PRESS DIGEST - Wall Street Journal - Feb 9

Feb 9 (Reuters) - The following were the top stories in The Wall Street Journal on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

* General Motors Corp GM.N is in talks to take back large portions of Delphi Corp (DPHIQ.PK), the parts supplier spun off by the auto maker a decade ago. The move is part of a strategy to qualify for additional government loans.

* Sirius XM Radio Inc (SIRI.O) received, and rebuffed, an offer late last year by satellite mogul Charles Ergen to take control of the cash-strapped company. Ergen proposed for one of his satellite companies, EchoStar Corp (SATS.O) or Dish Network Corp (DISK.O), to inject enough capital into Sirius for it to meet its debt obligations and avoid a bankruptcy filing.

* Saks Inc's (SKS.N) decision to cut prices by 70 percent on designer clothes in mid-November has set off a domino effect in the luxury goods business.

* Senate Democrats are confident they can push for a final vote on a revamped $827 billion economic stimulus package early this week.

* U.S. Treasury Secretary Timothy Geithner is considering a plan to help purge banks of their bad bets by partnering with the private sector to buy troubled assets.

* Hoping to jump-start the financial system, the Obama administration is considering turning to a new program run by the Federal Reserve that has been a challenge to launch and depends heavily on hedge funds.

* William Ackman, the hedge-fund manager known for criticizing insurers and other companies over their performance, scrambled over the weekend to ease investor ire stemming from losses of his own.

* Struggling to salvage a soured debt investment, Fillmore Capital Partners LLC, a San Francisco hedge fund, is in talks to take control of two distressed New York office buildings connected to New York City developer Harry Macklowe.

* Former federal prosecutor Robert Khuzami will be named the new head of enforcement at the U.S. Securities and Exchange Commission as soon as this week, in the latest bid by the SEC's new chief to restore its credibility.

* Starbucks Corp (SBUX.O), which built a coffee empire on its premium image, wants to convince customers that its drinks aren't that expensive. The company plans to announce that it is selling discounted pairings of coffee and breakfast food for $3.95, a type of promotion long used at fast-food chains.

* Microsoft Corp (MSFT.O) is planning a series of new programs and services for mobile phones, responding to stiff competition from Apple Inc (AAPL.O) and other rivals. The offerings will include an online bazaar for distributing software to cellular phones that run Microsoft's Windows Mobile operating system

* The boards of Live Nation Inc (LYV.N) and Ticketmaster Entertainment Inc (TKTM.O) were close to approving an all-stock deal to combine the two companies Sunday night in a move that would change the music industry. Negotiations were unfinished late Sunday night, however.

* Walt Disney Co (DIS.N) is expected to announce a movie distribution agreement with Steven Spielberg's DreamWorks SKG, three days after General Electric Co's (GE.N) Universal Pictures pulled out of a similar deal with DreamWorks.

* In Hong Kong, masters of feng shui routinely weigh in on money matters. And after a year of huge financial losses, they're finding an especially receptive audience.