PRESS DIGEST - Wall Street Journal - Dec 24

Dec 24 (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.


* A strong rally in financial markets over the past two months is expected to add a last-minute boost to bonus packages for Wall Street's traders and investment bankers, partially offsetting an otherwise grim year. ()


* U.S. companies are showering cash on shareholders, powering the stock market's record-breaking rally. Share buybacks and dividends are reaching levels unseen since before the financial crisis, as persistent economic uncertainty prompts cash-rich companies to reward shareholders rather than invest in other activities. ()


* Phoenix-based mining and energy company Freeport-McMoRan Copper & Gold awarded Chief Executive Richard Adkerson shares currently valued at about $36 million to compensate him for agreeing to give up rights to severance pay. ()


* Target Corp, working to contain damage from a 20-day breach of credit and debit-card security, held a conference call with several state attorneys general, to update them on the investigation. ()


* Carlyle Group is in exclusive talks with Johnson & Johnson to acquire the health-care company's blood-testing unit, which is expected to fetch about $4 billion, according to people familiar with the matter. The unit can screen for viruses like HIV and hepatitis C. It also makes tests that help diagnose a heart attack and assess damage to the heart. ()


* Jos. A. Bank Clothiers Inc rejected a roughly $1.5 billion acquisition offer from men's clothing retailer Men's Wearhouse Inc, which replied by saying it might seek seats on its rival's board. ()


* Walt Disney is adding Twitter Inc co-founder Jack Dorsey to the board. The company also said compensation for Chief Executive Robert Iger fell 15 percent to $34.3 million in its latest fiscal year. ()


* T-Mobile US Inc has teamed up with Facebook Inc to offer users of its GoSmart Mobile prepaid service free wireless access to the social network. T-Mobile has been boosting its postpaid customer rolls to turn around a long-struggling business. Facebook, meanwhile, may get wider access to wireless users who wouldn't otherwise have a connection to the social-media site. ()


* Tribune Co said it will buy Sony Corp's unit Gracenote Inc, best known for a large database of music data that is used by music services, for $170 million. The Chicago-based media company said Gracenote will be combined with Tribune Media Services, which sells TV listings to cable operators and other customers, as well as movie show times and other data. ()


* Rolls-Royce Holdings PLC on Monday said the U.K.'s Serious Fraud Office has opened a formal investigation into foreign bribery and corruption allegations involving employees of the U.K.-based jet and marine engine maker. ()