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PRESS DIGEST - Wall Street Journal - Jan 30
January 30, 2014 / 5:45 AM / 4 years ago

PRESS DIGEST - Wall Street Journal - Jan 30

Jan 30 (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.

* Just one month into 2014, investors from Illinois to Istanbul are finding the tide going out fast for stocks and other riskier investments. ()

* U.S. stocks have started the year with a thud. What’s interesting, though, isn’t that stocks are down but that the declines are coming so grudgingly. ()

* Google’s experiment making Motorola phones has ended after just 22 months, with the company unloading the handset business to China’s Lenovo Group for $2.91 billion but keeping a valuable trove of patents. ()

* The hackers who stole 40 million credit and debit card numbers from Target Corp appear to have breached the discounter’s systems by using electronic credentials stolen from a vendor. ()

* Amazon.com plans to offer brick-and-mortar retailers a checkout system that uses Kindle tablets as soon as this summer. ()

* Blackstone Group’s chairman has made clear to senior executives that 43-year-old real-estate specialist Jonathan Gray is the front-runner should the current president depart within the next few years. ()

* How do the details of a family tragedy land on a piece of junk mail? Most likely from a customer service representative who feeds data to information brokers electronically compiling and selling information. ()

* Federal regulators are set to take a step Thursday toward retiring the existing landline telephone system in favor of a new, digital-based network. ()

* Bill Gross, the biggest and one of the most influential fixed-income managers in the world, is ceding some of his power to six new deputies at Pacific Investment Management Co (Pimco) as part of the biggest change in its leadership in more than five years. The move follows last week’s announcement that Pimco’s high-profile chief executive and co-chief investment officer, Mohamed El-Erian, would leave in mid-March. ()

* Starbucks Corp said Chief Executive Howard Schultz will expand his role in product innovation and digital retailing as part of a shuffling of senior executives aimed largely at adjusting to technology-driven shifts in its industry. ()

* Outgoing Federal Reserve Chairman Ben Bernanke will provide testimony after he leaves office in a lawsuit filed against the federal government over the 2008 bailout of American International Group Inc, according to a person involved in the case. ()

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