Company News

PRESS DIGEST- Wall Street Journal - Sept. 30

Sept 30 (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.

- Alphabet Inc's Google draws congressional antitrust scrutiny as it plans to use a new internet protocol due to concerns that it could give the company a competitive advantage by making it harder for others to access consumer data.

- Fashion retailer Forever 21 Inc filed for bankruptcy protection on Sunday and said it planned to close hundreds of stores, the latest casualty of shifting shopping habits.

- Miner Rio Tinto Plc scrapped plans for an initial public offering of its Canadian iron-ore unit, following a year-long effort to unload the business.

- GlaxoSmithKline Plc reported positive results from a study of a cancer drug in a clinical trial that a senior figure in the company said justified the decision to buy cancer specialist Tesaro for $4.16 billion.

- Food52, a digital bazaar that sells upscale home goods, said it sold a majority stake to venture firm TCG for $83 million.

Compiled by Bengaluru newsroom