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PRESS DIGEST - Wall Street Journal - Dec 13
December 13, 2013 / 5:35 AM / 4 years ago

PRESS DIGEST - Wall Street Journal - Dec 13

Dec 13 (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.

* A presidential task force has drafted recommendations that constitute a sweeping overhaul of the National Security Agency, according to people familiar with the recommendations. The panel’s draft proposals would change the spy agency’s leadership from military to civilian and limit how it gathers and holds the electronic information of Americans. ()

* Airplanes are unlikely to be filled with passengers talking on cellphones anytime soon, after the Obama administration signaled it would keep a ban on calls in place.

* Major wireless carriers committed on Thursday to allowing consumers to keep their cellphones when they switch providers, in a voluntary move backed by federal regulators. AT&T Inc , Sprint Corp, T-Mobile USA Inc, U.S. Cellular Corp and Verizon Wireless signed on to the agreement, which requires carriers to “unlock” devices or ask manufacturers to do so within two days of receiving a consumer’s request. ()

* Facebook Inc’s Instagram app is launching a photo- and video-messaging service, soon after popular mobile app Snapchat spurned a $3 billion offer from the social network. ()

* Apple Inc’s major supplier Foxconn hasn’t reduced overtime hours at some of its factories to meet the legal requirement in China, the Fair Labor Association said in a report. ()

* Google Inc’s hopes of settling its high-profile antitrust case in the European Union suffered a setback as rivals and consumer groups blasted its latest proposal for resolving the EU’s competition concerns. ()

* Coca-Cola Co is shaking up its senior management, announcing late Thursday that its Americas chief is leaving. The sudden departure of Steve Cahillane, once viewed as a potential successor to Chief Executive Muhtar Kent, comes as the maker of Minute Maid orange juice, Powerade sports drinks and its namesake cola struggles to grow in its key U.S. market and faces slowing sales in Brazil and Mexico. ()

* A U.S. bankruptcy judge ruled Anadarko Petroleum Corp could be liable for at least $5 billion in a lawsuit over environmental and legal liabilities related to its 2006 acquisition of Kerr-McGee Corp. ()

* Jones Group Inc is nearing a deal to sell itself to private-equity firm Sycamore Partners, according to a person familiar with the matter, in a takeover that would value the footwear and apparel maker at roughly $1.2 billion. ()

* Americans spent more freely as the holiday shopping season opened, reflecting renewed consumer strength that could boost economic growth next year. Retail sales rose a seasonally adjusted 0.7 percent in November from October, marking the biggest gain since June, the Commerce Department said Thursday. The prior month’s gain was revised up to 0.6 percent from 0.4 percent. ()

* Netflix is trying to better understand your binge-viewing habits. The company on Friday will reveal a snapshot of a phenomenon that is reshaping TV culture-viewers devouring shows in long jags, episode after episode. ()

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