Reuters: Bankruptcy News: PRESS DIGEST - Wall Street Journal - Nov 19

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PRESS DIGEST - Wall Street Journal - Nov 19 Nov 19th 2012, 07:00 Mon Nov 19, 2012 2:00am EST Nov 19 (Reuters) - The following are the top stories in the Wall Street Journal on Monday. Reuters has not verified these stories and does not vouch for their accuracy. * Citigroup Inc is on track to eliminate 300 sales-and-trading jobs globally in 2012, according to people briefed on the process. The cuts follow a 5 percent reduction in Citigroup's securities-and-banking unit last year, a move that culled 900 jobs. The sales-and-trading business is part of the securities unit, which employs roughly 17,000 people. () * U.S. companies are scaling back investment plans at the fastest pace since the recession, signalling more trouble for the economic recovery. () * The trustee unwinding Lehman Brothers Inc reached an agreement with Citigroup that ends a long-running legal fight over more than $1 billion that Lehman deposited at the bank the week it filed for bankruptcy protection. () * Surf and skate apparel retailer Billabong International Ltd said on Monday the head of its Americas division, Paul Naude, was considering a buyout of the company. () * Cisco Systems Inc said on Sunday that it will acquire closely held Meraki Inc in a cash deal valued at about $1.2 billion. ()

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