal regulators a proposal on how to pay for a restructuring of the nation's largest financial institutions in the event of a future crisis. () * Chinese companies are under growing financial pressure as the country's economic growth slows. So industries ranging from airlines to steel to consumer appliances increasingly are leaning on the Chinese government. Government aid to Chinese publicly traded companies rose 23 percent last year. () * Most Australians think the government is allowing too much Chinese investment, a poll suggests, even as ownership of local assets by the nation's biggest trading partner remains relatively small. () * Four years in, the U.S. recovery is slowly gaining steam. Many economists predict 2014 will be the best year for growth since 2005, and joblessness is expected to dip below 7 percent next year for the first time since 2008. () * U.S. airline passengers, eager to be able to start using electronic devices throughout their flights, have months to wait until new rules are hammered out. () * Chevrolet's next brand chief, Alan Batey, aims to make the cars once sold as the "Heartbeat of America" able to quicken pulses when cruising Beijing, Sao Paulo or Moscow. Chevys account for 70 percent of General Motor's about 9.3 million in global vehicle sales and were a big chunk of its $152.26 billion in 2012 sales. () * Facebook is quietly working on a service, internally called Reader, that displays content from users and publishers in a format tailored for mobile devices. Such mobile-focused endeavors are critical as Facebook tries to jump-start its sagging stock price. () * Starbucks Corp said it paid UK corporation tax for the first time since 2008, a move that followed sustained pressure from the British government, which continues to heap pressure on companies that seek to minimize tax payments on their earning. () Link this Share this Digg this Email Reprints

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