Sept 19 | Mon Sep 19, 2011 2:08am EDT
Sept 19 (Reuters) - The following were the top stories in The Wall Street Journal on Monday. Reuters has not verified these stories and does not vouch for their accuracy.
* Obama will offer a new plan to reduce the federal deficit by about $3.6 trillion over a decade, almost half of which would come from tax increases, people familiar with the proposal said.
* President Barack Obama's proposal to raise taxes on some millionaires will likely please members of his party, but it is unlikely to have much practical impact on federal deficits anytime soon.
* The online daily-deals space has attracted millions of dollars in venture capital and spurred dozens of clones of market leaders Groupon and LivingSocial. Now the industry is starting to shake out.
* After a summer of denial, reality has caught up with Wall Street strategists. Having spent much of the year making ever-higher predictions for the Standard & Poor's 500-stock index, and sticking to them through August's turmoil, many strategists are now cutting their forecasts.
* Fed officials, worried that a wobbly economy and their fractious debates are confusing the public, are examining whether to adopt more explicit economic targets to clarify their strategy for lowering unemployment without fueling inflation.
* Greece's government held an emergency cabinet meeting to plan new measures to bring its budget deficit into line, after warnings from the other euro-zone nations.
* UBS boosted the tally of the loss it suffered this summer to $2.3 billion, as details began to emerge as to how a relatively junior trader allegedly perpetrated one of the largest trading frauds ever.
* In the aftermath of the world's biggest-ever rogue trading loss, French bank Société Générale SA implemented a series of tough measures to shore up internal controls. But three years later the bank and some of its former executives still live in the shadow of their former junior trader-Jerome Kerviel.
* Google has hired at least 13 lobbying and communications firms since May, when the FTC ramped up its antitrust probe of the company, and ahead of a Senate hearing Wednesday on whether it is abusing its dominance of Internet search.
* A year after U.S. banks slowed down the foreclosure machine as a result of pressure from judges and regulators, the foreclosure process remains snarled.
* The United Auto Workers' tentative labor pact with General Motors Co. is likely to raise pressure on Chrysler LLC and Ford Motor Co. to increase worker pay and add factory jobs.
* Asian stock markets fell on Monday and the euro lost ground as investors fretted about the lack of progress in resolving Europe's debt problems.
* Ranchers in the U.S. are shrinking their herds, a move that will curtail beef supplies in coming months and exert upward pressure on prices at the meat counter.
* United Technologies Corp. is in talks to acquire aircraft-systems maker Goodrich Corp. , people familiar with the matter said, a deal that would expand the conglomerate's aerospace business amid a boom in production of passenger planes.
* Profit at the China operations of foreign banks improved last year but continued to significantly lag earnings growth for Chinese rivals, as a hiring war drove up costs for the foreign lenders, according to a new report.
* Samsung Electronics Co. widened a sprawling global patent dispute with Apple Inc. by filing a countersuit in Australia, while also appealing a key ruling in Germany.
* NBC is in talks to bring veteran news anchor Ted Koppel to a news-magazine program slated to make its premiere in the fall, according to people familiar with the matter, the network's latest attempt to add star power to the prime-time program. (Compiled by Anirban Sen; Bangalore Equities Newsdesk +91 80 4135 5800; within U.S. +1 646 223 8780)
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