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PRESS DIGEST- Wall Street Journal - March 10
March 10, 2017 / 5:45 AM / 9 months ago

PRESS DIGEST- Wall Street Journal - March 10

March 10 (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.

- Royal Dutch Shell Plc is selling nearly all of its Canadian oil-sands developments in deals worth $7.25 billion, deserting a region that has come to symbolize the risks for energy companies in high-cost, carbon-intensive sources of oil.

- Dutch paints and chemicals maker Akzo Nobel NV said it had rejected a 20.9 billion euros ($22.15 billion) offer from U.S. peer PPG Industries Inc, setting up a trans-Atlantic standoff between two long-lived industrial giants amid a wave of consolidation in the sector.

- Americans now officially drink more bottled water than soda. It's a shift that decades ago might have seemed unthinkable—that consumers would buy a packaged version of something they could get free from a tap. But bottled-water sales have been growing in the U.S. ever since the arrival of Perrier in the 1970s. The gains accelerated in recent years amid concerns about the health effects of sugary drinks and the safety of public-water supplies.

- After almost a decade of double-digit sales growth, Lego A/S said revenue rose just 6 percent world-wide in 2016, after a big marketing push in the U.S. failed to lift stalled sales there. The world's second-largest toy maker said U.S. sales were flat for the year.

- In its quest to prove Airbnb Inc is more than a casual home-sharing service, the hotel industry issued a stinging analysis of the website that casts the company more like a professional short-term rental operation.

- Grocery heavyweights including Wal-Mart Stores, Inc , Kroger Co and Meijer Inc are broadening delivery areas across the country and the ways in which customers get their groceries.

- A group that includes Jahm Najafi, chief executive of private investment firm Najafi Cos, and private-equity firm Pamplona Capital Management has emerged as a bidder for Time Inc , according to people familiar with the matter.

- The Samsung conglomerate's de facto leader, Lee Jae-yong, and four top lieutenants formally denied all charges against them as a South Korean court opened a trial into a corruption scandal that has led to the impeachment of President Park Geun-hye.

- American International Group Inc Chief Executive Peter Hancock, apparently having lost the faith of the insurer's directors, quit at a board meeting Wednesday where his future was being discussed, according to people familiar with the matter. ($1 = 0.9434 euros) (Compiled by Subrat Patnaik in Bengaluru)

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