PRESS DIGEST - Wall Street Journal - Jan 27
Jan 27 (Reuters) - The following were the top stories in The Wall Street Journal on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.
* Pfizer's (PFE.N: Cotización) blockbuster deal to buy Wyeth WYE.N raised hopes about deal financing, but the $22.5 billion loan Pfizer is getting doesn't mean the spigot is back on.
* Home sales jumped 6.5 percent in December, the biggest monthly increase in nearly seven years, as falling prices drew out buyers.
* John Thain came out swinging against his former boss, Bank of America (BAC.N: Cotización) Chairman and Chief Executive Kenneth Lewis, saying he was "completely transparent" about big fourth-quarter losses at Merrill Lynch & Co. that cost him his job last week.
* U.S. retail sales are forecast to decline 0.5 percent this year as consumers continue to pull back, according to the National Retail Federation.
* The global economic picture continued to darken Monday as Caterpillar Inc (CAT.N: Cotización) said it is cutting more jobs, bringing the total to about 20,000 it will have eliminated within a few months.
* The chairman of Banco Santander (SAN.MC: Cotización) faced down critical shareholders and promised to unveil "magnificent" results next week.
* General Motors Corp (GM.N: Cotización) will lay off 2,000 more workers this spring and schedule down time at many assembly plants in reaction to declining sales.
* IBM (IBM.N: Cotización) sent layoff notices to more than 2,800 people in its sales and software groups in the U.S. last week, indicating that domestic job cuts at the technology giant may be more significant than it has signaled. Continuación...