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PRESS DIGEST- New York Times business news - Dec 13
December 13, 2016 / 6:47 AM / in a year

PRESS DIGEST- New York Times business news - Dec 13

Dec 13 (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.

- President-elect Donald Trump settled on Rex Tillerson, the chief executive of Exxon Mobil, to be his secretary of state, transition officials said. In naming him, the president-elect is dismissing bipartisan concerns that Tillerson, the globe-trotting leader of an energy giant, has a too-cozy relationship with Vladimir Putin, the president of Russia.

- Christine Lagarde, the managing director of the International Monetary Fund, went on trial in Paris on Monday, facing criminal charges that when she was France's finance minister, her negligence resulted in the misuse of hundreds of millions of euros in public money.

- A business tax overhaul championed by a Berkeley professor could advance President-elect Donald Trump's job-creation agenda without tariffs or presidential deal-making.

- President-elect Donald Trump said on Monday that the cost of building the military's next-generation fighter jet, the F-35 Joint Strike Fighter, had spiraled "out of control", and he vowed to save billions of dollars on military programs once he enters office next month.

- In a sign of widening fallout from Wells Fargo's sales scandal, Prudential Financial Inc said it was suspending sales of its life insurance policies through Wells Fargo & Co until it completed an investigation into the bank's sales tactics.

- Donald Trump officially asked Goldman Sachs Group Inc President and Chief Operating Officer Gary Cohn to serve as director of his National Economic Council, removing a crucial impediment for Goldman's next generation of leaders.

- Boeing Co announced a $16.6 billion deal to sell planes to Iran, which for decades had been economically blacklisted by the United States. The company instead chose to emphasize how many jobs the sale would support.

- Bill Gates, co-founder of Microsoft Corp, has started a fund to invest in energy research to reduce the causes of climate change, work that would build on efforts that may be threatened by a Trump administration. (Compiled by Aurindom Mukherjee in Bengaluru)

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