May 23, 2017 / 5:21 AM / 6 months ago

PRESS DIGEST - Wall Street Journal - May 23

May 23 (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.

- China Life Insurance Group is buying a 95 percent stake in 48 commercial properties scattered throughout the U.S. in a deal that values the portfolio at $950 million and highlights the growing appetite among foreign investors for real estate in markets they mostly have ignored until now. on.wsj.com/2qJPbXx

- U.S. President Donald Trump on Tuesday will propose a plan he says will balance the federal budget in a decade on the strength of substantially faster economic growth and cuts to taxes and government safety-net programs. on.wsj.com/2qbN4cl

- JD.com Inc, China's second-largest e-commerce firm, said on Monday it is developing heavy-duty drones capable of delivering payloads weighing one ton or more, which it plans to deploy in Shaanxi. on.wsj.com/2qOeoOS

- Hong Kong's flagship carrier Cathay Pacific Airways Ltd said it would lay off about 600 people as it grapples with tough competition and bad bets on oil prices, despite robust travel demand in the region. on.wsj.com/2rNxJ1X

- The retirement-savings regulation known as the fiduciary rule will take effect June 9 without further delay, U.S. Labor Secretary Alexander Acosta said on Monday. on.wsj.com/2q4Y4fw

- Former managers of Sunrun Inc say they were told by their superiors to hold off on internally reporting hundreds of customers who canceled their contracts during a roughly five-month period in the middle of 2015. on.wsj.com/2qGGNrJ (Compiled by Bengaluru newsroom)

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