April 14, 2014 / 5:50 AM / in 4 years

PRESS DIGEST - Wall Street Journal - April 14

April 14 (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.

* Fined by China for misleading pricing and selling poor-quality products, Wal-Mart Stores Inc paid fines and ratcheted up its testing and inspections, but it is also doing something rare for a Western company: Telling Chinese authorities they need to clean up their own act. (r.reuters.com/tyb58v)

* General Motors Co's European unit, Adam Opel AG, appears to be on the cusp of breaking even before its 2016 target date - welcome news for GM Chief Executive Mary Barra amid the fallout from a massive recall that is expected to take a $1.3 billion bite out of GM's first-quarter profit. (r.reuters.com/syb58v)

* Citigroup Inc declined to work on an Italian government-backed bid for Spain's Deoleo SA the world's biggest olive-oil bottler, because of concern that the deal would infuriate the Spanish government, according to two people with knowledge of the discussions. (r.reuters.com/sac58v)

* Yahoo Inc will release revenue and profit numbers from Alibaba Group Holding Ltd on Tuesday. Those figures are expected to show a big fourth quarter for Alibaba. The report will help set the stage for Alibaba's expected filing for a U.S. initial public offering, which may value the company at more than $100 billion, say analysts. (link.reuters.com/wyb58v)

* Google Inc wants to expand further in the New York city and is launching a search for enough space to hold more than 3,000 employees, according to several real-estate executives familiar with the hunt. The Internet firm has been in discussions with several landlords about leasing at much as 600,000 square feet in Manhattan-about half the size of the Chrysler Building. (r.reuters.com/qac58v)

* The turmoil caused by the "Heartbleed" encryption bug is shedding light on a little-known element of the White House's surveillance overhaul package: how the government handles software holes and vulnerabilities. The National Security Agency has compiled a list of software bugs and holes known as "zero days," which the agency has exploited to gain access to secure networks before they can be fixed. (r.reuters.com/xyb58v)

* The world's top finance officials stepped up warnings about low inflation during weekend meetings of the International Monetary Fund, calling for action to combat downward price pressures that threaten consumption and stymie debt reduction. The IMF's policy committee highlighted stubbornly weak price increases as a key drag on the global recovery, which is approaching the end of its fifth year. (r.reuters.com/tac58v)

* The IMF again sounded the alarm bell at the weekend over low global inflation. But has the worst of anemic price rises already passed the world economy? That, at least, is the view of JP Morgan & Chase economists. In its weekly roundup of global economies, JP Morgan said it believed inflation has reached a low point after two-and-a-half years of falling price growth. (r.reuters.com/gac58v)

* Glencore Xstrata said it agreed to sell the mining company's Las Bambas Peruvian copper project to a Chinese consortium in an all-cash deal worth at least $5.8 billion. Glencore said it had agreed to sell its entire interest in Las Bambas to a consortium led by MMG Ltd, a unit of state-controlled China Minmetals Corp. (r.reuters.com/fac58v)

* Citigroup Inc has cut 200 to 300 jobs, or about 2 percent of its global markets workforce. The bank is tightly managing expenses and "making targeted head count reductions in light of current market conditions," a company spokeswoman said. (r.reuters.com/vyb58v)

* China's largest brokerage, Citic Securities Co has bought a stake in U.S. brokerage firm BTIG LLC, the company's latest move to grow outside of China through buying a holding in a Western investment firm. (r.reuters.com/nac58v) (Compiled by Supriya Kurane in Bangalore)

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