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(AFX UK Focus) 2009-11-20 06:45
PRESS DIGEST - Wall Street Journal - Nov 20
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Nov 20 (Reuters) - The following were the top stories in The Wall Street Journal on Friday. Reuters has not verified these stories and does not vouch for their accuracy.
* Some of Goldman Sachs Group Inc's largest shareholders have urged the firm to reduce its bonus pool, arguing the company should pass along more of its blockbuster earnings to investors.

* Political frustration over Wall Street's rescue and high unemployment erupted in Congress, with one panel threatening tighter scrutiny on the U.S. Federal Reserve and another excoriating Treasury Secretary Timothy Geithner.
* Oprah Winfrey plans to end her syndicated TV show in September 2011, as she turns her efforts toward a new cable-TV channel she plans to launch with Discovery Communications Inc .
* Dell Inc's quarterly profit dropped 54 percent despite recent signs of recovery in the technology sector, raising questions about the personal-computer maker's strategy of focusing on profitability at the expense of market share.
* Ronald Burkle has become a significant investor in Barneys New York in recent months, with his Yucaipa Cos buying a chunk of the struggling luxury retailer's debt. The billionaire investor has bought a large part of the company's secured term loan from Citigroup Inc at about 60 cents on the dollar.
* AOL Inc is planning to cut about a third of its staff as the struggling Internet company attempts to rein in costs and resurrect its business in preparation for its spinoff from Time Warner Inc next month.
* Retailers' yearlong efforts to cut costs and reduce inventory, as well as avoid deep markdowns, have paid off in recent months. On Thursday, Gap Inc, along with Buckle Inc and Williams-Sonoma Inc, reported increased profits, or profit after a year-earlier loss, on stronger gross margins for their fiscal third quarters.
* General Motors Co Chairman Edward Whitacre, becoming increasingly visible in GM's turnaround campaign, is pressing the auto maker's management team to sharpen its focus on boosting quality and customer satisfaction.

* The International Swaps and Derivatives Association Inc, the trade group representing the global derivatives markets, appointed Conrad Voldstad as chief executive officer. Voldstad will replace Robert Pickel effective Nov. 30. Pickel, who held the position for the past nine years, will take on the new role of Executive Vice-Chairman.
* Microsoft Corp has sold twice as many copies of Windows 7 in its first few weeks than any previous version of the operating system, Chief Executive Officer Steve Ballmer said.
* Google Inc said the first devices running its new Chrome operating system will be available by the end of 2010, as the company gave the first public peek of software that Google hopes will drive usage of Internet applications that include its own services. Keywords: PRESS DIGEST/WSJ

(Compiled by Tenzin Pema; Bangalore Equities Newsdesk +91 80 4135 5800; within U.S. +1 646 223 8780)

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