PRESS DIGEST- Wall Street Journal – June 20

June 20 (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.

– Chinese e-commerce giant Alibaba Group Holding is reshuffling its top executives, with current Vice Chairman Joseph Tsai taking over as chairman from Daniel Zhang while the head of its domestic e-commerce unit was named chief executive.

– Berkeley, California-based KoBold Metals, which explores for metals such as copper, lithium and cobalt using artificial intelligence, is raising around $200 million in a fundraising round values the company at more than $1 billion.

– China and the U.S. took steps to halt the downward spiral in relations, with Secretary of State Antony Blinken meeting Chinese leader Xi Jinping.

– Silicon Valley Bank’s customers in Asia whose deposits were recently seized by the U.S. Federal Deposit Insurance Corp (FDIC) are under pressure to repay loans to First Citizens Bank.

– U.S. and Canadian ships and planes searched on Monday for a submarine that went missing more than a day earlier off the coast of southeastern Canada while taking tourists to explore the wreckage of the Titanic.

– China and Cuba are negotiating to establish a new joint military training facility on the island, sparking alarm in the U.S. that it could lead to the stationing of Chinese troops and other security operations just 100 miles off Florida’s coast.

(Compiled by Bengaluru newsroom)