PRESS DIGEST - Wall Street Journal - June 5

Reuters

June 5 (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.

* Slammed by declining revenue, the trading businesses inside the biggest global investment banks are expected to suffer job losses that could run into the thousands by the end of the year. The culprit: a persistent gap between revenue and employment. (http://r.reuters.com/suh89v)

* An internal probe of General Motors Co's delay in recalling cars with defective ignition switches linked to at least 13 deaths is expected to conclude there was no concerted coverup and clear senior management of blame. (http://r.reuters.com/qah89v)

* The prospect of massive penalties for allegedly violating U.S. sanctions has sparked a debate within BNP Paribas SA's executive suites over whether top officials, including the French bank's chairman, should resign. (http://r.reuters.com/keg89v)

* Sprint Corp and T-Mobile US Inc have agreed on the broad outlines of a merger valuing T-Mobile at around $32 billion, as recent regulatory developments convinced executives at both telecommunications companies that they have an opening to get a deal approved. (http://r.reuters.com/vuh89v)

* A planned $50 billion merger between cement giants Holcim Ltd of Switzerland and Lafarge SA of France still faces significant hurdles in Europe as the companies seek to reshape an industry that is already under investigation on several fronts by European Union antitrust authorities. (http://r.reuters.com/nuh89v)

* China's powerful state-run television broadcaster criticized Microsoft Corp's Windows 8 operating system in a national news show on Wednesday, adding to the software maker's challenges in a traditionally tough market. In its widely watched noon news broadcast, China Central Television aired a segment that questioned the operating system's security. (http://r.reuters.com/muh89v) (Compiled by Supriya Kurane in Bangalore)

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