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PRESS DIGEST - Wall Street Journal - Oct 1

Published 2018-10-01, 03:53 a/m
© Reuters.  PRESS DIGEST - Wall Street Journal - Oct 1
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Oct 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.

- Tesla Inc's TSLA.O Elon Musk's deal with U.S. securities regulators, a stunning turnaround announced over the weekend, allows him to remain chief executive and keep his board seat despite being removed as chairman of the company. https://on.wsj.com/2ItdGzl

- A European Union privacy watchdog could fine Facebook Inc FB.O as much as $1.63 billion for a data breach announced Friday in which hackers compromised the accounts of more than 50 million users, if regulators find the company violated the bloc's strict new privacy law. https://on.wsj.com/2Iroz4E

- Germany's Thyssenkrupp AG's TKAG.DE supervisory board in a meeting Sunday unanimously approved the plan presented last week under the lead of Guido Kerkhoff to divide the company into two independently traded companies - one comprising the company's materials operations and the other the group's capital goods businesses. https://on.wsj.com/2IuEVcT

- Chinese internet giant Tencent Holdings Ltd 0700.HK announced its first restructuring in six years Sunday, including creating a new division to focus on business services such as cloud computing. https://on.wsj.com/2Is0fQl

- Saudi Arabia has put on hold a $200-billion plan with SoftBank Group Corp 9984.T to build the world's biggest solar-power-generation project, Saudi government officials said, in a complication for another eye-catching transformation project in the kingdom. https://on.wsj.com/2IrrvhG

- California Governor Jerry Brown on Sunday signed a bill reinstating Obama-era open-internet rules in the state, and the Justice Department responded almost immediately with a lawsuit seeking to overturn the net-neutrality law. https://on.wsj.com/2Iw9Gyk

- Husky Energy Inc HSE.TO said it has made an unsolicited bid to acquire oil-sands producer MEG Energy Corp MEG.TO in what would be a combination of Canadian petroleum companies. The company said it was proposing to purchase MEG for C$3.3 billion ($2.57 billion) in a cash-and-stock deal. https://on.wsj.com/2Iw9Y8o

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