PRESS DIGEST - Wall Street Journal - Oct 9

Oct 9 (Reuters) - The following are the top stories in theWall Street Journal on Tuesday. Reuters has not verified thesestories and does not vouch for their accuracy.

* The global economy risks skidding toward recession justthree years after pulling out of the previous one, theInternational Monetary Fund warned, adding that fighting arenewed world-wide downturn will be much more complex than itwas in 2009.

* Chinese telecommunications giant Huawei Technologies

lashed out Monday at a scathing congressional report,calling allegations that it may be spying on Americans andviolating U.S. laws "little more than an exercise inChina-bashing".

* BP Plc said Monday it has sold the large Texas Cityrefinery, scene of a fatal industrial accident in 2005, toMarathon Petroleum Corp in a deal worth up to $2.5billion.

* UnitedHealth Group Inc's $4.3 billion deal to takeover Brazil's Amil Participações SA represents amajor bet on the international future of the health-carebusiness, part of a broader effort by American insurers andhospital operators to seek growth overseas.

* The biggest shareholder in BAE Systems Plc has"significant reservations" about a proposed merger with EADS

because it may harm the company's ability to win U.S.defense contracts.

* U.S. banks and the Federal Reserve are battling over a newround of "stress tests" even before the annual exams get goinglater this fall.

The clash centers on the math regulators are using toproduce the results. Bankers want more detail on how thecalculations are made, and the Fed thus far has resisteddisclosing more than it has already.

* American Express Co and Wal-Mart Stores Inc

are rolling out a new prepaid card in the retailer'sstores and online, opening up a new revenue stream and offeringwhat they call a cheaper alternative to traditional debit cards.

* Coca-Cola Co , PepsiCo Inc and Dr PepperSnapple Group will start displaying their drinks'calories on vending machines next year and point consumerstoward less sugary versions, their latest response to criticswho have singled them out for contributing to the nation'sobesity epidemic.

* An experimental Alzheimer's treatment from Eli Lilly & Co

slowed memory loss by 42 percent in patients with a mildform of the memory-robbing disease in one drug trial and showedpositive signs of doing so in another study, according to newdata presented on Monday.

* Calxeda Inc, a start-up that provides chips for a newbreed of server systems, has raised an additional $55 million ascomputer makers like Hewlett-Packard Co prepare to offerits technology.

(Compiled by Bangalore Newsroom)

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