TOP STORIES 
 
HAGEL RESIGNS AS DEFENSE SECRETARY

Defense Secretary Chuck Hagel will step down from his position, President Barack Obama announced, as the administration grapples with multiple military and foreign-policy challenges.

 
UNITED TECHNOLOGIES CEO ABRUPTLY STEPS DOWN

United Technologies Chief Executive Louis Chenevert abruptly stepped down, startling people inside and outside the industrial conglomerate he led for six years.

 
U.S. STOCKS PARE RECENT GAINS

Stocks pared their gains in midday trading, as investors continued to welcome loosening monetary policies around the world but looked ahead to a busy week of economic data. The Dow industrials were near flat in recent trading.

 
TEXAS ACCIDENT LINKED TO FAULTY GM IGNITION SWITCH

A Texas woman who pleaded guilty to criminal negligent homicide had her conviction overturned hours after General Motors confirmed the vehicle she was driving was among those recalled for a faulty ignition switch.

 
IRAN NUCLEAR TALKS EXTENDED

Iran and six world powers missed a second deadline to resolve a decade-long dispute over Tehran's nuclear program, extending talks until the end of June in a move that will buy diplomats more time but that could also threaten the diplomacy.

 
FINRA FINES CITIGROUP $15 MILLION

The Financial Industry Regulatory Authority fined Citigroup $15 million for failing to prevent its equity-research staff from committing communications breaches related to nonpublic information.

 
WAL-MART ADDS FORMER AMERICAN AIRLINES CEO HORTON TO BOARD

Wal-Mart has added Tom Horton, the former chief executive of American Airlines, to the retailer's board, bringing its size to 16 directors.

 
BIOMARIN TO PAY UP TO $840 MILLION FOR PROSENSA

BioMarin Pharmaceutical, a drug maker focused on rare diseases, said it has agreed to pay up to $840 million to acquire Prosensa Holding, a Dutch biopharmaceutical company with no marketed products. Prosensa shares jump 61%; BioMarin rise 1%.

 
HEALTHSOUTH TO ACQUIRE EHHI HOLDINGS

HealthSouth agreed to acquire privately held EHHI Holdings for about $750 million, a move that would expand the inpatient-hospital operator into the home-health market.

 
OIL PRICES SLIP AS OPEC MEETING LOOMS

Oil prices fell on expectations that the Organization of the Petroleum Exporting Countries would not cut production enough to reduce a global glut of oil.

 
MERCK OBTAINS RIGHTS TO EXPERIMENTAL EBOLA VACCINE

Merck has obtained the rights to an experimental Ebola vaccine developed by NewLink Genetics, another sign of the scramble to find new ways to combat the deadly viral outbreak centered in West Africa.

 
 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
The Wall Street Journal 
CHINA CUT IN RATES MAY BE SHORT ON IMPACT

China's move to slash lending rates to help slowing growth may lack punch, as Chinese banks likely will remain reluctant to lower loan rates for fears of hurting their profits.

 
The Wall Street Journal 
COMMERCIAL REAL ESTATE PROSPECTS APPEAR BRIGHT

Prospects for the U.S. commercial real estate appear promising for next year, with broad rent increases as well as tighter vacancy rates in most major sectors, according to the National Association of Realtors.