PRESS DIGEST - Wall Street Journal - March 13

Reuters
13 Mar
PRESS DIGEST - Wall Street Journal - March 13

March 13 (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.

- Intel INTC.O named Lip-Bu Tan as its new chief executive, selecting a former board member and longtime industry executive to help turn around the beleaguered semiconductor company.

- Sunnova Energy NOVA.N, one of United States' largest residential solar companies, is preparing to engage with creditors to explore options, including a potential bankruptcy filing, over its roughly $8.5 billion in debt.

- Algoma Steel Group ASTL.TO expects tariffs to hurt its finances and operations, though the company said it is too early to estimate the full extent of the effects.

- Chinese authorities summoned Walmart WMT.N officials for a dressing-down this week after receiving complaints that the retailer was pressuring some Chinese suppliers to cut prices to absorb the cost of U.S. tariffs.

- Fossil Group FOSL.O plans to close 50 stores and cut jobs in a turnaround plan to focus on its core Fossil brand platform in a cost savings effort.

- Alimentation Couche-Tard ATD.TO will continue its friendly pursuit of Seven & i 3382.T, executives said, sounding confident that they can overcome antitrust issues that could block the prospective acquisition in the U.S.

- A U.S. federal judge blocked most of a White House executive order punishing Perkins Coie, saying the administration had put itself at odds with the First Amendment by targeting the law firm based on President Donald Trump's dislike of its work for his political opponents.

(Compiled by Bengaluru newsroom)

((globalnewsmonitoring@thomsonreuters.com))

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