PRESS DIGEST - Wall Street Journal - March 25

March 25 Tue Mar 25, 2014 12:25am EDT

March 25 (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.

* The heads of state of the world's largest advanced economies moved Monday to isolate Russia, severing a key link between Moscow and the Western world after nearly two decades. The leaders of the Group of Seven, or G-7, nations effectively disbanded the larger G-8 by excluding Russia until it changes course in Ukraine. (link.reuters.com/rak87v)

* Seventeen days after a Malaysian jetliner disappeared, authorities for the first time said they believed they knew what happened to the plane and the 239 people aboard: It crashed in the southern Indian Ocean, one of the world's most remote and turbulent seas. (link.reuters.com/tak87v)

* The Securities and Exchange Commission is investigating whether a Wall Street boom in complicated bond deals is creating new avenues for fraud, according to people close to the probes. (link.reuters.com/cek87v)

* Bernard L. Madoff has maintained for years that his decades long Ponzi scheme was a one-man show. On Monday, a jury concluded instead that it was a team effort. Jurors found five former employees of Madoff guilty of aiding and hiding the fraud in a trial that painted the money manager's Manhattan offices as a hive of illegal activity, where employees cooked up lies and manufactured fake documents to keep afloat a scam that ultimately cost investors $17 billion. (link.reuters.com/xak87v)

* Box Inc on Monday revealed plans to raise up to $250 million in an initial public offering as the unprofitable startup tries to ward off intensifying competition in the online storage market. (link.reuters.com/zak87v)

* Walt Disney Co on Monday named ABC News President Ben Sherwood as the next head of its television-entertainment networks, marking a rapid climb for a news producer who just four years ago was out of the media business entirely. (link.reuters.com/bek87v)

* General Motors Co engineering managers knew about ignition-switch problems on the 2005 Cobalt that could disable power steering, power brakes and air bags, but launched the car because they believed the vehicles could be safely coasted off the road after a stall, according to court documents. (link.reuters.com/dek87v) (Compiled by Arnab Sen in Bangalore)