January 29, 2015 / 5:38 AM / 3 years ago

PRESS DIGEST - Wall Street Journal - Jan 29

Jan 29 (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.

* McDonald's Corp said Chief Executive Don Thompson was leaving, less than three years into his tenure, and promoted a company veteran to try to revive the fast-food giant from its worst slump in more than a decade. (on.wsj.com/1tuLRwF)

* The population of graying U.S. prisoners has exploded in recent years largely because more offenders are entering or re-entering prison in middle age, new research shows. (on.wsj.com/1HgBsuF)

* The advance of wealthy households, while middle- and lower-income Americans struggle, is reshaping markets for everything from housing to clothing to beer. (on.wsj.com/1LjpbVO)

* The Federal Reserve signaled it would keep short-term interest rates near zero at least until midyear, while also setting the stage for tough decisions in the coming weeks about whether it should wait even longer. (on.wsj.com/15SUq9n)

* Sony Corp said it is shutting down its $10-a-month Music Unlimited at the end of March, four years after launching it in the United States. The streaming service, one of the biggest in Japan, is integrated into Sony's PlayStation consoles and has counted mostly PlayStation users among its subscribers. (on.wsj.com/1y82x9X)

* Facebook Inc isn't signing up new users the way it once did, but the social network is generating a lot more revenue from each user. (on.wsj.com/1K8cmu8)

* U.S. business groups are asking China to postpone a new cyber security review process that they say is too intrusive and involves disclosing sensitive material to the Chinese government. (on.wsj.com/1Ljv19L)

* A surprise move by Singapore to ease monetary policy is the latest sign of the pressure on policy makers at a time of falling commodity prices, declining inflation and softening growth expectations. (on.wsj.com/1yB1L4h)

* Reynolds American Inc won shareholder approval for its $25 billion acquisition of Lorillard Inc. Shareholders of Reynolds, Lorillard and Imperial Tobacco Group TLC voted in favor of the deal, which still needs regulatory approval. The Federal Trade Commission is expected to weigh in later this quarter. (on.wsj.com/1wCGPco)

* The Chinese government accused e-commerce giant Alibaba of failing to crack down on the sale of fake goods, bribery and other illegal activity on its sites in a rare public dispute with one of the country's most prominent companies. (on.wsj.com/1zeNhux)

* Hundreds of Standard Chartered's most senior executives gathered earlier this month on Singapore's Sentosa island to address the global bank's dimming fortunes. From a lectern at a colonial-style resort, Chief Executive Peter Sands warned that management has just a few months to turn around the bank or risk losing the support of the board of directors, according to attendees. (on.wsj.com/1CNWtZJ)

* Big money is beginning to wash over the new media landscape. Both Mashable and Business Insider are expected to announce significant venture capital investments Thursday, building on a recent trend of hefty cash infusions and valuations for the sector's biggest players. (on.wsj.com/15WpTbK) (Compiled by Supriya Kurane in Bengaluru)

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