PRESS DIGEST- Wall Street Journal - May 31

May 31 (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 Justice Department said it would drop some of the criminal charges against FTX founder Sam Bankman-Fried if the Bahamas says they violate the terms of his extradition to the U.S.

- Dina Powell McCormick, one of the most senior women on Wall Street and a former U.S. government official, is leaving Goldman Sachs Group to join an investment and advisory firm run by former partners at the Wall Street giant.

- The United Arab Emirates has pressed the U.S. to make more muscular moves to deter Iran after the Islamic Republic's military seized two oil tankers in the Gulf of Oman in recent weeks, U.S. and Gulf officials said.

- A federal judge ruled that relatives of people who died in a 2019 Boeing 737 MAX crash can seek compensation for the victims' pain and suffering before the plane slammed into the ground in Ethiopia.

- A Chinese jet fighter flew within 400 feet of the nose of a U.S. reconnaissance aircraft last week, the U.S. military said Tuesday, in what it described as an "unnecessarily aggressive maneuver."

- Goldman Sachs Group is preparing for more layoffs in the latest sign of continued fallout from a deal-making drought on Wall Street.

(Compiled by Bengaluru newsroom)