December 23, 2016 / 5:47 AM / 2 years ago

PRESS DIGEST - Wall Street Journal - Dec 23

Dec 23 (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.

- The U.S. government struck a $7.2 billion settlement with Deutsche Bank over toxic securities, while separately filing a lawsuit against Barclays Plc alleging more than $30 billion in fraud-tainted sales.

- Italy's government has set up a backstop fund to shore up troubled banks, setting the stage for the rescue of troubled Italian lender Banca Monte dei Paschi di Siena SpA.

- Federal investigators are asking questions about a billionaire New York hedge-fund manager and a Bermuda reinsurer as they examine the alleged fraud by hedge fund Platinum Partner.

- Bridgewater Associates LP, the world's largest hedge-fund firm, wants day-to-day management including hiring, firing and decision-making to be guided by software that doles out instructions. The project is the latest bid by founder Ray Dalio to perpetuate his unorthodox philosophy.

- Incoming U.S. President Donald Trump rounded out his senior White House team, elevating a set of trusted advisers who helped engineer his surprise election victory and bringing some of the rhythms and spirit of his unconventional campaign into the government he will soon lead.

- Uber Technologies Inc is moving a test of its self-driving cars to the friendlier environs of Arizona after suffering a regulatory defeat in California over its use of the vehicles in San Francisco.

- Brazilian construction giant Odebrecht's admission to U.S. prosecutors that it paid hundreds of millions of dollars in bribes to win lucrative infrastructure contracts is reverberating across Latin America, sparking a political crisis.

- Beijing is considering retaliatory steps after Trump appointed China trade skeptic Peter Navarro to head American trade and industrial policy.

- Ivory Coast in October became Africa's fastest-growing economy, a sharp reversal from 2011, when a bloody civil war left 3,000 people dead. (Compiled by Parikshit Mishra in Bengaluru)

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