November 25, 2011 / 6:24 AM / 9 years ago

PRESS DIGEST - Wall Street Journal - Nov 25

Nov 25 (Reuters) - The following were the top stories in The Wall Street Journal on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

* AT&T signaled for the first time that its planned $39 billion acquisition of T-Mobile USA is more likely to fail than to succeed.

* The IMF warned that market concerns over fiscal sustainability could trigger a “sudden spike” in government bond yields that could “quickly” render the nation’s debt unsustainable and shake the global economy.

* U.S. lawmakers plan to scrutinize the relationship between former MF Global CEO Jon Corzine and the credit-rating firms that downgraded the brokerage as it hurtled toward bankruptcy.

* Chow Tai Fook Jewellery Group Ltd, the jewelry retailer controlled by Hong Kong tycoon Cheng Yu-tung, plans to raise up to US$2.8 billion in a Hong Kong initial public offering, people familiar with the situation said Friday.

* German drug maker Merck KGaA has asked a New York City court to force Facebook Inc to explain how the German company lost its page on the social-networking site to U.S.-based rival Merck & Co.

* Former Olympus Corp Chief Executive Michael Woodford said Friday he had a constructive discussion with the board that fired him the month before, but that there was no talk of reinstating him as CEO.

* SABMiller PLC expects to close its 9.9 billion Australian dollar (US$9.6 billion) takeover of Australian brewer Foster’s Group Ltd by the end of the year after Australia’s government on Friday approved the deal.

* Apple Inc is adding Sharp Corp as a maker of screens used in the next-generation iPad, people familiar with the situation said Thursday, as the U.S. consumer electronics company moves to diversify component suppliers for its products.

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