This is what’s in the news for Thursday, July 7th. The Wall Street Journal reports that Christine Varney, the assistant attorney general who led the Obama administration's drive to reinvigorate antitrust enforcement, plans to step down next month to join law firm Cravath, Swaine & Moore. Her departure comes as the Justice Department is conducting several high-profile merger reviews, including AT&T's (NYSE:T) $39B purchase of Deutsche Telekom's (PINK:DTEGY) T-Mobile USA. Bloomberg reports that Bank of America (NYSE:BAC), JP Morgan Chase (NYSE:JPM) and three other U.S. mortgage servicers are in advanced talks to resolve state and federal claims over faulty foreclosures. Reuters reports that Live Nation Entertainment's (NYSE:LYV) largest shareholder says the company would benefit from being taken private, adding that the company, which is struggling with a weak U.S. economy, could turn around its business more effectively in private hands. Finally, The Wall Street Journal reports that Citigroup (NYSE:C) plans to increase the number of its China outlets by 50% this year, and will explore more inland cities and populous rural areas.