Financial News Digest: Reuters, WSJ, NYT, FT, Bloomberg

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By Douglas A. McIntyre Updated Published
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Defense Secretary Chuck Hagel says he has deep concerns about cyberattacks on U.S. interests. (Reuters)

Intel Corp. (NASDAQ: INTC) beats out tough competition to get a chip in the new Samsung Galaxy tablet. (Reuters)

The past approval by the federal government of Chinese acquisitions of U.S. companies should help the Shuanghui International Holdings $4.7 billion buyout of Smithfield Foods Inc. (NYSE: SFD). (WSJ)

Procter & Gamble Co. (NYSE: PG) will put four people in senior positions to compete for the CEO job held by A.G. Lafley. (WSJ)

Sony Corp.’s (NYSE: SNE) CEO says he is against a breakup and tells why he supports current plans. (WSJ)

A new version of Microsoft Corp.’s (NASDAQ: MSFT) Windows 8 will not have the current start menu. (WSJ)

Portugal will cut government spending to reach a budget deficit goal of 5.5% of gross domestic product. (WSJ)

American demand for Subaru could cut supplies to levels at which some cars will not be available. (WSJ)

Neiman Marcus rejects a plan by Kohlberg Kravis Roberts & Co. (NYSE: KKR) to combine it with Saks Inc. (NYSE: SKS). (WSJ)

Bitcoin hopes to improve its method for confirming the value of shares that are taken in or out of its inventory. (WSJ)

Japan kills imports of some U.S. genetically altered wheat. (NYT)

OPEC likely will keep its output target for 2013 steady. (NYT)

The International Monetary Fund expresses concern about the weak value of the yen. (FT)

Goldman Sachs Group Inc. (NYSE: GS) receives 17,000 applications for 350 intern jobs. (FT)

Sony hires Citigroup Inc. (NYSE: C) and Morgan Stanley (NYSE: MS) to advise it on a shareholder break up proposal. (Bloomberg)

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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