May 18, 2020 / 5:44 AM / 18 days ago

PRESS DIGEST- Wall Street Journal - May 18

May 18 (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.

- Alibaba Group Holding Ltd co-founder Jack Ma is stepping down from the board of technology investment company SoftBank Group Corp, the latest confidant of SoftBank Chief Executive Masayoshi Son to depart.

- U.S. lawmakers and government officials are preparing to make significant changes to the Paycheck Protection Program, amid cooling demand for government-backed loans and criticism from business owners who say they can't tap the funds.

- SoftBank Group Corp is in talks to sell a significant portion of its T-Mobile US Inc stake to controlling shareholder Deutsche Telekom AG as the Japanese technology conglomerate scrambles to raise funds.

- U.S. Federal Reserve Chairman Jerome Powell said in an interview broadcast on Sunday that the U.S. economy could take more than a year to recover from the coronavirus-induced shock, adding that it will be hard for public to be 'fully confident' without a coronavirus vaccine.

Compiled by Bengaluru newsroom

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