PRESS DIGEST - Wall Street Journal - Aug 24
Aug 24 (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.
- Two former Goldman Sachs Group traders snapped up beaten-down mortgage bonds, wagering that unusual wording in their contracts would net them millions when a bank settlement paid out. http://on.wsj.com/2bdZ62x
- The U.S. is considering providing military support for hundreds of Turkish-backed rebels massing at the border with Syria for a major offensive meant to sever Islamic State supply routes. http://on.wsj.com/2bfbrxZ
- A magnitude 6.2 earthquake struck central Italy early Wednesday, levelling buildings in several towns as residents slept. The mayor of hard-hit Amatrice said "The town isn't here anymore." http://on.wsj.com/2bAGrgW
- Consumption of soda and other sugary drinks fell by more than a fifth in low-income neighborhoods of Berkeley after the California city became the first in the U.S. to introduce a special tax last year, according to a study published Tuesday. http://on.wsj.com/2bdoAgC
- Best Buy Co posted results for the latest quarter that reversed a sales slump, easing fears about its ability to lure shoppers amid a long battle with Amazon.com Inc and other online rivals. http://on.wsj.com/2bMfbsT
- As Spotify AB gears up for a potential initial public offering next year, the music-streaming service is missing one key component in its pitch to investors: rights to play the music in years to come. http://on.wsj.com/2bLUkoL
- Gillette, the largest seller of shavers, filed a lawsuit against Edgewell Personal Care Co, maker of Schick brand razors and Edge shave gels, alleging patent infringement and saying its closest competitor made misleading claims against the Procter & Gamble Co unit. http://on.wsj.com/2bcMJUo
- Anbang Insurance Group plans an initial public offering of its life-insurance unit, a move that could increase disclosure at the opaque Chinese insurer that made an aborted $14 billion bid for Starwood Hotels & Resorts Worldwide Inc this year. http://on.wsj.com/2bEO1Gc
- Postal Savings Bank of China, the world's biggest initial public offering planned this year at more than $7 billion, is setting sail with a $2 billion backing from another Chinese state firm. http://on.wsj.com/2buIAZY
(Compiled by Shivam Srivastava in Bengaluru)
