PRESS DIGEST- Wall Street Journal – June 28

June 28 (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.

– Chinese President Xi Jinping plans to present U.S. President Trump with a set of terms he wants the U.S. to meet before Beijing is ready to settle a market-rattling trade confrontation, raising questions of whether the two leaders will agree to relaunch talks.

– Boeing Co’s troubled 737 MAX fleet is expected to stay grounded until late this year as a result of the latest flight-control problem flagged by U.S. air-safety regulators, according to people briefed on the issue.

– Apple Inc said design chief Jony Ive will leave the company later this year to form his own independent design company, marking the end of an era at the iPhone maker as it shifts from an emphasis on product development to services.

– Ford Motor Co laid out plans to close factories in Europe and cut 12,000 jobs, or more than 20% of its European workforce, aiming to return to a profit in the region and focus on technologies that are reshaping the auto industry.

– The Federal Reserve said the biggest U.S. banks are healthy enough to start whittling down their capital stockpiles, clearing them to make payouts to investors that exceed their expected profits.

– Twitter Inc said it would begin flagging tweets by government officials and political figures world-wide who violate its rules, a response to criticism of its oversight that could set the company up for new controversy.

– North Carolina’s insurance department on Thursday took control of a group of troubled life insurers owned by indicted entrepreneur Greg Lindberg. (Compiled by Bengaluru newsroom)

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