March 1, 2013 / 6:25 AM / 4 years ago

PRESS DIGEST - Wall Street Journal - March 1

2 Min Read

March 1 (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.

* The $85 billion in so-called sequester cuts take effect Friday if, as expected, U.S. President Obama and congressional leaders find no way to avoid them.

* Libya's sovereign-wealth fund said it is cooperating with the U.S. Securities and Exchange Commission in the ongoing investigation into Goldman Sachs Group Inc over the securities firm's dealings with the fund when Col. Muammar Gaddafi was in power.

* Some of the biggest U.S. banks were on pace to find a higher rate of past foreclosure mistakes than regulators disclosed in January when they halted a review in favor of a $9.3 billion settlement for homeowners.

* Groupon Inc ousted Chief Executive Andrew Mason a day after reporting a quarterly loss that heightened scrutiny of the company's business model.

* Best Buy Co ended talks with founder Richard Schulze over a deal in which he and a group of buyout firms were proposing to take a minority stake in the firm in exchange for three seats on the board, according to people familiar with the matter.

* Apple Inc earlier this month reversed its stance on a corporate-governance measure related to executive compensation, implementing a new rule that executives must hold triple their base salary in company stock.

* Mexico's political parties are coming together to take on the country's three most powerful businessmen, including the world's richest man Carlos Slim, by negotiating a broad set of constitutional overhauls to boost competition in the country's telephone and television markets.

* A federal jury in Manhattan ordered ESPN Inc to pay Dish Network Corp $4.86 million in damages in a dispute over licensing rates for sports broadcasts.

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