Reuters: Regulatory News: PRESS DIGEST - Wall Street Journal - June 22

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PRESS DIGEST - Wall Street Journal - June 22 Jun 22nd 2012, 06:16 June 22 | Fri Jun 22, 2012 2:16am EDT June 22 (Reuters) - The following were the top stories in the Wall Street Journal on Friday. Reuters has not verified these stories and does not vouch for their accuracy. * Moody's downgraded more than a dozen global banks, including the five largest U.S. banks with global trading arms, as the industry grapples with a soft economy and tougher regulations. * The ties between a top Goldman Sachs manager and the controversial hedge fund Galleon Group were closer than previously known. * Regulators and investors are concerned that some European banks are artificially boosting a key measure of their financial health, their capital ratios, through the way they assign "risk weightings" to assets. * Some 150 private investment advisers opted to mask the real names of their individual funds when they complied with new rules that forced many hedge-fund firms to register with the SEC this year. * Sales of previously owned homes in May rose sharply compared with a year ago, but dipped from April, underscoring the fragility of the housing market's recovery. * Daniel Rice III, co-manager of $4.4 billion in energy assets at BlackRock Inc, will leave the firm at year end, the world's largest asset-management firm announced Thursday. * A $1.1 billion acquisition of Norit NV, a Dutch maker of carbons for filtration equipment, announced Thursday is expected to mark the onset of a new round of deal activity in the chemicals sector, an industry that so far this year has seen a dearth of deals. * When the U.S. economy began to strengthen earlier this year, companies cut back on layoffs and posted more job openings. What they didn't do was actually step up their hiring. * Business activity in the euro zone contracted sharply in June, a closely watched survey showed, underscoring the currency bloc's deepening economic malaise as it confronts an escalating debt crisis along its southern fringe. * The European Central Bank is poised to relax its collateral rules for central-bank loans in a bid to ease strains on commercial banks in Spain and the rest of Southern Europe, according to people familiar with the matter. * Chesapeake Energy Corp chose former Conoco Inc Chief Executive Archie Dunham to head its retooled board of directors, as the embattled natural-gas giant made good on a pledge to change its leadership in response to intense shareholder pressure. Link this Share this Digg this Email Reprints

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