PRESS DIGEST - Wall Street Journal - Aug 6

Aug 6 (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.

* Activist investor William Ackman has built a $5.5 billion stake in Mondelez International Inc and will argue the maker of Oreo cookies and Ritz crackers needs to cut costs and grow revenue, or sell to a rival like Kraft Heinz Co. (http://on.wsj.com/1P7qt6X)

* Malaysian Prime Minister Najib Razak confirmed that the aircraft debris found on Réunion Island came from Malaysia Airlines Flight 370, which disappeared over a year ago. The development marked the first concrete evidence of the missing plane but left unanswered why it crashed. (http://on.wsj.com/1SQGlAq)

* Companies must start disclosing the pay gap between their top boss and rank-and-file employees under one of the most significant post-crisis rules addressing executive pay, launching a period of uncertainty for companies over whether the disclosure will rile up shareholders, employees and the broader public. The Securities and Exchange Commission on Wednesday voted 3-2 to approve the measure, with the panel's two Republican members opposing it. (http://on.wsj.com/1hkfI6b)

* Car makers recalled more vehicles in the U.S. through the end of July than during any other similar time frame except 2014, furthering a significant shift for manufacturers facing a crackdown on safety lapses. (http://on.wsj.com/1hkraP5)

* The hotel industry is urging the U.S. government to reject the proposed merger between online travel agents Expedia Inc and Orbitz Worldwide Inc, arguing the combined company would control the online booking market and be able to impose higher costs on the industry. (http://on.wsj.com/1SRjgOc)

* Planet Fitness Inc priced its initial public offering at $16 a share, the high end of expectations, according to a person familiar with the offering. The deal raised $216 million by selling 13.5 million shares, according to the person. The budget fitness chain, which is known for its $10 monthly memberships, and certain selling stockholders were planning to sell shares at $14 to $16 apiece, according to regulatory filings. (http://on.wsj.com/1MQLKCK)

(Compiled by Rama Venkat Raman in Bengaluru)