PRESS DIGEST - Wall Street Journal - Feb 14

Thu Feb 14, 2013 1:53am EST

Feb 14 (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.

* A former analyst at hedge fund SAC Capital Advisors told federal criminal investigators that he was pressured by his manager to gather inside information on technology stocks, according to people familiar with the briefing.

* The boards of American Airlines' parent AMR Corp and US Airways Group Inc late Wednesday separately voted to approve a merger that would create the world's largest airline, said people familiar with the matter.

* Several banks planned to withdraw from the panel that sets a key benchmark interest rate but scrapped the idea after the UK's financial regulator strongly warned them against doing so, according to people familiar with the matter.

* Time Warner Inc is in talks to divest most of its Time Inc magazine group in a deal with Meredith Corp, said people familiar with the situation, potentially ending its long reign as the biggest U.S. magazine publisher.

* The U.S. Treasury said it opposes plans by 11 European Union countries to impose a small tax on trades in shares, bonds and derivatives.

* Best Buy Co founder Richard Schulze is weighing whether to scrap a plan to take over the struggling electronics chain and instead line up investors to take a minority stake in the company, people familiar with the matter said.

* Two test flights of the Boeing Co 787 Dreamliner have so far failed to replicate or identify the cause of the battery malfunctions that grounded the jet, leaving the company increasingly focused on some low-tech interim fixes, according to government and industry officials.

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