PRESS DIGEST - Wall Street Journal - June 7

June 7 (Reuters) - The following were the top stories in The Wall Street Journal on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

* Researchers reported notable advances in the war on cancer over the weekend, including treatments for lung, ovarian and skin cancers, but they cautioned that the disease continues to throw up daunting obstacles of cost and complexity.

* Supermarket companies including Supervalu (SVU.N), Safeway (SWY.N) and Ahold (AHLN.AS) have turned to Saint Consulting Group to try to derail or delay proposed new Wal-Marts.

* India's Reliance Communications Ltd (RLCM.BO) and U.S. telecom giant AT&T Inc (T.N) have sounded out each other's interest about a potential transaction in which AT&T would take a significant minority stake in the Indian cellphone company, according to people familiar with the matter.

* For commercial insurers, the Gulf of Mexico oil spill and the volcanic-ash disaster may prove relatively light in claims costs but may give the firms justification to raise premiums for some types of coverage.

* Pritzker family scion John Pritzker is getting back into the hotel industry by buying a majority stake in an operator of boutique hotels in California and establishing a $150 million fund to buy additional small hotels.

* Space entrepreneur Elon Musk made history last week with the successful launch of his Falcon 9 rocket, but he has acknowledged that he worried a few years ago that his project would have to shut down for lack of cash.

* Grifols SA (GRLS.MC) of Spain plans to buy Talecris Biotherapeutics Holdings Corp TLCR.O, a U.S. maker of plasma medicines part-owned by Cerberus Capital Management LP, for more than $3 billion, according to people familiar with the matter.

* Yahoo Inc (YHOO.O) will soon roll out new ways to view content from Facebook Inc across its websites, according to people briefed on the matter, as it aims to prevent Yahoo users from defecting to the social network.

* A string of big-name companies that have filed to go public in recent weeks has obscured a less-encouraging trend in the U.S.: The pace of companies registering for IPOs fell in May and more deals were shelved than at any point this year.

* The world's leading economic powers edged toward agreement on new rules to ensure that major banks keep enough money in reserve to insulate them against future crises.