November 5, 2014 / 6:28 AM / 3 years ago

PRESS DIGEST - Wall Street Journal - Nov 5

Nov 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.

* Republican Senate candidates won sweeping victories on Tuesday, capturing Democratic-held Senate seats and giving the party control of Congress for the first time in eight years. (on.wsj.com/1zvbcrI)

* BHP Billiton Ltd will soon sell U.S. oil abroad without explicit permission from the government in another sign that the decades-old federal ban on crude exports is crumbling. (on.wsj.com/1tYXHgt)

* Investors pulled an industry record $27.5 billion from Pacific Investment Management Co Ltd's flagship fund last month as the surprise exit of co-founder Bill Gross took its toll on the firm he co-founded. (on.wsj.com/1tyaghr)

* The speedy acquittal of Raoul Weil, a former top UBS AG official accused of helping Americans evade U.S. taxes, could complicate government efforts to prosecute other high-level executives for criminal conduct. (on.wsj.com/1tGurvk)

* The European Union on Tuesday cut its growth forecasts for this year and next, citing a lack of internal investment and political tensions in Ukraine and the Middle East. (on.wsj.com/1xbG4ZY)

* Chinese e-commerce firm Alibaba Group Holding Ltd said on Tuesday that revenue for the quarter rose 54 percent to $2.74 billion, as more business flowed through the company's online shopping sites while its earnings for the quarter ended in September fell 39 percent from a year earlier to $494 million, largely because of stock awards to employees and executives. (on.wsj.com/10TSqMr)

* Monster Worldwide Inc said Timothy Yates would take over as the company's chief executive, effective immediately, following the resignation of Salvatore Iannuzzi, who left the role for personal reasons. (on.wsj.com/1oiYus2)

* Private-equity shops have been advising public pension funds to keep secret details about fees, interactions with regulators and other investment data, sometimes threatening to punish investors that do not heed the warnings. (on.wsj.com/1pjGVsw)

* A federal judge said Allergan Inc raised "serious questions" about the legality of Pershing Square Capital Management LP's and Valeant Pharmaceuticals International Inc's joint $53 billion takeover bid, but he stopped short of blocking them from voting a 9.7 percent Allergan stake at a shareholder meeting next month. (on.wsj.com/10TVwQD) (Compiled by Luke Koshi in Bangalore)

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