PRESS DIGEST - Wall Street Journal - Sept 14

Sept 14 (Reuters) - The following were the top stories in the Wall Street Journal on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

* The Federal Reserve, frustrated by persistently high U.S. unemployment and the torpid recovery, launched an aggressive program to spur the economy through open-ended commitments to buy mortgage-backed securities and a promise to keep interest rates low for years.

* The proposed merger of Airbus parent European Aeronautic Defence & Space Co and BAE Systems Plc would create an aerospace giant with roots in Britain, France and Germany, but the deal is being structured in large part to appease possible security concerns of the U.S. Defense Department, according to people familiar with the talks.

* Goldman Sachs Group Inc is doing away with two-year contracts for most analysts hired out of college, according to communications reviewed by The Wall Street Journal and confirmed by a Goldman spokesman.

* Nike Inc new LeBron X basketball shoes won't break the $300 mark after all-but they will still be among the most expensive sneakers ever released.

* Home Depot Inc said it will close seven of its big-box home-improvement stores in China and take a $160 million after-tax charge in the third quarter as a result of the move.