December 8, 2016 / 5:28 AM / 9 months ago

PRESS DIGEST- New York Times business news - Dec 8

Dec 8 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.

- The Russian government announced Wednesday that it will sell nearly 20 percent of its state oil company, Rosneft , to Swiss commodity trading firm Glencore and the sovereign wealth fund of Qatar. nyti.ms/2h8jqDt

- City Council in Portland in Oregon voted on Wednesday to impose a surtax on companies whose chief executives earn more than 100 times the median pay of their rank-and-file workers. The surcharge, which Portland officials said is the first in the nation linked to chief executives' pay, would be added to the city's business tax for those companies that exceed the pay threshold. nyti.ms/2h8kS90

- The European Central Bank is expected to say on Thursday that it will buy large quantities of government bonds and other assets for longer than initially planned, an attempt to protect the eurozone economy from an increasingly unpredictable political landscape. nyti.ms/2h8brWU

- China's highest court ruled largely in favor of former basketball star Michael Jordan on Thursday in a closely watched trademark case. The decision held that Jordan owns the legal rights to the Chinese characters of the equivalent of his name, overturning a lower-court ruling. The lawsuit pitted Jordan against Qiaodan Sports Company, which he accused of using the Mandarin transliteration of his name on its goods. nyti.ms/2h8kN5j

- President-elect Donald Trump is considering formally turning over the operational responsibility for his real estate company to his two adult sons, but he intends to keep a stake in the business and resist calls to divest, according to several people briefed on the discussions. nyti.ms/2h8fgLI

Compiled by Sangameswaran S in Bengaluru

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