PRESS DIGEST - Wall Street Journal - Jan 13
Jan 13 (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.
* Spanish prosecutors are investigating how Banco Santander (SAN.MC: Cotización) lost more than $3.1 billion for clients by investing with Madoff.
* Alcoa Inc (AA.N: Cotización) swung to a steep fourth-quarter loss as the aluminum maker posted declines in sales prices and demand in its traditional markets.
* Citigroup Inc (C.N: Cotización) and Morgan Stanley (MS.N: Cotización) could reach a pact to merge their brokerage units within days. The likely deal shows how brokers are emerging as one of Wall Street's biggest hopes for recovery.
* CEOs at six major U.S. companies lost their jobs in just the last eight days, a sign of turmoil to come, say directors and recruiters.
* General Motors Corp (GM.N: Cotización) appears to be off to a slow start to meet the mandates of a federal bailout, and its top executive said the company hasn't ruled out a bankruptcy filing.
* Christie's International PLC, the world's largest auctioneer, says it is making "significant" job cuts in its bid to stay profitable during the art-market slowdown.
* The European Commission said it opened an antitrust investigation into Standard & Poor's, focusing on whether it abused its dominant market position in the business of assigning identification numbers to stocks and bonds.
* Railroad giant CSX Corp CSX.N said it will take a fourth-quarter non-cash charge of 27 cents a share, due to the economic baggage from the lavish Greenbrier resort it owns in West Virginia. Continuación...