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PRESS DIGEST - Wall Street Journal - Feb 9
February 9, 2015 / 5:31 AM / in 3 years

PRESS DIGEST - Wall Street Journal - Feb 9

Feb 9 (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 United States and Germany are struggling to maintain a united front against an unflinching Russia ahead of a crucial week of high-stakes, top-level diplomacy on the Ukraine crisis. (on.wsj.com/1Fo724Y)

* The strengthening U.S. dollar is rippling through the financial system in unexpected ways, revealing what bankers say is a hidden flaw in a Federal Reserve proposal to increase capital cushions at the nation's largest banks. (on.wsj.com/1ALSWM7)

* Dubai, through its government and ruler-owned real-estate conglomerates, is leading a construction frenzy of ambitious developments that seem to cost increasingly more with each new announcement. Dubai has slowly but surely clawed its way out of the hole it dug for itself in 2009 when a series of government-linked companies, including several under the direct control of the ruler, were unable to pay lenders on time and called for a standstill on repayments. (on.wsj.com/16Dp0Eo)

* As the telecom industry marches forward, Frontier Communications Corp is growing quickly by snapping up the unloved telephone lines its bigger competitors are leaving behind. (on.wsj.com/1znmpFq)

* Copenhagen-based Saxo Bank has taken an aggressive approach to handling customer foreign-exchange losses that followed the Swiss central bank's decision to let the franc rise against the euro. (on.wsj.com/1A48ZoK)

* The anti-austerity position taken by the just-elected government toward Greece's creditors has given new hope to many Athenians, even those who did not vote for the leftist Syriza party. (on.wsj.com/1yYYBJ9)

* Morgan Stanley is joining the hedge-fund retreat. The New York bank is looking to sell its 19 percent stake in the $17.5 billion London-based Lansdowne Partners LLP, according to people familiar with the matter. (on.wsj.com/1DvraTP)

* Coca-Cola Co and PepsiCo Inc likely will highlight rough going abroad but improving conditions at home when they publish fourth-quarter results this week. (on.wsj.com/1DSSskY)

* Credit Suisse Group AG is launching a specialty finance company to invest in the unrated debt of small or midsize U.S. companies, following in the footsteps of rivals such as Goldman Sachs Group Inc and a handful of private-equity giants. (on.wsj.com/1C9IqvW) (Compiled by Supriya Kurane in Bengaluru)

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