PRESS DIGEST - Wall Street Journal - Feb 15

Fri Feb 15, 2013 2:55am EST

Feb 15 (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.

* H.J. Heinz Co, a brand in virtually every American kitchen, is selling itself for $23 billion to another household name - Warren Buffett - and Brazilian private equity firm 3G Capital.

* After a year of sometimes-acrimonious negotiations, AMR Corp's American Airlines and US Airways Group Inc have agreed to merge. However, the two carriers face months, perhaps years, of work integrating their massive operations into the world's biggest airline.

* Differing approaches by the U.S. Securities and Exchange Commission and the Justice Department in cases against Standard & Poor's could complicate things for federal prosecutors, who say the company disregarded its own standards when rating certain securities.

* The euro zone economy plunged last quarter at its fastest pace in nearly four years, as recessions along the currency zone's southern border gripped powerhouses Germany and France.

* Nasdaq OMX Group Inc said it plans soon to start processing trades at 0400 ET. The earlier start time is a challenge to rival NYSE Euronext, whose electronic Arca exchange began matching bids and offers for shares at that wee hour in 2005.

* Anheuser Busch InBev SA offered to sell an additional $2.9 billion of assets to Constellation Brands Inc in a dramatic bid by the world's largest brewer to rescue its $20 billion takeover of Mexico's Grupo Modelo .

* SAC Capital Advisors agreed to give clients more time to decide whether to keep their money with the hedge fund giant amid an insider-trading investigation, bowing to concerns expressed by one of its biggest investors, according to people familiar with the matter.

* Tiffany & Co sued Costco Wholesale Corp on Thursday, contending that the warehouse chain sold engagement rings it falsely claimed were made by the luxury jewelry company.

* U.S. Senate Republicans blocked, at least temporarily, the nomination of former Senator Chuck Hagel to be secretary of defense, amid intense partisan fighting in Congress.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.