PRESS DIGEST - Wall Street Journal - Aug 6

Wed Aug 6, 2014 2:04am EDT

Aug 6 (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.

* 21st Century Fox has withdrawn its proposal to acquire Time Warner, saying the owner of HBO has "refused to engage with us." (on.wsj.com/1v8re9L)

* Sprint Corp decided to end its pursuit of T-Mobile US Inc in the face of stiff opposition from regulators and to replace Chief Executive Dan Hesse. (on.wsj.com/1nqMxti)

* Apple Inc and Samsung Electronics Co Ltd are calling a partial truce in their smartphone war. The two technology giants agreed to dismiss all patent disputes between them in courts outside the United States, marking an easing of tensions. (on.wsj.com/1odLjqj)

* Private-equity firm TPG, after a few disastrous deals, is pursuing a revival based on smaller investments and a new fund, while laying the groundwork for a possible IPO. (on.wsj.com/1nqMOMY)

* An Afghan soldier killed a two-star U.S. Army general when he opened fire on a group of Western military officers Tuesday, claiming the highest-ranking American casualty in more than a decade of war. (on.wsj.com/1opPbzI)

* In a sweeping rebuke to Wall Street, U.S. regulators said 11 of the nation's biggest banks haven't demonstrated they can collapse without causing damaging economic repercussions and ordered them to try again. (on.wsj.com/1oAzFFN)

* Overseas takeover deals designed to lower corporate taxes took a double-punch on Tuesday when Walgreen Co ruled out the tactic for a foreign merger and the U.S. Treasury Department said it was looking for ways to deter the strategy. (on.wsj.com/1v9aNtJ)

* BATS Global Markets Inc is in advanced talks with regulators to settle allegations that it gave unfair advantages to high-speed traders. (on.wsj.com/1lywRED)

* The TV-and-publishing conglomerate is an endangered species. Gannett Co Inc joins media companies that have decided their broadcasting businesses should split from their newspapers or magazines. (on.wsj.com/1oAzV7v)

* U.S. and African leaders on Tuesday unveiled $14 billion in commercial deals in Washington, part of a campaign to improve on a trade relationship in which the two parties still do little business together. (on.wsj.com/1nqNpy6)

* T-Mobile US Inc denied Iliad SA's request for access to the U.S. telecom's books after determining that the French company's proposed $15 billion bid wasn't strong enough, people familiar with the matter said. (on.wsj.com/1nqNDVY)

* Spain's Telefonica SA is offering $8.99 billion in cash and shares for Vivendi SA's Brazilian unit GVT, in a bid to create Brazil's largest telecom operator. (on.wsj.com/1ATnZ6j)

* A German court agreed to drop a criminal case against Formula One magnate Bernie Ecclestone for alleged bribery, pending payment of a $100 million fine. (on.wsj.com/1ukXan7)

* China's top economic planning agency said on Wednesday it will punish Audi AG and Chrysler after an investigation found the two luxury car makers had pursued monopoly pratices. (on.wsj.com/1ob0vWg)

* Australia's Orica Ltd said on Wednesday it wants to sell or list its chemicals business making everything from dyes to fertilizers, which analysts estimate could be worth up to 1 billion Australian dollars($930.40 million). (on.wsj.com/1qW5tbt) (1 US dollar = 1.0748 Australian dollar) (Compiled by Rama Venkat Raman in Bangalore; Editing by Biju Dwarakanath)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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