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PRESS DIGEST - Wall Street Journal - July 15
July 15, 2014 / 6:30 AM / 3 years ago

PRESS DIGEST - Wall Street Journal - July 15

July 15 (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.

* U.S. drugmaker AbbVie Inc is close to clinching a deal to buy Dublin-based Shire Plc for more than £31 billion ($53 billion), in what would be one of the largest so-called inversion deals through which U.S. companies are seeking a lower corporate tax burden. (

* On Monday, the Citigroup Inc agreed to pay $7 billion, including a $4 billion civil penalty to the Justice Department, $500 million to the Federal Deposit Insurance Corp and several states, and $2.5 billion earmarked for "consumer relief," to settle the U.S. government's allegations it knowingly sold shoddy mortgages ahead of the financial crisis. (

* On Tuesday, Alibaba Group Holding Ltd IPO-BABA.N announced a deal with U.S. production studio Lions Gate Entertainment Corp to make available on Alibaba set-top boxes offerings such as the "Twilight" hit vampire movie series and the TV show "Mad Men." The partnership beefs up Alibaba's entertainment menu as China's Internet-savvy consumers are increasingly going online to watch TV shows, videos and movies. (

* Pilot Flying J, the nation's largest truck-stop chain, accepted responsibility for the criminal conduct of its employees and agreed to pay $92 million in penalties in a settlement with the federal government. (

* The National Basketball Association is seeking to double the TV-rights fees it receives from ESPN majority owner Walt Disney Co and Time Warner Inc's Turner Broadcasting, as the league looks to lock up deals for nationally televised games in the coming months, according to people familiar with the matter. (

* Lou Eccleston, who led the fast-growing S&P Capital IQ division at McGraw Hill Financial Inc departed Monday to pursue other opportunities, according to an internal company memo. (

* The Justice Department is investigating possible pricing coordination among music publishing companies as it reviews the decades-old rules that govern the cost of licensing songs, according to people familiar with the matter. (

$1 = 0.5956 British Pounds Compiled by Arnab Sen in Bangalore

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