December 1, 2016 / 6:41 AM / in 2 years

PRESS DIGEST - Wall Street Journal - Dec 1

Dec 1 (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.

- Donald Trump's nominee for Treasury secretary, who worked for Goldman Sachs and billionaire investor George Soros, made millions buying failed IndyMac. His resume appears at odds with the president-elect's campaign rhetoric, which targeted Wall Street bankers.

- In a letter sent on Wednesday, incoming Senate Minority Leader Chuck Schumer said the takeovers of U.S. companies by China's Dalian Wanda Group Co and others warrant further scrutiny to determine whether they are being orchestrated by Chinese government interests - possibly leaving U.S. companies to compete on an uneven playing field. The move increases the likelihood of a re-examination of how the U.S. allows the nation to invest in American companies.

- Colombian legislators approved a peace agreement late Wednesday with the country's communist guerrillas, ending Latin America's longest armed conflict, which killed hundreds of thousands of people over the course of 52 years.

- OPEC representatives reached a landmark deal to reduce oil output, propelling crude prices more than 8 percent after months of wrangling and market uncertainty about the ability of the once-mighty group to strike an agreement.

- High-income households will not receive an "absolute tax cut" under a Trump tax plan, the president-elect's new pick for Treasury secretary Steven Mnuchin said on Wednesday, a promise that is at odds with tax proposals from Donald Trump and House Republicans.

- The federal government is on track to forgive at least $108 billion in student debt in coming years, as more and more borrowers seek help in paying down their loans, leading to lower revenues for the nation's program to finance higher education.

- Donald Trump said he is taking steps to separate himself from his businesses "to fully focus on running the country". But House Democrats and others questioned whether conflicts of interest would remain if his adult children take operational control of his global real-estate empire.

- The House on Wednesday passed far-reaching legislation aimed at bolstering federal funds for biomedical research and speeding up drug and medical-device approvals by the Food and Drug Administration, a goal long sought by the pharmaceutical industry.

- Malicious software disguised as legitimate apps for Android smartphones and tablets has seized control of more than one million Google accounts since August, according to research from security firm Check Point Software Technologies Ltd .

- Facebook Inc Chief Operating Officer Sheryl Sandberg put more than $100 million into her charitable fund with plans to give to groups that promote women's rights and help grieving families. (Compiled by Aurindom Mukherjee in Bengaluru)

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