PRESS DIGEST- Wall Street Journal – Aug 11

Aug 11 (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.

– SoftBank Group Corp said it would sharply reduce its stake in Chinese e-commerce company Alibaba Group Holding Ltd.

– The Federal Communications Commission rescinded more than $2 billion in grants previously awarded to Elon Musk’s SpaceX and a small internet provider after the regulator ruled the companies weren’t likely to meet requirements for government funding to help expand broadband access.

– The Federal Trade Commission is expected to begin writing federal rules to expand online privacy protections as soon as Thursday.

– An Iranian national plotted to assassinate one of former President Donald Trump’s national-security advisers, John Bolton, the Department of Justice said, in what it described as a likely retaliation for the 2020 killing of a prominent Iranian general.

– United Airlines Holdings Inc has paid a $10 million deposit for 100 electric flying taxis, a sign that the airline is growing more confident in the nascent technology.

– Baby-formula startup ByHeart is seeking to register two additional facilities with regulators to increase its production as the U.S. continues to grapple with shortages. (Compiled by Bengaluru newsroom)

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