PRESS DIGEST - Wall Street Journal - Aug 22

Reuters

Aug 22 (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. - Pfizer Inc is nearing a deal to buy biotech company Medivation Inc in a move that would add one of the crown jewels of the multibillion-dollar market for cancer drugs to Pfizer's portfolio, people familiar with the matter said. http://on.wsj.com/2byG9G4 - Turkey's president blamed Islamic State for turning a youth into a human bomb at a crowded outdoor wedding party in southeast Turkey's largest city, killing at least 51 people in a weekend attack that underscored how the war in neighboring Syria is destabilizing the region. http://on.wsj.com/2bG3za6 - India's next central bank chief, Urjit Patel, spent most of the past three years quietly in the shadows of charismatic Reserve Bank of India Governor Raghuram Rajan, but when he spoke he did so with conviction. "We are in the midst of the age of competitive depreciation and of beggar-thy-neighbor monetary policy," said Patel, who usually sat next to Rajan at press conferences after policy decisions. http://on.wsj.com/2btNuW2 - Valeant Pharmaceuticals International Inc is expected to announce it has hired Paul Herendeen as its new chief financial officer, luring the executive away from animal-health giant Zoetis Inc, according to sources close to the companies. http://on.wsj.com/2butPoZ - President Barack Obama's troubled Pacific-region trade deal is threatening to become a foreign policy failure in Asia, where the U.S. loaded the accord with strategic significance as a counterweight to the rise of China. http://on.wsj.com/2boleoD - The European Central Bank's corporate-bond-buying program has stirred so much action in credit markets that some investment banks and companies are creating new debt especially for the central bank to buy. In two instances, the ECB has bought bonds directly from European companies through so-called private placements. http://on.wsj.com/2bvP3Fq - Volkswagen AG will resume negotiations Monday to resolve a dispute with parts suppliers that has led to reduced working hours for thousands of its employees across Germany. http://on.wsj.com/2bsxSQN - One of China's most popular 'selfie' app makers, Meitu , is preparing to raise up to $1 billion through a listing on the Hong Kong exchange, in a test of whether that market can compete with New York and mainland China for a wave of expected Chinese startup offerings. http://on.wsj.com/2bnbJG8 (Compiled by Shivam Srivastava in Bengaluru)