PRESS DIGEST - Wall Street Journal - June 17

June 17 Tue Jun 17, 2014 12:21am EDT

June 17 (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.

* German engineering giant Siemens AG and Japanese conglomerate Mitsubishi Heavy Industries Ltd launched a bid for Alstom SA's energy business, hoping to thwart General Electric Co's earlier $17 billion offer for the French industrial group with a pitch that is as much about politics as finance. (link.reuters.com/haq22w)

* General Motors on Monday pushed its repair-cost estimate for auto recalls this year to $2 billion as it disclosed plans to replace potentially faulty ignition keys on 3.37 million older model cars in North America. (link.reuters.com/jaq22w)

* An internal report on General Motors Co's blunders handling a deadly safety defect included a mistake of its own: It incorrectly said the service bulletins that auto makers send to dealers, which might have offered a clue to the problem, were readily available on a U.S. website. The service bulletins are issued by car companies to notify dealers of problems that have been reported by drivers, mechanics and others and to outline any necessary fixes. (link.reuters.com/maq22w)

* BP PLC won its first new energy contract from the Pentagon since U.S. government sanctions imposed after the Deepwater Horizon disaster were lifted, regaining a foothold in a market that is set to grow. The $43 million natural-gas deal was the company's first new Defense Department supply contract in almost 18 months. (link.reuters.com/naq22w)

* Allergan Inc, which is fending off a $53 billion takeover bid by Valeant Pharmaceuticals International Inc , released emails sent by senior Morgan Stanley bankers appearing to denigrate Valeant and its business strategy. (link.reuters.com/raq22w)

* Google Inc is facing fresh accusations of anticompetitive behavior in Europe over its Android operating system for mobile phones, even as the Web giant struggles to overcome separate concerns over its dominance of online search. (link.reuters.com/taq22w)

* In a security filing Monday, Alibaba included details investors had complained were missing in its initial documents in May. Chief among them: a sales breakdown for the e-commerce company's two main shopping sites; names of the 27 people who control nominations for a majority of the board and insight into the company's acquisition strategy. Alibaba also released updated financial figures that showed the company's margins were under pressure. (link.reuters.com/vaq22w)

* Royal Dutch Shell PLC is selling most of its shares in Woodside Petroleum Ltd for 6.1 billion Australian dollars ($5.73 billion), as the company continues to unload assets in the face of falling profit. (link.reuters.com/xaq22w) ($1 = 1.06 Australian Dollars) (Compiled by Sampad Patnaik in Bangalore)

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