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PRESS DIGEST- New York Times business news - March 2
March 2, 2017 / 7:17 AM / 9 months ago

PRESS DIGEST- New York Times business news - March 2

March 2 (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.

- Yahoo's top lawyer Ronald S. Bell resigned Wednesday, and its chief executive, Marissa Mayer, lost her 2016 bonus after a board investigation of the 2014 theft of information on more than 500 million user accounts.

- The Federal Communications Commission on Wednesday halted new government rules related to data security from taking effect this week, in a potential prelude to a broader repeal of privacy protections for users of high-speed internet.

- Snap Inc priced its IPO at $17 a share. Investors, attracted by Snapchat's hold on its millennial users, who check the app on average more than 18 times a day, flocked to the initial public offering, pushing its parent company to a valuation of nearly $24 billion. The stock sale sets Snap up as the most valuable American technology company to go public since Facebook nearly five years ago.

- Ray Dalio, the billionaire founder of Bridgewater Associates, the world's biggest hedge fund, is stepping down from its day-to-day operation as he continues to struggle to find a successor to run the firm, known for its unusual culture of "radical transparency."

- President Trump's address to Congress on Tuesday night buoyed House Republican leaders who were hopeful that his leadership would unite fractious lawmakers around a plan to replace the Affordable Care Act. But fundamental disagreements still divide Republicans on one of the central promises of their 2016 campaigns: repealing the health law.

Compiled by Vishal Sridhar in Bengaluru

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