PRESS DIGEST - Wall Street Journal - Jan 7
Jan 7 (Reuters) - The following were the top stories in The Wall Street Journal on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.
* President-elect Barack Obama plans to offer states $7 billion as incentive to permanently change their unemployment-insurance laws to cover part-time workers and prevent other laid-off workers from falling through cracks in the coverage.
* Alcoa Inc (AA.N: Cotización) set asset sales, a 15 percent work-force reduction, more plant closures and a 50 percent cut in capital spending.
* The Federal Reserve signaled that the recession could be longer and deeper than officials previously thought, with unemployment rising into next year and inflation slowing substantially.
* The financial company tied to Governor Richardson has a history of making campaign contributions in the states where it does business.
* Dow Chemical's (DOW.N: Cotización) chief pledged to pursue legal and other avenues to remake itself after a failed plastics venture.
* Retailers, having just struggled through one of the worst holiday shopping seasons in recent memory, are now trying to share the pain with their landlords. Many stores are pushing to negotiate lower rents, warning that they mightn't be able to make it unless their costs are cut.
* Apple Inc (AAPL.O: Cotización) unveiled significant pricing and copyright changes to its iTunes Store, moves by the dominant online music seller that could spur similar action across the industry.
* Goody's Family Clothing Inc is liquidating operations, becoming the first high-profile retailer in the U.S. to go under in a new year that is expected to see more going-out-of-business announcements. Continuación...