PRESS DIGEST - Wall Street Journal - April 3
April 3 (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.
* Rio Tinto Plc is seeking a buyer for controlling stakes in two Australian coal mines, the latest $1 billion-plus asset sale targeted by the mining company as it looks to cut costs and boost shareholder returns, people familiar with the matter said on Wednesday. ()
* The Barclays Plc U.S. Aggregate Bond Index, known as "the Agg" - which tracks the broader debt market the way the Standard & Poor's-500 follows stocks - declined 0.12 percent in the first quarter, its first negative return in that period since 2006. ()
* J.C. Penney Co Inc awarded no bonuses or stock awards to Chief Executive Ron Johnson or his chief operating officer for the last fiscal year, when the department store chain's sales fell by 25 percent and its stock fell by half. ()
* The U.S. Securities and Exchange Commission backed companies' use of social media such as Facebook Inc and Twitter Inc to disclose important information, so long as investors have been told which outlets will be used. ()
* A group of holdout creditors, led by hedge funds Aurelius Capital Management and Elliott Management Corp unit NML Capital Ltd, must respond by mid-April to a new proposal by Argentina to offer restructured bonds in hopes of resolving litigation that has prevented it from making payments on its previously restructured debt, a U.S. appeals court said on Tuesday. ()
* Shares of health insurance companies, including Humana Inc , UnitedHealth Group Inc and Cigna Corp, soared on Tuesday after U.S. federal officials scrapped proposed payment cuts to carriers that run Medicare plans amid pressure from senior citizens and lawmakers. ()
* Arkansas lawmakers are considering $125 million in state financing for a new $1.1 billion steel plant - a test of the political appetite for government subsidies for companies at a time of economic weakness. ()
* Tesla Motors Inc after building anticipation for several days with social-media teasers promising a significant development, on Tuesday said it would do what all other makers have done for years: offer lease financing on its electric cars. ()
* Reserve Bank of Australia Governor Glenn Stevens has been reappointed for a further three years, the country's Treasurer Wayne Swan said on Wednesday at a news conference in Canberra.
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.