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PRESS DIGEST - Wall Street Journal - March 1
March 1, 2017 / 5:53 AM / 10 months ago

PRESS DIGEST - Wall Street Journal - March 1

March 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.

- President Donald Trump on Tuesday turned from the ominous language that characterized his major campaign speeches as he delivered an impassioned plea for Congress to capitalize on a political uprising and unite behind major overhauls of health care and tax laws. He referred to the surge of nationalism that lifted him into the White House as a "renewal of the American spirit,"

- Google's YouTube on Tuesday unveiled a web-TV service that will offer a package of over 40 broadcast and cable channels for $35 a month, making the tech giant the latest entrant in a race to win over millions of consumers who are shifting away from traditional TV.

- An outage at Inc.'s cloud-computing service disrupted internet traffic across the U.S. on Tuesday, showing the increasing power cloud companies have over large portions of the web. The outage, which began around 1 p.m. EST, stemmed from a failure at Amazon's S3 cloud-storage service at its North Virginia data centers.

- Target Corp.'s chief vowed to invest billions of dollars to lower prices and remodel hundreds of stores, an admission that the retailer's focus on trendy merchandise wasn't enough to attract shoppers. Chief Executive Brian Cornell defended his strategy of focusing on physical stores amid an industrywide shift to online sales. Target reported sales and profit declines for the holiday quarter, and gave an even gloomier outlook. The company said its 2017 profit would fall as much as 25 percent below what Wall Street had forecast.

- President Donald Trump on Wednesday will sign a revised executive order banning certain travelers from entering the U.S., but unlike the original version, it is likely to apply only to future visa applicants from targeted countries.

Compiled by Sangameswaran S in Bengaluru

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