PRESS DIGEST - Wall Street Journal - April 8

April 8 Tue Apr 8, 2014 2:37am EDT

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April 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.

* The U.S. Federal Reserve said on Monday that it would give banks two years of extra time to conform certain debt holdings with the Volcker rule, but stopped short of granting an exception the industry had been seeking. The Fed said banks would have two additional years to make sure their collateralized loan obligations do not fall under the rule's ban on speculative investments. (link.reuters.com/tyr38v)

* Citigroup Inc is warning investors it may miss a key profitability target after the U.S. Federal Reserve rejected the bank's capital plan last month, people familiar with the matter say. (link.reuters.com/syr38v)

* If regulators approve, AT&T Inc customers in Carbon Hill, Alabama, would eventually have to switch to wireless or high-speed service. New customers would not be allowed to sign up for traditional, landline-based service at all, ushering in one of the biggest technological changes since Alexander Graham Bell's first telephone. (link.reuters.com/hyr38v)

* A federal judge on Monday gave a boost to the Federal Trade Commission's push to police corporate cybersecurity, allowing the agency to move forward with a lawsuit alleging that Wyndham Worldwide Corp failed to make reasonable efforts to protect consumer information.

* Mallinckrodt Plc agreed to buy Questcor Pharmaceuticals Inc for about $5.6 billion in cash and stock, in the latest sign of consolidation in the specialty pharmaceuticals business. (link.reuters.com/bas38v)

* IMAX Corp plans to sell a 20 percent stake in its Chinese business to two China-focused investor groups in an $80 million deal that the big-movie-screen operator hopes will pave the way for expansion and an eventual public listing. (link.reuters.com/nas38v) (Compiled by Arnab Sen in Bangalore; Editing by Joyjeet Das)

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