November 12, 2014 / 5:54 AM / in 3 years

PRESS DIGEST - Wall Street Journal - Nov 12

Nov 12 (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 China have unveiled long-term plans to curb emissions of carbon dioxide and other gases linked to climate change, a surprise move aimed at kick-starting a new round of international climate negotiations and blunting domestic opposition to cuts in both countries. (on.wsj.com/1xwa0C4)

* Applications to U.S. graduate schools from Asia, led by India, have jumped in recent years, but total enrollment has only inched up as mounting debt appears to be suppressing the number of U.S. applicants. (on.wsj.com/14bBwKt)

* General Motors Co President Dan Ammann is leading a push to change how the century-old Detroit auto maker sells and produces cars around the world. (on.wsj.com/1xwl7eh)

* Christopher Giancarlo, a commissioner at the Commodity Futures Trading Commission has said new rules governing derivatives markets are sending trading overseas, threatening Wall Street jobs and potentially destabilizing financial markets. (on.wsj.com/1zL0SMo)

* Activist investor William Ackman has taken a roughly $2 billion stake in Zoetis Inc and could push the animal-health company to sell itself to a large drug maker like Valeant Pharmaceuticals International Inc. (on.wsj.com/1wRhJuq)

* U.S., British and Swiss regulators are set to penalize big banks for alleged improprieties in the foreign-exchange markets, and individual employees are next in line for scrutiny. (on.wsj.com/1ukK4bM)

* Media companies including Walt Disney Co, CBS Corp , Viacom Inc and Time Warner Inc have sought the intervention of the D.C. Circuit Court of Appeals to stop the Federal Communications Commission from requiring them to disclose details of TV contracts as part of two big ongoing merger reviews. (on.wsj.com/10XjV7h)

* Yahoo Inc said it was paying about $640 million in cash to buy video-ad startup BrightRoll Inc, its largest deal since the October initial public offering of Alibaba Group Holding Ltd and its second-largest acquisition during Marissa Mayer's tenure as chief executive. (on.wsj.com/11gbAMQ)

* Wal-Mart Stores Inc is abandoning the frenzied one-day-only "Black Friday" sales model used to jump-start the annual holiday-shopping season. The world's biggest retailer instead will offer its best deals on television sets, toys and other gifts over a five-day period beginning in the last week of November into early December. (on.wsj.com/1GNDJed)

* Brick-and-mortar retailers who had hoped Congress would pass a bill to effectively end tax-free online shopping are likely to be disappointed, as House Speaker John Boehner indicated this week that he would block the measure. (on.wsj.com/1zL4w90)

* The European Union's new competition chief, Margrethe Vestager, said she would take her time to investigate the antitrust concerns posed by Google Inc's control over large amounts of data. (on.wsj.com/1xw7FqW)

* General Motors Co said it would reduce production and lay off 510 workers at two Michigan assembly plants to trim inventories of slower-selling vehicles even as auto sales generally remain red hot. (on.wsj.com/10Xr8UT)

* Microsoft Corp, Hewlett-Packard Co and Apple Inc are likely to be some of the big beneficiaries if a deal reached between China and the United States leads to slashed tariffs on a range of technology products around the world, including videogame consoles, advanced chips and prepaid cards. (on.wsj.com/1zi4fYb)

* Chrysler Group LLC will start repairs on about 371,000 vehicles equipped with potentially defective Takata Corp air bag inflators in December, nearly six months after it said it would comply with a request by U.S. safety regulators to make fixes. (on.wsj.com/1zLa5Er)

* Google Inc has signed a long-term lease with NASA for part of a historic Navy air base and will pay $1.16 billion in rent over 60 years for the property, where it plans to renovate three large hangars and use them for projects involving aviation, space exploration and robotics. (on.wsj.com/1swtxMq) (Compiled by Luke Koshi in Bangalore)

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