Tuesday, July 19, 2011

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PRESS DIGEST - Wall Street Journal - July 19

July 19 | Tue Jul 19, 2011 3:13am EDT
(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.
* Top White House officials and congressional leaders are racing against the clock to devise a scaled-down deficit-reduction proposal that would get both President Barack Obama's signature and enough Republican votes to pass the House in time to avert a government default.
* Worries about government debt rocked capital markets on both sides of the Atlantic, as fears that the Greek crisis will spread combined with concerns at the standoff over the U.S. debt ceiling.
* When an earthquake launched a tsunami that devastated a Japanese nuclear complex in March, U.S. regulators quickly reassured the public that American reactors were built to withstand the expected severity of earthquakes in their areas.
Privately, though, internal emails from March show staffers at the federal Nuclear Regulatory Commission fretted about the public attention on the potential earthquake vulnerability of some U.S. plants.
* Borders Group Inc said it would liquidate after the bookstore chain failed to receive any offers to save it.
* The Obama administration and auto industry are deeply divided over whether future advancements in battery technology can support a proposal to roughly double fuel economy to 56 miles on a gallon of gasoline by 2025.
(Compiled by Fareha Khan; Bangalore Equities Newsdesk +91 80 4135 5800 within U.S. +1 646 223 8780)

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