PRESS DIGEST-Financial Times, Wall St Journal Asia editions
Source: Reuters
SINGAPORE, Sept 7 (Reuters) - The Financial Times and the Wall Street Journal carried the following stories in their Asia print and/or Web site editions on Friday. Reuters has not verified these stories and does not vouch for their accuracy. FINANCIAL TIMES (www.ft.com) -- An influential shareholder activist will on Friday launch a push to force far-reaching changes to the strategy and management structure of HSBC <HSBA.L> <0005.HK>, the world's fourth-largest bank. -- China's President Hu Jintao stole the limelight at the gathering of Pacific Rim leaders in Sydney, upstaging U.S. President George W. Bush with a flurry of political and trade initiatives. -- Hu and Bush agreed to work together to tackle the product safety crisis that has rattled consumer confidence in Chinese goods. -- The Reserve Bank of Australia was forced to employ new tactics to ease liquidity difficulties in local money markets after short-term rates jumped to an 11-year high. -- The chairman of Hyundai Motor <005380.KS> received a suspended prison sentence for embezzlement and breach of trust, leaving him free to run the world's sixth largest carmaker. WALL STREET JOURNAL (www.wsj.com) -- Chrysler tapped Toyota's <7203.T> top North American executive, Jim Press, as its new vice chairman and president to oversee sales and product strategy. -- U.S. retailers reported surprisingly strong back-to-school results for August, easing some fears that a crunch in the housing and credit markets will cripple holiday spending. -- Pacific Rim countries appear set to approve measures to combat global warming at an economic summit in Australia. An agreement would improve the outlook for talks on climate change that the U.S. plans to host later this month. -- Sony <6758.T> has captured nearly 10 percent of the global market for digital SLR cameras, an early sign of success for the company's push into the high-end camera market -- Private-equity firm TPG is hiring Mary Ma, a former senior executive at Chinese computer maker Lenovo Group Ltd. <0992.HK>, to help it make inroads into the Chinese market, according to people familiar with the matter
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