PRESS DIGEST - Wall Street Journal - Oct 9

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

* The global economy risks skidding toward recession just three years after pulling out of the previous one, the International Monetary Fund warned, adding that fighting a renewed world-wide downturn will be much more complex than it was in 2009.

* Chinese telecommunications giant Huawei Technologies

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

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

* UnitedHealth Group Inc's $4.3 billion deal to take over Brazil's Amil Participações SA represents a major bet on the international future of the health-care business, part of a broader effort by American insurers and hospital 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 new round of "stress tests" even before the annual exams get going later this fall.

The clash centers on the math regulators are using to produce the results. Bankers want more detail on how the calculations are made, and the Fed thus far has resisted disclosing more than it has already.

* American Express Co and Wal-Mart Stores Inc

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

* Coca-Cola Co , PepsiCo Inc and Dr Pepper Snapple Group will start displaying their drinks' calories on vending machines next year and point consumers toward less sugary versions, their latest response to critics who have singled them out for contributing to the nation's obesity epidemic.

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

slowed memory loss by 42 percent in patients with a mild form of the memory-robbing disease in one drug trial and showed positive signs of doing so in another study, according to new data presented on Monday.

* Calxeda Inc, a start-up that provides chips for a new breed of server systems, has raised an additional $55 million as computer makers like Hewlett-Packard Co prepare to offer its technology.

(Compiled by Bangalore Newsroom)

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