September 2, 2014 / 4:33 AM / 3 years ago

PRESS DIGEST - Wall Street Journal - Sept 2

3 Min Read

Sept 2 (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.

* Ukraine is shifting the focus of its military operation from rooting out pro-Russia rebels in the east to warding off a broader incursion by Russia, following major setbacks for Kiev's forces in fighting in recent days. (on.wsj.com/1uciNGM)

* Accounting firm Arthur Andersen collapsed more than a decade ago in the wake of the Enron Corp scandal, but a group of former Andersen partners are convinced there's still gold in the Andersen name. A San Francisco-based tax-consulting firm run by former Andersen partners is buying the rights to the Andersen name and plans to rename the firm Andersen Tax. The move is expected to be announced Tuesday. (on.wsj.com/1Cl3tfP)

* As Portuguese lender Banco Espirito Santo SA neared collapse this summer, it found a Wall Street ally to help it raise funds: Goldman Sachs Group Inc. Through a Luxembourg financing vehicle created by Goldman, Banco Espirito Santo received $835 million in July, according to a prospectus reviewed by The Wall Street Journal, a time when it was nearly impossible for the troubled lender to borrow directly in the capital markets. (on.wsj.com/1x1BQIu)

* French telecommunications company Iliad SA said it isn't giving up its pursuit of T-Mobile US Inc and is considering teaming up with partners possibly to make a better offer for the U.S.'s fourth-largest mobile operator by subscribers. (on.wsj.com/Z5fGpz)

* Apple Inc said it is investigating reports that vulnerabilities in its iCloud service were exploited to hack the accounts of celebrities, leading to the publication of nude photos and videos. Initial media reports suggested that the hacks stemmed from individual accounts on iCloud, an online service to store photos, music and other data from Apple devices. (on.wsj.com/1pkmBQL)

* European Union antitrust officials have sent a second wave of extremely detailed questions to the competitors and customers of Facebook Inc and messaging service WhatsApp Inc, an unusual move that might call into question the proposed $19 billion acquisition of the latter by the California-based social network. (on.wsj.com/Y7lQ8q)

* Eric Cantor plans to join boutique investment bank Moelis & Co, as the recently defeated House majority leader embarks on a new career on Wall Street. Cantor, 51 years old, will be a vice chairman and board member at the firm, effective this week, he and Moelis founder Ken Moelis said in a joint interview on Monday. (on.wsj.com/1A14khC)

Compiled by Arnab Sen in Bangalore

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