PRESS DIGEST - Wall Street Journal - Dec 6
Dec 6 (Reuters) - The following are the top stories in the Wall Street Journal on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.
* Underlining his determination to crack down on costs, Citigroup Inc Chief Executive Michael Corbat set out plans on Wednesday to cut 11,000 jobs, close 84 branches and retreat from consumer banking in a handful of countries. ()
* A consortium of bidders has offered Eastman Kodak Co more than $500 million for a trove of digital patents, people familiar with the matter said. ()
* Apple Inc and Samsung Electronics Co return to a Silicon Valley courtroom on Thursday, as Samsung fights to get a federal judge to throw out or soften a $1.05 billion patent judgment against the Korean company. ()
* Zynga Inc has taken its first official step toward offering real-money gambling games in the U.S. by filing preparatory paperwork in Nevada, as the embattled firm manoeuvres to take advantage of a shifting legal landscape. ()
* The Nasdaq stock exchange said it erroneously postponed an initial public offering set for Wednesday morning, marking another bungled IPO launch this year by an exchange. ()
* Tesco Plc is poised to leave the U.S. after spending five unprofitable years and 1 billion pounds ($1.61 billion) on an ill-timed American gambit that now ranks among the British retailer's biggest-ever failures. ()
* The White House hardened its position that Congress should raise the U.S.'s borrowing limit without preconditions, adding an unpredictable new element into the high-stakes budget talks. In a Wednesday speech to top corporate chiefs, President Barack Obama said he wouldn't negotiate with Republicans on this issue as he did in 2011. ()
* The SEC is scrutinizing "gatekeepers" - the consultants, financiers, auditors and others who helped give Chinese companies access to U.S. capital markets - as part of its continuing probe of accounting questions at Chinese companies.
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.