February 16, 2017 / 7:10 AM / 9 months ago

PRESS DIGEST - Wall Street Journal - Feb 16

Feb 16 (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.

- Snap Inc set a valuation for itself between $19.5 billion and $22.2 billion. The valuation range is near the low end of the $20 billion to $25 billion range Snapchat's parent company had earlier targeted. on.wsj.com/2lNFhTi

- Digital music company Spotify USA is expanding and relocating its Manhattan office from Chelsea to the World Trade Center, expecting to add 1,000 jobs. Spotify will set up its U.S. headquarters in about 400,000 square feet of space in 4 World Trade Center. on.wsj.com/2lNL6A6

- In a legal case involving one of the most important new gene-editing tools, U.S. patent authorities said patents issued to the Broad Institute giving it the rights to use the technology to edit genes in humans can stand. The ruling is the first outcome in a legal battle pitting the Broad Institute against the University of California, Berkeley; the University of Vienna and the scientist Emmanuelle Charpentier over a technology scientists hope will allow for the altering of genes to treat medical conditions such as hemophilia and cystic fibrosis. on.wsj.com/2lNyqtg

- Restaurants, bakeries and other businesses in the United States will close Thursday as thousands of foreign-born workers participate in a one-day strike to protest President Donald Trump's immigration policies. Dubbed a "Day Without Immigrants," the nationwide effort orchestrated by immigrant-advocacy groups calls on foreign-born workers to stay home, avoid shopping and shutter their businesses to demonstrate their impact on the economy. on.wsj.com/2lNJmHj

- The Commerce Department on Wednesday reported stronger-than-expected growth in retail sales in January, and the Fed reported factory output increased last month. The Labor Department said a closely watched gauge of U.S. inflation rose to its highest annual level in nearly five years, the latest sign that years of sluggish price growth could be coming to an end. on.wsj.com/2lNIxyk (Compiled by Sangameswaran S in Bengaluru)

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