PRESS DIGEST -Wall Street Journal - October 24

Oct 24 (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.

- U.S. President Donald Trump said late Thursday that he is terminating trade negotiations with Canada, citing an Ontario government-sponsored television advertisement featuring Ronald Reagan's voice criticizing tariffs as the reason for the abrupt move.

- The U.S. Trade Representative's office plans to launch an investigation into China's compliance with the Phase One trade deal signed during President Trump's first term.

- Rivian RIVN.O is laying off about 4.5% of its workforce, impacting over 600 employees, as the electric-truck maker aims to preserve cash amid an anticipated decline in electric vehicle sales.

- Alaska Airlines ALK.N is restoring operations after a technology outage prompted a systemwide ground stop on Thursday evening, causing dozens of delays and cancellations.

- Applied Materials AMAT.O is reducing its global workforce by about 4%, effective immediately, as the semiconductor company adapts to automation, digitalization, and geographic shifts in workforce needs.

- Canada will cut tariff-free import quotas for U.S.-assembled vehicles from Stellantis STLAM.MI and General Motors GM.N by 50% and 24.2% respectively, in response to the automakers' decisions to scale back manufacturing in the country.