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PRESS DIGEST - Wall Street Journal - May 28

Source : REUTERS
Last Updated: Tue, May 28, 2013 05:20 hrs

May 28 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

* The American energy boom is deepening splits within OPEC, threatening to drive a wedge between African and Arab members as the cartel grapples with a revolution in the global oil trade.

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* U.S. securities regulators are turning back toward Main Street, renewing their focus on accounting fraud and other financial-disclosure failings. ()

* Amid a European push to reduce fossil-fuel use and carbon-dioxide emissions, some coal-burning power plants are switching to wood and importing the resource from the United States.

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* Lower prices for commodities from cotton to copper are helping U.S. businesses by reducing their raw material costs and buoying consumers by keeping a lid on prices paid.

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* The White House is seeking to lay the groundwork for a U.S. summit next month that has been billed as a chance for presidents Xi Jinping and Barack Obama to get down to business on topics such as cybersecurity and North Korea.

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* UnitedHealth and Humana will begin offering smaller employers the option of self-insurance later this year, as businesses cast about for ways to minimize costs related to the federal health law.

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* As U.S. banks struggle to maintain margins amid growing regulatory demands, some of them have started to outsource part of the onerous work involved in servicing mortgages and processing foreclosures to India's major technology companies.

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* Shell is returning its exploration focus to the West African heartlands after a second attempt to gain a foothold in new gas discoveries off Africa's East Coast failed.




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