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 U.S. Department of Justice closed a criminal probe into Abbott Laboratories ABT.N over its handling of a baby formula plant linked to potentially deadly bacteria, opting instead for civil penalties.

- In its annual report on the global economic outlook, the Switzerland-based Bank for International Settlements said the five largest "hyperscalers" are on course to devote more than $1 trillion to AI-related capital expenditure in 2025 and 2026.

- Mynt, which operates the mobile financial services platform GCash, has submitted its application to list on the main board of the Philippine Stock Exchange and is planning to raise up to $1.5 billion, with the listing expected in the fourth quarter.

- The Chinese commerce ministry said it added 20 Japanese entities, including some defense contractors, to an export control list that prohibits Chinese firms from selling dual-use products to those companies.

- The U.S. and Iran have agreed to end days of back-and-forth fighting around the Strait of Hormuz and resume peace talks, said officials from the U.S. and other countries involved in the negotiations.