PRESS DIGEST – Wall Street Journal – Jan 12

Jan 12 (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.

– Facebook Inc is broadly overhauling the way it presents news and information on its platform, as it struggles to address criticism from users and others about the quality of the content shared there and its effect on society. on.wsj.com/2muskgb

– Fiat Chrysler Automobiles NV said Thursday it would invest $1 billion to move production of profitable trucks from Mexico to Michigan, a move that will significantly lower the auto maker’s exposure to potential changes to the North American Free Trade Agreement. on.wsj.com/2mu46Cx

– Qualcomm Inc is set to clinch conditional European Union antitrust approval for its $39 billion acquisition of NXP Semiconductors NV, as soon as next week. on.wsj.com/2msJwm6

– Luxury goods company Kering moved to shed most of its controlling stake in the German sportswear company Puma , announcing a plan to distribute 70 pct of Puma’s shares to Kering shareholders. on.wsj.com/2muehHq

Compiled by Bengaluru newsroom

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PRESS DIGEST - Wall Street Journal - Jan 12
PRESS DIGEST - Wall Street Journal - Jan 12

Walmart hikes minimum wage, announces layoffs on same day

NEW YORK Walmart on Thursday said it will raise entry-level wages for U.S. hourly employees to $11 an hour in February as it benefits from last month’s major corporate tax cut and on the same day said it will shut stores and lay off thousands of workers. | Video

House passes NSA spying bill after Trump tweets cause confusion

PRESS DIGEST - Wall Street Journal - Jan 12

The U.S. House of Representatives on Thursday passed a bill to renew the National Security Agency’s warrantless internet surveillance program, overcoming objections from privacy advocates and confusion prompted by morning tweets from President Donald Trump that initially questioned the spying tool.  Full Article 

Source: Reuters

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