June 5, 2012 / 9:13 AM / 6 years ago

PRESS DIGEST - Wall Street Journal - June 5

June 5 (Reuters) - The following were the top stories in The Wall Street Journal on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.

* The CIA is preparing to cut its presence in Iraq to less than half of wartime levels, a move that is largely a result of challenges the CIA faces operating in a country that no longer welcomes a major U.S. presence.


* Germany’s Angela Merkel suggested that European Union leaders consider putting the largest banks in the bloc under direct European supervision.


* Topics discussed at Goldman Sachs board meetings are strictly confidential, the investment bank’s chief executive, Lloyd Blankfein, told jurors at Rajat Gupta’s insider-trading trial.


* Mobile ad networks are using new techniques to target iPhone users by circumventing Apple’s earlier efforts to protect user privacy.


* Private-sector economic data sometimes are faster than government reports. At the very least, such figures can sometimes foreshadow similar measures from the government.


* A Wall Street regulator is pushing to extend conflict-of-interest curbs to include analysts and investment bankers who work in the giant market for debt offerings.

Such controls already exist for Wall Street firms dealing with stocks. But the Financial Industry Regulatory Authority plans to submit by year-end proposed rules for debt, said a spokeswoman. The rules could force firms to build firewalls between investment bankers who pitch debt offerings and research analysts who follow companies issuing the debt.


* Bears looking to profit from a further fall in Facebook Inc took the long view Monday, buying contracts that are liable to pay off if poor earnings this summer add to the company’s run of bad news.


* Yihaodian, a Chinese online retailer backed by Wal-Mart Stores Inc is probing a possible security breach, in what appeared to be the latest attempt to steal consumer data in China’s growing e-commerce sector.


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