March 5, 2014 / 6:23 AM / 4 years ago

PRESS DIGEST - Wall Street Journal - March 5

March 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.

* The United States kept up a war of words with Russian President Vladimir Putin while hoping he will back down over Ukraine, but there was little evidence Tuesday he would. ()

* Threats by the U.S. and European powers to impose tough sanctions on Russia over its incursion into Ukraine have run into a difficult economic reality: the West has as much at stake as Moscow. ()

* China’s leaders kept the growth target for their giant economy unchanged, but signaled that they are more concerned than ever about reaching it, giving themselves the option of letting credit flow freely to keep from falling short. ()

* A federal judge ruled that a record $9.5 billion environmental-damage award against Chevron Corp was tainted by the misdeeds of a lawyer leading the lawsuit, giving the oil giant a boost in its battle against a global effort to seize its assets. ()

* Pimco is starting to get hit in its own backyard. When the Orange County pension fund met in November to decide how to put $100 million in new funds to work in the bond market, members of the investment committee made a surprising decision: They chose Swiss fund-management firm GAM Holding AG.()

* Apple Inc named corporate controller Luca Maestri to be its next chief financial officer, promoting an executive with a record of shareholder-friendly policies and extensive international experience. ()

* General Motors Co Chief Executive Mary Barra is taking charge of the auto maker’s response to a mishandled recall that has escalated into an early test of her ability to cope with a threat to the company’s reputation and its credibility with federal regulators. ()

* Fiat Chrysler Automobiles NV said it would drop a controversial request that Canada’s government subsidize retooling of a minivan factory in Windsor, Ontario, and upgrades for another Canadian plant, and instead will finance the projects on its own. ()

* RadioShack Corp plans to dramatically cut back its store count, after a sharp drop in sales over the holidays left it with a $400 million loss last year. The electronics retailer said it could close as many as 1,100 U.S. stores - one out of every four that it operates itself. ()

* BP PLC said Tuesday that it would create a new business to manage its onshore oil and natural-gas assets in the United States’s lower 48 states. ()

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