PRESS DIGEST - Wall Street Journal - May 12

May 12 (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 battery giant CATL 300750.SZ plans to raise up to $4 billion in a Hong Kong IPO, the city's largest this year, after capturing over a third of the global battery market in 2024.

- U.S. Treasury Secretary Scott Bessent hailed recent U.S.-China trade talks in Geneva as "productive," with both sides agreeing to launch a formal negotiation process, signaling potential tariff reductions and a thaw in strained economic relations.

- The Trump administration is in talks with Qatar about accepting a luxury plane for his use as president and potentially beyond, raising legal and ethical concerns as the gift would violate the U.S. Constitution's emoluments clause.

- Ukrainian President Volodymyr Zelensky has agreed to meet Russia's Vladimir Putin for peace talks in Istanbul this week, following pressure from Trump, who backed Russia's proposal and urged Ukraine to engage.

- House Republicans propose moderate Medicaid cuts with work requirements, aiming to pass the bill by Memorial Day as part of Trump's broader tax and spending plan.

- United UAL.O and American Airlines AAL.O are battling for dominance at Chicago's O'Hare, with American suing over gate allocations and both expanding flights and amenities to win travelers.