PRESS DIGEST - Wall Street Journal - June 18

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* Greek voters broke months of political stalemate by narrowly endorsing pro-bailout forces in a momentous election, easing fears of an imminent rupture with the euro zone-for the moment.

* Egypt's military tightened its grip on power, even as the Muslim Brotherhood claimed that its candidate won the country's first democratic presidential election.

* François Hollande secured the parliamentary majority he says he needs to revive France's economy and help repair the euro zone, after voters gave his Socialist Party a lead in legislative elections.

* A government program that helps struggling homeowners take advantage of low interest rates to cut monthly mortgage payments is providing an unexpected revenue boost to large banks such as Wells Fargo and JPMorgan Chase.

* A growing number of tiny community banks are deciding it's time to sell, frustrated by costly, new regulations and limited growth prospects.

* The euro zone debt crisis and looming sanctions against Iran have hindered OPEC's ability to influence the oil market.

* Australia's second-largest newspaper publisher Fairfax Media Ltd plans to cut 1,900 jobs and add a paywall on some of its news Web sites as part of sweeping changes it said would create A$235 million, or $237 million, in annualized savings by June 2015.

* Vincent Bolloré, a French industrialist known for financial flair and tough takeovers, intends to accept a seat on Vivendi SA's board in the fall, according to a person familiar with the matter.

* Hyundai Heavy Industries, the world's largest shipbuilder, said Sunday it has won three orders valued at a combined $600 million to build oil and gas rigs.

Morgan Stanley's Michael Grimes insisted to a senior Facebook Inc executive that he be the "single driver" of the company's initial public offering, adding that if the deal soured, it would be his "throat to choke."

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