August 7, 2014 / 4:26 AM / in 3 years

PRESS DIGEST - Wall Street Journal - Aug 7

Aug 7 (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.

* Bank of America Corp and the Justice Department are close to a deal in which the bank will pay between $16 billion and $17 billion to resolve allegations of mortgage-related misconduct in the run-up to the financial crisis. (on.wsj.com/1vbZWze)

* The dust appeared to be settling on 21st Century Fox's brief pursuit of Time Warner Inc, as both entertainment conglomerates pointed to strong quarterly earnings and declared themselves well-positioned on their own. (on.wsj.com/1pY3f4J)

* President Barack Obama is focused on putting in place a global security structure that will last decades, but his handling of crises in the Mideast and Ukraine has driven support for his foreign policy to new lows. (on.wsj.com/1syF2qw)

* Almost 90 percent of the United States' 30 million uninsured won't pay a penalty under the Affordable Care Act in 2016 because of a growing batch of exemptions to the health-coverage requirement. (on.wsj.com/1kJvpEG)

* Google Inc wants to reward websites that are more secure. The world's most popular search engine said it is now giving bonus points in its ranking algorithm to Web pages that are encrypted. Google hopes the move will prod website developers to adopt technology that protects against hackers breaking into their websites and stealing users' information. (on.wsj.com/1syVYND)

* Talk of cracking down on U.S. corporations that move offshore is making some other companies nervous - notably, foreign-owned concerns, which are warning of cuts to their U.S. employment or investment if they are caught in the cross hairs. (on.wsj.com/1pDhFtJ)

* The failure of the biggest U.S. banks to convince regulators they can go bust without bringing down the financial system is likely to further strain an already tense relationship between Wall Street and Washington. (on.wsj.com/1pY541O)

* Sprint Corp's new boss is a 6-foot 6-inch Bolivian billionaire whose efforts could determine whether the wireless firm's decision to end a $32-billion plan to buy T-Mobile US Inc was a savvy, pragmatic move or a disaster. (on.wsj.com/X36WQ1)

* Without a Sprint Corp deal, T-Mobile US Inc has to weigh a possible merger with another suitor against going it alone in a market that is about to get more competitive and more expensive. (on.wsj.com/XFK49c)

* The number of people to have died in the worst Ebola outbreak in history has risen to at least 932, the World Health Organization said on Wednesday, as overworked hospital staff struggled to quell the epidemic and in many cases became its front-line victims. (on.wsj.com/1ko5ty3)

* Walgreen Co faced investor backlash after deciding against relocating its corporate headquarters overseas as part of its acquisition of the rest of European drugstore chain Alliance Boots GmbH. (on.wsj.com/1kJERb9)

* Pfizer Inc has reached a $35 million settlement with 41 states and the District of Columbia over alleged improper marketing of its drug Rapamune, New York Attorney General Eric Schneiderman said on Wednesday. (on.wsj.com/1oDznxI)

* A European spacecraft called Rosetta has become the first in history to rendezvous with and orbit a comet, a milestone in space exploration that could reveal valuable clues about how the solar system was created and how it evolved. (on.wsj.com/1syK6v7)

* As fighting between Israel and Hamas raged over the past week, Israeli tech companies had one of their best runs ever. Investors and buyers didn't stay away either, with one acquisition announced and four initial public offerings. Still, quite a few startups in the country's busy tech sector had staff called away on mandatory military reserve duty, as did some of their suppliers and business partners. (on.wsj.com/XFluWb)

* A collection of more than one billion website logins allegedly stockpiled by a Russian crime gang may not pose as much of a new security threat as a computer-security company suggested, other security researchers and cybercrime experts said. (on.wsj.com/1up6t5x) (Compiled by Rama Venkat Raman in Bangalore; Editing by Biju Dwarakanath)

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