December 17, 2015 / 5:34 AM / in 2 years

PRESS DIGEST- New York Times business news - Dec 17

Dec 17 (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 Federal Reserve said on Wednesday that it would raise short-term interest rates for the first time since the financial crisis, a decision it described as a vote of confidence in the American economy even as much of the rest of the world struggles. (nyti.ms/1Midnjp)

- General Electric Co, the nation's largest industrial company, expects next year to be one of economic uncertainty, geopolitical turmoil and slow growth. But despite the tentative business environment, Jeffrey Immelt, the chief executive, said Wednesday that GE should deliver double-digit gains in earnings per share in 2016. (nyti.ms/1RTc1Tw)

- European anti-fraud investigators said on Wednesday that they were looking into whether Volkswagen AG misused hundreds of millions of dollars in low-interest loans - threatening a significant source of funding for the crisis-struck automaker. (nyti.ms/1O9Blov)

- Third Avenue Management negotiated an agreement with the Securities and Exchange Commission over its abrupt decision to block investors in its stricken junk bond fund from taking out their money. (nyti.ms/1UCcU26)

- Steven Spielberg said on Wednesday that he and his DreamWorks Studios would join Participant Media, Reliance Entertainment and Entertainment One Ltd to form an entertainment company called Amblin Partners to produce movies, television shows and digital content. (nyti.ms/1RTcjK1) (Compiled by Sneha Johny in Bengaluru)

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