May 7, 2019 / 5:36 AM / a year ago

PRESS DIGEST - Wall Street Journal - May 7

May 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.

- Prospects for a speedy conclusion to the U.S.-China trade fight dimmed Monday after U.S. officials accused Beijing of reneging on its promises and vowed to implement President Trump's threat to raise tariffs quickly on Chinese imports.

- Hudson's Bay Co said it is pursuing strategic alternatives for Lord & Taylor, including a possible sale or merger of the department-store chain.

- Kraft Heinz Co said errors in its accounting go back several more years than previously known, widening the scope of the internal problems the beleaguered food company has to resolve while facing a federal securities probe and shareholder lawsuits.

- U.S. Treasury Secretary Steven Mnuchin rejected House Democrats' request for President Trump's tax returns, a move that was expected after he had contended for weeks that lawmakers were trying to expose details of the president's finances rather than conducting legitimate legislative oversight.

- Vince McMahon's reboot of the XFL has struck television deals with Fox Corp and Walt Disney Co and will make its debut one week after next year's Super Bowl, the companies said Monday.

- Alphabet Inc's Google is set to launch new tools to limit the use of tracking cookies, a move that could strengthen the search giant's advertising dominance and deal a blow to other digital-marketing companies, according to people familiar with the matter.

Compiled by Bengaluru newsroom

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