PRESS DIGEST - Wall Street Journal - Oct 11


Oct 11 (Reuters) - The following are the top stories in theWall Street Journal on Thursday. Reuters has not verified thesestories and does not vouch for their accuracy.

* BAE Systems Plc and EADS called offtheir merger after the UK, France and Germany failed to agree onhow much influence they should have over the combined entity.

* JPMorgan Chase and Co's chief financial officer isexpected to step down over the next two quarters and is likelyto move into a different job at the bank, people close to thecompany say.

* Mitt Romney is deadlocked with President Barack Obama intwo key battlegrounds - Florida and Virginia - while stillbehind in Ohio, according to new polls taken after theRepublican's strong performance in the first presidentialdebate.

* Standard & Poor's Ratings Services cut its rating on Spainand maintained a negative outlook, citing the mounting pressuresfrom the country's economic recession.

* Eastman Kodak Co said it would terminate itshealth-care and survivor-benefits program, resolving a $1.2billion retiree-benefits liability.

* A top Federal Reserve official Wednesday called onCongress to consider capping the size of the nation's financialfirms, marking one of the most high-profile challenges to theway Wall Street does business.

* H&R Block Inc is exploring how to escape theburden of being regulated by the Federal Reserve without givingup on financial services.

* Regulators are closely watching how much of a boost U.S.banks give their third-quarter profits by trimming theircushions against bad loans, highlighting an issue that will bein the forefront in coming days as banks report earnings.

* European Union Transport Commissioner Siim Kallas ispreparing legal action against EU member countries to forcefaster action on a delayed program to unify the bloc's airspace,according to a speech he will deliver Thursday.

(Compiled by Bangalore Newsroom)

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