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PRESS DIGEST - Wall Street Journal - May 24 (CVX, GLEN, BG, AAPL, TGT)
May 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.
- Moody's Investors Service cut China's sovereign credit rating for the first time in nearly three decades, citing expectations that the country's financial strength will deteriorate in coming years as debt keeps rising and the economy slows. http://on.wsj.com/2rflRJQ
- A contentious tax dispute between Australia and Chevron Corp could cost the company billions of dollars and open a new front in global efforts to crack down on the aggressive tax strategies used by many multinational corporations. http://on.wsj.com/2qQCE4Q
- Glencore Plc has approached grain trader Bunge Ltd about combining, a deal that would give the Swiss miner a major presence in the U.S. agriculture market at a time when low crop prices have forced farming giants to scale up through mergers. http://on.wsj.com/2q7SZTI
- Apple Inc and Nokia settled dueling lawsuits over what Apple should pay for intellectual property used in its iPhone, a surprisingly quick end to what analysts had said could have been years of litigation. http://on.wsj.com/2qeDS6P
- The U.S. Justice Department sued Fiat Chrysler Automobiles and alleged it used illegal software to cheat on government emissions tests, escalating a battle over the company's diesel engines. http://on.wsj.com/2qUcYmc
- Target Corp on Tuesday agreed to pay $18.5 million to resolve an investigation by state prosecutors into its massive 2013 hack, a deal that represents the largest multistate data breach settlement in history. http://on.wsj.com/2qUoFt5
(Compiled by Bengaluru newsroom)
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