July 29, 2013 / 5:00 AM / 4 years ago

PRESS DIGEST - Wall Street Journal - July 29

July 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.

* The Obama administration increasingly fears that Egypt’s military, ignoring American appeals, is deepening a crackdown that could spark a sustained period of instability and lead members of the country’s Muslim Brotherhood to take up arms. ()

* Advertising giants Omnicom Group Inc and Publicis Group SA said on Sunday that they had agreed to merge in a $35.1 billion cross-border linkup that shows how Big Data is making Madison Avenue look more like Wall Street. ()

* Retailer Saks Inc is near a deal to be bought by Hudson’s Bay Co in an acquisition that is likely about high-end real estate as much as luxury clothes. A deal would give Hudson’s Bay Chief Executive Richard Baker, a longtime real-estate investor, a lot of real-estate options, including a trophy property on Manhattan’s Fifth Avenue. ()

* German engineering giant Siemens AG signaled it would oust Chief Executive Peter Löscher in a dramatic move that reflects growing unease among investors and the group’s powerful union over the company’s direction. ()

* Heavy demand for new shares of dividend-paying companies shows that money managers are back on the hunt for yield. Key to this renewed appetite are recent signals from Fed officials that interest rates will stay low for years to come. ()

* With global economies sluggish and sales growth at a crawl, big U.S. companies have had one route to push profits higher: cut costs and squeeze suppliers. That strategy may be running out of steam. ()

* Bob Mansfield, Apple Inc’s senior vice president of technologies, no longer has a biography listed on the company website. It is unclear what circumstances surround the change. ()

* Condé Nast has deals for two magazine-related forays into television, one involving a crime documentary series based on Vanity Fair articles and the other a fashion-related reality show on Ovation. ()

* Michael Dell said that even if his attempt to take Dell Inc private were to fail he would stay at the company he founded, though he wouldn’t sell assets or commit to any leveraged recapitalization as some shareholders have advocated. ()

* Amazon.com has been spending heavily to add more distribution centers near U.S. urban centers. The online retailer plans to announce on Monday that it has openings for 5,000 jobs at 17 facilities. ()

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