PRESS DIGEST - Wall Street Journal - Jan 4

Tue Feb 4, 2014 12:17am EST
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Feb 4 (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.

* Ten big drug companies that have spent billions racing one another to find breakthroughs on diseases like Alzheimer's have formed an unusual pact to cooperate on a government-backed effort to accelerate the discovery of new medicines. ()

* American companies are struggling with falling prices for a number of their key products amid intense competition and pressure from cost-conscious customers. Corporate revenues are showing the strain, whether from lower prices, weak demand or a combination of the two. ()

* The head of the nation's top telecommunications regulator conveyed skepticism about further consolidation in the wireless industry during a meeting with Sprint Corp board members on Monday, a person briefed on the meeting said. ()

* Revelations about NSA eavesdropping have given foreign governments an opening to restrict U.S.-based IT companies, which are being depicted as either too compliant with or complicit in the spying. ()   Continued...