December 8, 2014 / 6:18 AM / 3 years ago

PRESS DIGEST - Wall Street Journal - Dec 8

Dec 8 (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.

* Many of the world's top policy makers are rewriting their economic forecasts for the United States, Europe, Japan and elsewhere, betting plummeting oil prices will lead to an overall boost in the global economy. (on.wsj.com/1InnAwN)

* Banks are urging some of their largest customers in the United States to take their cash elsewhere or be slapped with fees, citing new regulations that make it onerous for them to hold certain deposit. The banks, including J.P. Morgan Chase & Co, Citigroup Inc, HSBC Holdings Plc, Deutsche Bank AG and Bank of America Corp, have spoken privately with clients in recent months to tell them that the new regulations are making some deposits less profitable. (on.wsj.com/1wQbTeC)

* U.S. companies trying to avoid running afoul of the recent sanctions against Russia say they face a monumental challenge - figuring out which companies are owned by those blacklisted. (on.wsj.com/1A7hjzo)

* Workers at U.S. assembly plants for General Motors Co and Ford Motor Co are likely to get 2014 bonuses exceeding $6,000 each, capping a four-year labor contract under which profit-sharing checks have gone to factory employees in record amounts. But the United Auto Workers union, gearing up for negotiations with Detroit's Big Three next summer, is prepared to argue that is not good enough. (on.wsj.com/12ClbNC)

* Indonesian President Joko Widodo, the new leader of the world's fourth-largest nation, promised to move aggressively to lower barriers to investment and overcome decades of unmet potential that have left the country lagging behind more dynamic Asian nations. (on.wsj.com/1u7fRcB)

* Temasek Holdings, Singapore's state investment firm, agreed to buy 10 percent of high-frequency trading firm Virtu Financial LLC for about $200 million, according to people familiar with the matter. (on.wsj.com/1wmgrcX)

* Blackstone Group LP has agreed to sell its northern California portfolio of 26 office buildings for $3.5 billion to a Los Angeles-based real-estate investment trust, Hudson Pacific Properties Inc, its largest office sale in seven years. (on.wsj.com/1zDE79Y)

* Sugar is getting dearer in the United States even as it is getting cheaper in most other places, putting pressure on candy manufacturers to raise prices. (on.wsj.com/1qhbYWl)

* Google Inc's YouTube unit is racing to lock up its top stars as rival online video services court them aggressively. Facebook Inc and video startup Vessel, among others, have tried to lure YouTube creators to their services in recent months, according to people familiar with the discussions. (on.wsj.com/1zDnprn)

* Music service Grooveshark has spent years embroiled in legal battles with record labels because the company didn't obtain licenses for the music it offered free to its millions of users. Now the eight-year-old company is trying a fresh approach: playing by the rules. Launching what a company spokesman calls its "first compliant app," Grooveshark plans to roll out a digital radio service in January that will cost 99 cents a month and run without commercials. (on.wsj.com/1yZ3wM1)

* The North Dakota Industrial Commission will meet on Tuesday to complete steps it proposed last month that would require oil companies as of Feb. 1 next year to start removing volatile gaseous compounds before shipping their crude on railroads crisscrossing the country. (on.wsj.com/1s3aXSN) (Compiled by Supriya Kurane in Bengaluru)

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