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PRESS DIGEST- Wall Street Journal - Dec 2
December 2, 2016 / 6:20 AM / in a year

PRESS DIGEST- Wall Street Journal - Dec 2

Dec 2 (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.

- President-elect Donald Trump has tapped retired Marine Corps Gen. James Mattis to become secretary of defense-a choice that requires Congress to pass a special law for the recently retired military officer to take up the Pentagon's top post.

- The worst bond rout in three years deepened Thursday, hammering debt issued in emerging markets and many U.S. states and cities, while sparing large companies the brunt of the impact.

- Howard Schultz is stepping down as chief executive of Starbucks Corp to lead an effort at the company to build high-end coffee shops that will charge as much as $12 a cup, his next attempt to revolutionize the way Americans consume coffee.

- Vice President-elect Mike Pence said Thursday that the incoming Trump administration is planning a burst of activity that would take aim at the gridlock in Washington, pressing forward with its goals to overhaul the tax code, health care and immigration laws.

- Chief Executive of United Technologies Corp Greg Hayes' pilgrimage to Trump Tower ended roughly two weeks of intensive talks between representatives of Vice President-elect Pence and United Technologies. Under the deal, the company will get $7 million over 10 years to keep jobs in Indiana.

- Investigators probing the missing billions at Malaysia's 1MDB state development fund believe two former officials of the Abu Dhabi sovereign-wealth fund IPIC played a central role in the alleged global fraud. (Compiled by Aurindom Mukherjee in Bengaluru)

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