October 13, 2016 / 4:46 AM / 2 years ago

PRESS DIGEST - Wall Street Journal - Oct 13

Oct 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.

- Samsung Electronics Co cut its preliminary third-quarter earnings guidance figures on Wednesday, a day after announcing that it would permanently discontinue its troubled Galaxy Note 7 smartphone. on.wsj.com/2d8JcWT

- Tesco PLC, Britain's largest grocer, pulled products made by Unilever PLC from its online shopping site because of a dispute over pricing in the wake of the pound's sharp descent, according to a person familiar with the matter. on.wsj.com/2d8JkWn

- Toyota Motor Corp disclosed talks with Suzuki Motor Corp about an alliance to share the burden of developing self-driving cars and low-cost vehicles, a step the two auto makers said was needed to survive "unprecedented" change. on.wsj.com/2d8IIAa

- The South Korean bankruptcy court handling Hanjin Shipping Co's insolvency proceedings said Thursday it plans to dispose of the firm's sales and marketing network for its Asia-U.S. route, in an effort to raise funds and help rehabilitate the indebted company. on.wsj.com/2d8JDkl

- Ericsson AB, one of the world's largest makers of telecom equipment, capped a series of management-shakeup and job-cut announcements with a profit warning that sent its share price tumbling and laid bare how the rise of Asian rivals has wounded Western suppliers. on.wsj.com/2d8IAAP

- Wells Fargo & Co Chairman and Chief Executive John Stumpf, under fire for the bank's sales-tactics scandal and his own handling of its fallout, is stepping down from both roles, effective immediately, the bank said. on.wsj.com/2d8JHjI

- Amazon.com Inc said it plans to start a new music streaming service that - like at least half a dozen competitors - offers on-demand, unlimited access to tens of millions of songs for a monthly fee. on.wsj.com/2d8ISYo

- The Organization of the Petroleum Exporting Countries increased its production last month, the group said in a report on Wednesday. But the data for how much production rose conflicts with information provided by individual member countries, underscoring the challenges ahead as OPEC tries to complete a deal to cut production. on.wsj.com/2d8KFNb (Compiled by Subrat Patnaik in Bengaluru)

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