PRESS DIGEST - Wall Street Journal - April 29

April 29 Tue Apr 29, 2014 1:31am EDT

April 29 (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. and Europe imposed sanctions on a slate of new Russian government officials and business entities in an effort to pressure President Vladimir Putin and his Ukrainian allies to cease their military activity in eastern Ukraine. (r.reuters.com/dek88v)

* Nokia on Tuesday named mobile-network veteran Rajeev Suri as its next chief executive and said it would distribute an approximately 1 billion euro ($1.4 billion) special dividend and initiate a share-repurchase program in an effort to return to investment grade. The financial moves come as a result the sale of the company's handset unit to Microsoft Corp. (r.reuters.com/bek88v)

* Pfizer Inc's nearly $100 billion offer to buy British rival AstraZeneca Plc, if accepted, would allow the pharmaceutical giant to move its official headquarters overseas, saving the company that started 165 years ago on a Brooklyn, New York, street corner billions in taxes over the next decade. (r.reuters.com/hek88v)

* An apparent communications blunder inside Bank of America Corp forced the lender to shelve a plan to buy back shares and boost its dividend for the first time since 2008, another setback for Chief Executive Brian Moynihan's efforts to escape the long shadow of the financial crisis. (r.reuters.com/rek88v)

* Energy Future Holdings Corp, the Texas utility at the center of the biggest private-equity buyout ever, was preparing to file for Chapter 11 bankruptcy protection as soon as Tuesday morning, after reaching a restructuring deal with creditors. The utility, formerly TXU Corp, was racing to forge a restructuring deal and file for bankruptcy before a grace period on skipped debt payments expired later this week and put the company in default. (r.reuters.com/tek88v)

* The weather phenomenon known as El Niño is poised to return, a development that threatens to drive up prices for food and other staples. El Niño has a reputation for triggering sharp run-ups for prices in markets as diverse as nickel, coffee and soybeans, and commodities investors, traders and analysts are bracing for impact. (r.reuters.com/zek88v)

* Toyota Motor Corp will receive $40 million from Texas to consolidate several far-flung units in a new headquarters in the state as the company looks to cut costs and combine its North American sales, manufacturing and financial locations. (r.reuters.com/wek88v)

* Lawyers for creditors involved in two proposed class-action lawsuits against Mt. Gox have reached an agreement to support a group of U.S. investors' bid to revive the bankrupt bitcoin exchange, an agreement that would give the creditors a 16.5 percent stake in the prospective future company. (r.reuters.com/duk88v)

* Lawmakers pressing Securities and Exchange Commission Chairman Mary Jo White to address worries about rapid-fire trading aren't likely to hear detailed plans for immediate action when she testifies Tuesday on Capitol Hill. (r.reuters.com/huk88v) (Compiled by Supriya Kurane in Bangalore)

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