PRESS DIGEST

May 19, 2024

Aug 30 (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.

- Warner Bros. Discovery is in advanced talks to name Mark Thompson, a former top executive of the New York Times and the BBC, as CNN's new leader, according to people familiar with the matter.

- Baby-formula manufacturers would be required to notify regulators about contamination in their products in a wider range of circumstances, under bipartisan legislation introduced Tuesday.

- A federal appeals court ruled Tuesday that the Securities and Exchange Commission must reconsider the crypto asset manager Grayscale Investments' application to launch the first bitcoin exchange-traded fund, the latest setback for SEC Chair Gary Gensler’s efforts to regulate the upstart industry.

- Goldman Sachs agreed to pay about $5.5 million to settle allegations it failed to record and retain mobile device calls made by its traders at the onset of the Covid-19 pandemic, in violation of record-keeping rules and a previous settlement agreement.

- U.S. Steel said it has entered into confidentiality agreements with “numerous third parties” and is starting to share due diligence information as it reviews bids for the company or parts of it.

- Bankrupt crypto lender Genesis Global and a major creditor group have reached a new agreement with its parent company and largest borrower, Digital Currency Group, paving a way for resolving billions of dollars in cryptocurrency claims in chapter 11. (Compiled by Bengaluru newsroom)

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