PRESS DIGEST -Wall Street Journal – Jan 31

Jan 31 (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.

– International Business Machines Corp said Chief Executive Ginni Rometty is stepping down after a challenging eight-year run at the top of the iconic technology company, as she struggled to deliver growth at a time other tech giants’ fortunes blossomed.

– Unilever Plc is exploring the sale of its tea business after years of sluggish sales growth, in a sign of how changing tastes are roiling some of the world’s best-known food and drink brands.

– Altria Group Inc on Thursday said the value of its stake in Juul fell by $4.1 billion in the fourth quarter. It now values the e-cigarette maker at about $12 billion, down from its $38 billion valuation when Altria invested in December 2018.

– A government report to be released in coming days says Southwest Airlines Co failed to prioritize safety and the airline’s regulator, the Federal Aviation Administration, hasn’t done enough about it.

– The truck unit of Volkswagen AG has offered to fully take over Navistar International Corp in an all-cash transaction valued at roughly $2.9 billion. A deal would combine two of the world’s largest truck makers.

Compiled by Bengaluru newsroom

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