January 5, 2018 / 5:43 AM / 2 months ago

PRESS DIGEST -Wall Street Journal - Jan 5

Jan 5 (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.

- Travis Kalanick plans to sell 29 pct of his shares in Uber Technologies Inc, the ride-hailing giant he co-founded, as part of a broader investment deal led by SoftBank Group Corp . on.wsj.com/2Ata8HJ

- Weinstein Co is nearing the end of a sale process in which the embattled independent film studio could go for less than $500 million and its shareholders may lose all of their equity. Following a Dec 22 deadline that brought in about 20 offers, Weinstein Co's owners and board of directors have narrowed down a list of potential buyers to six. on.wsj.com/2AuxJHY

- Neiman Marcus Group Ltd, the luxury retailer saddled with debt from two leveraged buyouts, is preparing to appoint former Ralph Lauren Corp executive Geoffroy van Raemdonck as the new chief executive. Karen Katz, who has served as CEO and president of the company since 2010, is stepping aside. on.wsj.com/2AtMfjg

- Westinghouse Electric Co, a faded industrial giant that once helped electrify the world but recently fell into bankruptcy because of bad bets building nuclear power plants, is being sold to Canadian conglomerate Brookfield Business Partners LP in a deal valued at $4.6 billion. on.wsj.com/2AtEcTF

- The Office of the Comptroller of the Currency on Thursday fined Citigroup Inc for $70 million saying that the bank hasn't adhered to a 2012 order that accused it of failing to fully comply with the Bank Secrecy Act. The act requires financial firms to report suspicious activities and take other measures to prevent potential money laundering. on.wsj.com/2Au2j4H

Compiled by Bengaluru newsroom

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