PRESS DIGEST- Wall Street Journal - May 18
May 18 (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.
- Alibaba Group Holding Ltd co-founder Jack Ma is stepping down from the board of technology investment company SoftBank Group Corp, the latest confidant of SoftBank Chief Executive Masayoshi Son to depart. https://on.wsj.com/2TgKimG
- U.S. lawmakers and government officials are preparing to make significant changes to the Paycheck Protection Program, amid cooling demand for government-backed loans and criticism from business owners who say they can't tap the funds. https://on.wsj.com/36aK5Xy
- SoftBank Group Corp is in talks to sell a significant portion of its T-Mobile US Inc stake to controlling shareholder Deutsche Telekom AG as the Japanese technology conglomerate scrambles to raise funds. https://on.wsj.com/3dWsoO4
- U.S. Federal Reserve Chairman Jerome Powell said in an interview broadcast on Sunday that the U.S. economy could take more than a year to recover from the coronavirus-induced shock, adding that it will be hard for public to be 'fully confident' without a coronavirus vaccine. https://on.wsj.com/2ycjJHT
(Compiled by Bengaluru newsroom)
