December 17, 2015 / 5:53 AM / 2 years ago

PRESS DIGEST - Wall Street Journal - Dec 17

Dec 17 (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 Federal Reserve said it would raise its benchmark interest rate from near zero for the first time since December 2008 - to a range between 0.25 percent to 0.50 percent - and emphasized it will likely lift it gradually thereafter in a test of the economy's capacity to stand on its own. (on.wsj.com/1OwuU9t)

- The United States and Russia will jointly push the United Nations Security Council on Thursday to enforce stricter measures to counteract the funding of Islamic State and other terrorist organizations. (on.wsj.com/1ZcABAW)

- Hilton Worldwide Holdings Inc is pursuing a spinoff of its hotels into a real-estate investment trust, a move that has become popular among companies looking to slim down and boost their stocks. Hilton has sought the blessing of the Internal Revenue Service for the transaction, which would involve a large chunk of the hotels it owns, according to people familiar with the matter. (on.wsj.com/1lQGhlR)

- Microsoft Corp disclosed new details of a plan to work with a Chinese partner to accelerate adoption of the Windows 10 operating system introduced last summer. The company late Wednesday said it will set up a jointly owned entity with China Electronics Technology Group Corp, a state-owned company that provides technology for Chinese military and civilian use. (on.wsj.com/1IashgO)

- Sheldon Adelson, a billionaire casino magnate and major Republican donor, backs the mysterious company that last week purchased the Las Vegas Review-Journal, according to a person familiar with the matter. (on.wsj.com/1Iahx20)

Compiled by Sneha Johny in Bengaluru

Our Standards:The Thomson Reuters Trust Principles.
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