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PRESS DIGEST - Wall Street Journal - March 9
March 9, 2017 / 5:18 AM / 8 months ago

PRESS DIGEST - Wall Street Journal - March 9

March 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.

- A leading contender to purchase Time Inc dropped out of the bidding process after the publisher set a deadline for final bids within two weeks, according to people familiar with the matter.

- Uber Technologies Inc said it will stop using technological tools to evade government officials seeking to identify and block the service's drivers.

- Alphabet Inc's Google is pitching potential corporate customers on its vast network of computers and artificial-intelligence tools, and often undercutting the prices of the two incumbents that dwarf it, cloud-computing pioneer Inc and corporate-tech veteran Microsoft Corp.

- Samsung Electronics Co Ltd is planning a major investment to expand its U.S. production facilities, according to people familiar with the matter, with at least five states in discussions.

- Bristol-Myers Squibb Co said it would replace its research-and-development chief, naming a Massachusetts General Hospital executive to the key job as the company seeks to move past a major drug-development setback.

- RadioShack owner General Wireless Operations Inc filed for chapter 11 protection Wednesday night, the electronics retailer's second trip to bankruptcy court in as many years after a partnership with wireless provider Sprint Corp unraveled.

- Twitter Inc co-founder Biz Stone is headed to Pinterest Inc, the image-discovery company that is now valued by investors at the same amount as the short-messaging service he helped start a decade ago.

- Federal Communications Commission Chairman Ajit Pai defended his promised rollbacks of Obama-era privacy and net-neutrality rules at a hearing Wednesday, saying they are necessary to maintain broadband investment. (Compiled by Subrat Patnaik in Bengaluru)

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