PRESS DIGEST - Wall Street Journal - May 6

Tue May 6, 2014 1:19am EDT

May 6 (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.

* U.S. prosecutors are close to securing a guilty plea and a settlement of more than $1 billion from Credit Suisse Group over allegations the bank helped wealthy Americans evade taxes. A deal isn't guaranteed and federal prosecutors still have to agree on precisely what a guilty plea would mean for the bank's ability to operate. (r.reuters.com/saw98v)

* The Christmas-season cyber attack on Target Corp did more than expose customer credit-card data to potential fraud. It also turned up the heat on troubles that simmered under the six-year tenure of CEO Gregg Steinhafel, who stepped down on Monday. (r.reuters.com/duw98v)

* In the hard-fought world of online retail, Wal-Mart Stores Inc has finally notched a win against rival Amazon . For the first time in a decade Wal-Mart's web sales grew faster than the online retailing giant's. Wal-Mart is intent on catching up with Amazon. On Tuesday it is expected to announce the purchase of Adchemy, a search-engine marketing company that helps retailers optimize their use of search terms. (r.reuters.com/rew98v)

* Several big telecom deals under consideration could usher in an era of consumers getting new, flexible options to be entertained and communicate wherever and however they choose. But the path is perilous, requiring that regulators approve mergers that would create still-bigger companies in industries where Americans already have few choices. (r.reuters.com/paw98v)

* Florida insurance regulators are taking a hard look at a proposal to thousands of Florida teachers for free life insurance, paid for by a group of investors. (r.reuters.com/waw98v)

* The French government urged General Electric Co to alter the terms of its proposed $17 billion takeover of Alstom SA's energy assets, saying it would reject a deal that allowed GE to completely absorb the businesses. (r.reuters.com/fuw98v)

* Activist investor Daniel Loeb and auction house Sotheby's reached a settlement on Monday that concluded his seven-month campaign to shake up the company a day before shareholders were to vote on his board candidates. The pact gives Loeb three board seats and also caps his stock ownership at 15 percent. (r.reuters.com/vaw98v)

* Speaking at the Sohn Investment Conference, David Einhorn, founder of Greenlight Capital, sent shares of electronic health-care-records provider athenahealth Inc down 10 percent after hours after saying the stock may fall 80 percent. (r.reuters.com/taw98v)

* Even as it faces increased regulatory scrutiny at home, America's dirty and unwanted coal is being embraced in one of the world's cleanest energy markets: the European Union. (r.reuters.com/zaw98v)

* Eagle Ottawa LLC, the world's largest supplier of premium automotive leather, is on the auction block. The company, whose products are used in BMW, Chrysler and Mercedes-Benz vehicles, among others, is expected to fetch more than $650 million. (r.reuters.com/naw98v) (Compiled by Supriya Kurane in Bangalore)