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PRESS DIGEST- Wall Street Journal - July 18
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PRESS DIGEST- Wall Street Journal - July 18
Jul 18, 2025 12:50 AM

July 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.

- The U.S. Federal Trade Commission reopened and set aside

prior consent orders for Exxon Mobil's ( XOM ) acquisition of

Pioneer Natural Resources and Chevron's ( CVX ) purchase of Hess

, citing a lack of evidence for antitrust violations in

the initial complaints.

- China is threatening to block a sale of over 40 ports,

including two at the Panama Canal, owned by Hong Kong-based CK

Hutchison ( CKHUF ) to BlackRock ( BLK ) and MSC unless Chinese

shipping giant Cosco secures a stake.

- Union Pacific ( UNP ) is in early-stage talks to acquire

Norfolk Southern ( NSC ), aiming to create North America's

largest railroad, though no deal is certain.

- CBS will end "The Late Show With Stephen Colbert" and its

entire late-night franchise in May 2026 when host Stephen

Colbert's contract expires.

- The U.S. Congress approved a $9 billion cut to federal

spending on foreign aid and public broadcasting, passing

President Trump's rescissions package in a 216-213 House vote.

- U.S. President Donald Trump ordered Attorney General

Pam Bondi to seek the release of grand jury testimony in the

Jeffrey Epstein sex-trafficking case, following a Wall Street

Journal report about a 2003 birthday letter bearing Trump's

name.

(Compiled by Bengaluru newsroom)

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