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PRESS DIGEST- New York Times business news - May 30
May 30, 2017 / 5:26 AM / 6 months ago

PRESS DIGEST- New York Times business news - May 30

May 30 (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.

- British Airways, still grappling with the impact of a major technical failure over the weekend, said on Monday that it was running most flights normally. The airline's sister carriers, like Iberia in Spain, have also been hit with cancellations.

- Singapore's central bank fined Credit Suisse and United Overseas Bank (UOB) a total of S$1.6 million ($1.15 million) for breaches of anti-money laundering rules for transactions related to Malaysia's scandal-ridden state fund 1MDB. UOB was fined S$900,000 and Credit Suisse was fined S$700,000 wrapping up a two-year probe into banks involved in 1MDB-related transaction.

- Jay Clayton, who left Sullivan & Cromwell to become the chairman of the Securities and Exchange Commission, is expected to tap his former colleague Steven Peikin to serve as its co-director of enforcement. Clayton is also expected to name Stephanie Avakian, the agency’s acting enforcement director and a former white-collar defense lawyer, as co-director.

- First Data agreed on Monday to buy CardConnect , a fellow payment processor, for about $750 million in cash including the repayment of debt, in its biggest takeover since going public in 2015. First Data will pay $15 a share, a nearly 10 percent premium over CardConnect’s closing price on Friday. ($1 = 1.3875 Singapore dollars) (Compiled by Bengaluru newsroom)

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