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PRESS DIGEST- Wall Street Journal - Aug 26

Published 26/08/2015, 02:59 pm
© Reuters.  PRESS DIGEST- Wall Street Journal - Aug 26
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Aug 26 (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.

- The late-day selloff shattered the veneer of stability that had settled over global markets after China's central bank moved to stanch the stock-market rout. (http://on.wsj.com/1LzAECZ)

- Global central bankers are preparing to converge this week in Jackson Hole, Wyoming, with a new economic mess on their hands. This time, they confront a big disparity between the world's two largest economies, the United States and China. (http://on.wsj.com/1LzAL1B)

- A battle is brewing among tech giants over the future of Wi-Fi, the ubiquitous and unregulated wireless connections at the core of the mobile internet. Verizon Communications Inc (NYSE:VZ) VZ.N and T-Mobile US Inc TMUS.N are preparing to broadcast cellular signals over some of the same free airwaves currently used by Wi-Fi networks. The wireless carriers plan to begin rolling out the technology next year. (http://on.wsj.com/1EVb2c2)

- Oshkosh Corp OSK.N on Tuesday won a $6.75 billion contract to build almost 17,000 new light trucks to replace aging Humvees for the U.S. Army and Marine Corps, cementing the future of its defense business. (http://on.wsj.com/1EVb43R)

- On Wednesday, a federal judge will begin weighing whether Boeing (NYSE:BA) Co BA.N mishandled its 401(k) plan by offering imprudent investment options and allowing excessive fees to get passed on to employees. The class-action suit, filed on behalf of 190,000 Boeing employees and retirees, has been in court for almost a decade. (http://on.wsj.com/1EVb9Es)

- Over the past decade, China has accumulated more steel than any other economy in the world. And because steel can be endlessly recycled, the country's steelmakers are likely to turn increasingly to scrap instead of the iron ore mined by the likes of BHP Billiton (LONDON:BLT) Ltd BHP.AX , Rio Tinto PLC RIO.L and Anglo American PLC AAL.L . (http://on.wsj.com/1EVbnvo)

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