PRESS DIGEST - Wall Street Journal - Jan 8

Tue Jan 8, 2013 2:01am EST

Jan 8 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

* U.S. President Barack Obama nominated former Senator Chuck Hagel to be his next defense secretary and White House counterterrorism adviser John Brennan to lead the Central Intelligence Agency. ()

* Bank of America reached an $11.6 billion settlement to end a dispute with Fannie Mae and joined nine other banks in agreeing to pay $8.5 billion to close a regulatory probe over foreclosure abuses, in Wall Street's latest effort to cure its mortgage headaches. ()

* U.S. aviation safety officials are probing an electrical fire that hit a three-week-old Boeing 787 Dreamliner just after passengers and crew had left a Japan Airlines flight at Boston's Logan International Airport. ()

* Chesapeake Energy Corp, a major natural-gas producer, said it would give shareholders the right to nominate some directors - a key governance concession - while slashing charitable and political spending and cutting overhead costs. ()

* In a sign that Netflix Inc's appetite for new content remains as healthy as ever, the video-streaming service struck a licensing deal with Time Warner Inc's Warner Bros, covering a series of fresh TV shows. ()

* U.S. private equity firm Cerberus Capital Management LP plans to sell most of its 58 percent stake in Japanese lender Aozora Bank Ltd, largely exiting from a volatile 10-year investment that highlights how tough it has been for funds to make continuing profits from the distressed banks bought after Japan's 1990s financial crisis. ()