PRESS DIGEST - Wall Street Journal - May 8

May 8 (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.

* A federal appeals court ruled a National Security Agency program that collects phone records on millions of Americans is illegal, intensifying a fight in Congress over extending the soon-to-expire surveillance effort. (http://on.wsj.com/1dPF7mv)

* Government-debt markets were rattled once again on Thursday, as German bonds staged a sudden and sharp selloff before recovering, unnerving investors who are growing increasingly worried about rising volatility. (http://on.wsj.com/1RiKiuA)

* Mars Inc, maker of M&M's and Snickers, is throwing its support behind a proposal by U.S. regulators to include measurements of added sugar in the mandated Nutrition Facts labels for food, a move that bucks broad opposition to the proposal by big food companies. (http://on.wsj.com/1zQ0e1S)

* Music-streaming company Spotify AB is laying plans to enter the hotly competitive web-video business, according to people familiar with the matter, preparing to take on powerhouses like YouTube and Facebook Inc in a strategy that may put growth ahead of profit. (http://on.wsj.com/1zFOsXx)

* Whole Foods Market Inc is gearing up to start a sister chain of small-scale stores that offer organic and natural foods at lower prices than its namesake outlets, a bold gambit to juice the grocery chain's sales growth. (http://on.wsj.com/1F2BFin)

* UBS AG, which stumbled badly the last time it pushed to expand in the lucrative U.S. investment-banking market, is again seeking to build its business here-though this time with more modest ambitions. (http://on.wsj.com/1ctAcHi)

(Compiled by Avik Das in Bengaluru)