PRESS DIGEST- Wall Street Journal - April 5
April 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.
- Consulting firm McKinsey & Co is winding down its bankruptcy practice after numerous lawsuits and government investigations concerning the division's work advising troubled borrowers
- Johnson & Johnson has proposed paying at least $8.9 billion to thousands of people who sued the company alleging that their use of J&J's talc-containing powders caused cancer, in what would be one of the biggest product-liability settlements ever.
- Hedge fund Farallon Capital Management is planning to wage a proxy battle at biotech company Exelixis Inc.
- Hestia Capital Management LLC is calling for shipping-services company Pitney Bowes Inc to replace its longtime chief executive and reset the company's finances before reviewing strategic alternatives for its e-commerce business.
- The Mexican government reached an agreement to buy 13 power-generation plants from Spanish electricity company Iberdrola SA for around $6 billion, the latest bid by Mexican President Andrés Manuel López Obrador to recover state share of the industry, the government and the company said.
- Brandon Johnson, a Cook County Board commissioner with strong backing from the Chicago Teachers Union, pulled an upset victory over former schools chief Paul Vallas to become mayor of the country’s third-largest city after a contentious race focused on public safety. (Compiled by Bengaluru newsroom)
