March 13, 2017 / 4:08 AM / a year ago

PRESS DIGEST - Wall Street Journal - March 13

March 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.

- Facing lackluster sales in the world's fifth-largest consumer market, Wal-Mart Stores Inc is making a contrarian bet in Brazil, investing heavily to revamp its U.S.-style big-box stores even as shoppers increasingly flock to smaller, cheaper options.

- Less than three years after Etihad Airways saved Alitalia SpA from bankruptcy, the Italian airline is once again on the brink. After spending 400 million euros ($427.84 million) to buy effective control of Alitalia in 2014, the Abu Dhabi-based carrier launched a much-ballyhooed effort to improve the Italian airline's service, expand its international routes and make the domestic business leaner.

- Tesla Inc's Elon Musk has set his sights on Australia, betting his company's battery technology can help solve the country's energy problems and save it from a repeat of the blackouts that struck households and businesses in the south for several days last year.

- HSBC Holdings PLC named AIA Group Ltd. Chief Executive Mark Tucker as its next chairman, the first time the bank has hired an outsider for the role in its 152-year history.

- "Kong: Skull Island" made a muscular $61 million debut at the North American box office over the weekend, but the monster movie will nonetheless need to sustain momentum to reach profitability. "Kong," released by Time Warner Inc's Warner Bros, grossed an estimated $81.6 million overseas.

$1 = 0.9349 euros Compiled by Subrat Patnaik in Bengaluru

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