March 8 The following are the top stories in the
Wall Street Journal. Reuters has not verified these stories and
does not vouch for their accuracy.
* Activist investor Carl Icahn said he would push to replace
Dell Inc's board and pursue "years of litigation" if
the computer maker refused to accept his demand for a
refinancing that would pay a hefty dividend to shareholders.
* Google Inc's Motorola Mobility hardware unit has
begun laying off about 1,200 employees, or more than 10 percent
of its headcount, according to a company email reviewed by The
Wall Street Journal, as the smartphone maker continues trying to
return to profitability.
* Upending a closely watched ritual in place since 1996, New
York securities firm Goldman Sachs Group Inc told
employees Thursday it now plans to promote a new crop of
managing directors every two years, instead of each year.
* New York private equity firm KKR & Co LP has
reached a deal to buy industrial-pumps manufacturer Gardner
Denver Inc for $76 a share, valuing the company at
roughly $3.74 billion, said a person familiar with the matter.
* The U.S. Federal Reserve served notice that the financial
industry's health continues to improve, potentially clearing the
way for large U.S. banks to funnel tens of billions of dollars
to investors in increased dividend payments and share buybacks.
* European Central Bank President Mario Draghi played down
fears that Italy's indecisive election could reignite Europe's
debt crisis, saying financial markets have taken the election
results in stride and that Italy's current political mess
doesn't threaten its budget discipline.
* Pandora Media Inc posted a 54 percent jump in
revenue as the internet radio company provided evidence that
cost increases are slowing. It also announced its chief
executive will be stepping down.
* Facebook Inc, hoping to keep users logged on longer
as it faces competition from myriad new social apps, is tweaking
its news feed again.