PRESS DIGEST -Wall Street Journal – June 13

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VAM Funds names Robert Gordon director of two funds


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June 13 (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.

– A federal judge ruled that AT&T Inc can proceed with its blockbuster acquisition of Time Warner Inc, without any conditions, marking a historic defeat for the Justice Department that could rewrite the media landscape and set the stage for other deals. on.wsj.com/2y3JZDG

– Tesla Inc on Tuesday said it will cut about 9 percent of its workforce in an effort to deliver its first profit during a make-or-break period of building a mass-market electric car. on.wsj.com/2y442BV

– Swiss mining giant Glencore PLC unveiled a sweeping $5.6 billion restructuring of its troubled Congo copper company, Katanga Mining Ltd, resolving a heated dispute with Congo’s state-run mining company about a massive debt load it has built up over the past decade. on.wsj.com/2t49Vcr

– Guess? Inc co-founder Paul Marciano has resigned as executive chairman and will leave the company next year after an internal investigation determined he exercised “poor judgment” in some situations involving models and photographers. on.wsj.com/2y6XKBh

– AstraZeneca PLC and Eli Lilly & Co on Tuesday scrapped two late-stage trials of an experimental Alzheimer’s drug they were co-developing, the latest blow in the long quest to find a breakthrough for the memory-robbing disorder. on.wsj.com/2t4IDTd

– The Seattle City Council voted to repeal a newly passed per-employee tax on big companies designed to raise funds for homeless services, a surprise move that came after fierce opposition from the business community and growing public debate. on.wsj.com/2y7Q2qx (Compiled by Bengaluru newsroom)



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