Oil and Gas

PRESS DIGEST- Wall Street Journal - Oct. 11

Oct 11 (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.

- Walmart Inc said the executive in charge of its U.S. stores, Greg Foran, is leaving the company and will be replaced by the head of its Sam's Club warehouse chain.

- Delta Air Lines Inc will accelerate hiring to avoid a repeat of the squeeze that affected its operations during the summer, stoking investor concerns about rising carrier costs.

- German business-software giant SAP SE on Thursday said Chief Executive Bill McDermott is being replaced in the role with immediate effect and named two executives, Jennifer Morgan and Christian Klein, to serve as co-CEOs.

- Minneapolis Fed president Neel Kashkari said Thursday that the time has probably passed for the central bank to use a supersize rate cut to boost the economy, but he remains on board with the idea that cheaper borrowing costs are still warranted.

- The Nike Oregon Project is being shut down, according to a memo from Nike Inc Chief Executive Mark Parker to company employees.

- Saudi Arabian Oil Co's IPO-ARMO.SE investment bankers could deliver, as soon as Friday, their final recommendations on the valuation of the state-owned energy giant in an initial public offering, with the headline number expected to fall well short of the $2 trillion targeted by Saudi Arabia's Crown Prince Mohammed bin Salman.

- General Motors Co is pressing the United Auto Workers to pick up the pace of negotiating a new four-year contract, which would end a 25-day strike at the company's U.S. factories, according to a letter obtained by The Wall Street Journal.

- President Trump has created a channel on Inc's Twitch, a sign he plans to use the live-streaming platform to promote his 2020 re-election campaign.

- Two donors to a pro-Trump fundraising committee who helped Rudy Giuliani's efforts to investigate Democrat Joe Biden were arrested late Wednesday on criminal charges stemming from their alleged efforts to funnel foreign money into U.S. elections. (Compiled by Bengaluru newsroom)