January 8, 2014 / 5:48 AM / in 4 years

PRESS DIGEST - Wall Street Journal - Jan 8

Jan 8 (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.

* Federal investigators are probing whether a number of Wall Street banks cheated clients in the years following the financial crisis by deliberately mispricing a type of mortgage bond that was central to the economic turmoil. ()

* Three years after IBM began trying to turn its “Jeopardy”-winning computer into a big business, revenue from Watson is far from the company’s ambitious targets. ()

* JPMorgan will pay roughly $2.6 billion as part of several criminal and civil settlements that resolve allegations the largest U.S. bank failed to provide adequate warnings about Madoff’s decades-long Ponzi scheme. ()

* Investors are bailing out of emerging markets from Turkey and Brazil to Thailand and Indonesia, extending a selloff that began last year, amid concerns about faltering economies and political unrest. ()

* Goldman Sachs names George Lee as the chief information officer for investment banking, as part of an effort to shake up its technology banking team and raise its profile among startups. Viewed as Wall Street’s most tech-savvy firm, Goldman has often preferred to develop its own programs rather than bring in outside vendors. ()

* Citigroup Inc is considering selling its $1 billion stake in a private-equity fund to comply with new federal rules, said a person familiar with the matter. ()

* Amazon doesn’t rush into filling higher-level jobs. Indeed, the e-commerce giant has a gantlet of people, dubbed “bar raisers,” who must sign off on would-be hires. ()

* Ford CEO Alan Mulally said he won’t leave the auto maker to take the top job at Microsoft, ending months of speculation about his future. ()

* As Apple sells more iPhones and iPads, it also sells more apps. The volume of those sales became clear for the first time when Apple said it sold more than $10 billion worth through its App Store last year. ()

* Apple asked a federal judge late Tuesday to remove the lawyer she appointed to monitor the company’s e-book pricing reform, escalating an already contentious feud between the company and the lawyer. ()

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