Reuters: Regulatory News: PRESS DIGEST - Wall Street Journal - Aug 2

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PRESS DIGEST - Wall Street Journal - Aug 2 Aug 2nd 2013, 05:17 Fri Aug 2, 2013 1:17am EDT Aug 2 (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. * Russia granted asylum to National Security Agency leaker Edward Snowden, defying and embarrassing an Obama administration that threatened to scale back diplomatic relations between the two countries. () * A jury found former Goldman Sachs Group Inc trader Fabrice Tourre liable for misleading investors in a mortgage-linked deal that collapsed during the financial crisis, delivering a big win for the Securities Exchange Commission out to prove its mettle inside the courtroom. () * Intensifying a dispute within his own party, Senate Majority Leader Harry Reid issued a warning on Thursday to Senator Max Baucus, the Democrats' lead tax-law writer in the senate, not to proceed with an overhaul of the tax code unless there is "significant revenue" to be generated from the effort. () * Baxter International Inc investigated a joint venture in China and discovered expense violations there last year. The drug and medical-device maker said it conducted the investigation and "took actions in a prompt and responsible manner" after employees of the venture, Guangzhou Baxter Qiaoguang Healthcare Co, reported problems internally in July 2012. The disclosure comes amid heightened attention on how multinational drug makers sell in China. () * In the wake of the financial crisis, global financial regulators implemented a labyrinth of new rules to constrain banks. Now, regulators in the United States and Europe are starting to conclude the way they currently measure banks' exposure to risk may be too elaborate. () * As Google Inc pushes deeper into hardware, the Internet search giant is pulling Motorola Mobility closer even as it tries to assure device partners that the phone maker won't have an unfair advantage. Google is forming tighter connections with the cellphone maker, even debating whether it could be used to produce products like Google Glass, the company's wearable computer. () * The pain reliever acetaminophen, often sold as Tylenol, can cause rare but serious skin diseases, the Food and Drug Administration said on Thursday. The FDA said that in searching its database of adverse events, it found 107 such cases between 1969 and 2012. () * Sprouts Farmers Market Inc's shares more-than-doubled after the specialty grocery chain's initial public offering, the latest sign of healthy demand for natural-foods retailers. Sprouts' stock rose 123 percent to close at $40.11 on the Nasdaq on Thursday, from an offering price of $18, the largest first-day pop for a U.S.-listed IPO since March 2011. () * Carl Icahn has filed a lawsuit against Dell Inc and its board to prevent the computer maker from further delaying a vote scheduled on Friday or changing the voting rules for a proposed buyout by Michael Dell. () * Chesapeake Energy Corp's shares jumped 7 percent on Thursday to the highest level in more than a year, as the energy producer reported rising oil output and its new chief executive Doug Lawler pledged to close a persistent gap between its spending and cash flow by next year. () Link this Share this Digg this Email Reprints

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