PRESS DIGEST - Wall Street Journal - Nov 24
Nov 24 (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.
- Yahoo Inc Chief Executive Marissa Mayer has repeatedly said reviving growth at the company would take multiple years. However, many insiders have lost patience, saying the embattled boss has no clear sense of direction and has misled investors and advertisers about the company's progress. (on.wsj.com/1PWqTzg)
- Apple Inc plans to launch its new Apple Pay electronic-payment service in China by early February, according to people familiar with its discussions, potentially bringing it to a vibrant but fiercely competitive market for digital money. (on.wsj.com/1PWqVqK)
- William Ackman's Pershing Square Capital Management LP disclosed an increased 9.9 percent stake in Valeant Pharmaceuticals International Inc, a move that comes after the hedge fund manager said he had taken advantage of the beaten-down market for the stock to build up his position. (on.wsj.com/1PWqWe8)
- Xerox Corp has struggled for years with shrinking sales of printers and copiers. Now the 109-year-old company has a new challenge in activist investor Carl Icahn, who has taken a big stake and is trying to shake things up. (on.wsj.com/1PWr2m2)
- The $155 billion agreement to combine Pfizer Inc with Allergan Plc would create a drug behemoth so big that Pfizer is already thinking of breaking it up. On Monday, executives said they would consider splitting the combined company into two by 2018. (on.wsj.com/1PWr5yk) (Compiled by Ismail Shakil in Bengaluru)
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