November 19, 2012 / 7:00 AM / in 5 years

PRESS DIGEST - Wall Street Journal - Nov 19

Nov 19 (Reuters) - The following are the top stories in the Wall Street Journal on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

* Citigroup Inc is on track to eliminate 300 sales-and-trading jobs globally in 2012, according to people briefed on the process. The cuts follow a 5 percent reduction in Citigroup’s securities-and-banking unit last year, a move that culled 900 jobs. The sales-and-trading business is part of the securities unit, which employs roughly 17,000 people. ()

* U.S. companies are scaling back investment plans at the fastest pace since the recession, signalling more trouble for the economic recovery. ()

* The trustee unwinding Lehman Brothers Inc reached an agreement with Citigroup that ends a long-running legal fight over more than $1 billion that Lehman deposited at the bank the week it filed for bankruptcy protection. ()

* Surf and skate apparel retailer Billabong International Ltd said on Monday the head of its Americas division, Paul Naude, was considering a buyout of the company. ()

* Cisco Systems Inc said on Sunday that it will acquire closely held Meraki Inc in a cash deal valued at about $1.2 billion. ()

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