April 10, 2014 / 5:40 AM / 3 years ago

PRESS DIGEST - Wall Street Journal - April 10

April 10 (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.

* For 13 years running, Americans have been drinking less Coke. Now Diet Coke sales are falling off a cliff. Globally, sales growth of soda is slowing amid concerns about sugar intake and obesity. The trends are industry wide, but it is especially bad news for Coca-Cola Co, a company that derives almost 75 percent of its global sales volume from carbonated soft drinks. (r.reuters.com/vaj48v)

* AT&T said on Thursday it is in advanced talks to bring speeds of up to one gigabit per second to six North Carolina cities, or about 10 times the current fastest options. (r.reuters.com/mej48v)

* J.P. Morgan Chase & Co Chairman and Chief Executive James Dimon acknowledged that a series of legal headaches in 2013 evolved into "the most painful, difficult and nerve-wracking experience I have ever dealt with professionally." (r.reuters.com/pej48v)

* Auto lender Ally Financial Inc's initial public offering priced at the low end of its expected range, raising some $2.38 billion for the U.S. Treasury Department. The deal marks the largest U.S.-listed IPO of the year and sharply reduces the U.S. government's stake in the former General Motors financing arm. (r.reuters.com/rej48v)

* Hewlett-Packard Co agreed to pay $108 million to resolve bribery investigations spanning three countries, in a case involving bags of cash, jewelry and tours of the Grand Canyon. U.S. authorities on Wednesday gave a detailed view of corruption at HP, which pleaded guilty to violating the Foreign Corrupt Practices Act and agreed to the facts laid out by the government. (r.reuters.com/tej48v)

* Greece plans to sell a new bond, and demand appeared strong among investors ready to look beyond the country's debt crisis. The country's desire to issue the bond, its first longer-term debt sale since its international bailout in 2010, was well known. But details of the planned offering and indications of healthy investor appetite spurred a rally Wednesday in Greece's existing securities. (r.reuters.com/wej48v)

* Bank of America Corp agreed to pay at least $772 million to settle allegations it misled customers when marketing credit-card products promising to protect consumers against identity theft and job loss. The pact announced Wednesday is the fifth, and largest, settlement to date in a probe of banks' sales of credit-card add-on products. (r.reuters.com/xej48v)

* For U.S. energy companies, it has been a simple and profitable strategy: spin off a piece of the business and secure a special tax treatment. Now, the IRS is wondering if some firms are pushing the popular tactic too far. It is conducting an internal review and taking a temporary break from giving guidance to companies looking to form or expand master limited partnerships. (r.reuters.com/duj48v)

* Mars Inc agreed to buy Iams and other pet-food brands from Procter & Gamble Co for $2.9 billion, solidifying its position as the world's biggest pet-food company and effectively ridding P&G of a business that no longer fits with its goals. (r.reuters.com/guj48v)

* Popular websites and millions of Internet users scrambled to update software and change passwords Wednesday, after a security bug in crucial encryption code was disclosed sooner than researchers had planned. Facebook Inc and Yahoo Inc's blogging site Tumblr advised users to change their passwords because of the so-called Heartbleed bug while Canada's tax agency shut its filing website as a precaution, weeks before its April 30 filing deadline. (r.reuters.com/kuj48v) (Compiled by Arnab Sen in Bangalore; Editing by Joyjeet Das)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below