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PRESS DIGEST- New York Times business news - May 23
May 23, 2017 / 5:16 AM / 7 months ago

PRESS DIGEST- New York Times business news - May 23

May 23 (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 Donald Trump's first budget promises booming economic growth, sharp tax cuts and an end to federal deficits. Experts say it's too good to be true.

- Arconic Inc, an industrial parts maker, will give the hedge fund Elliott Management three seats on its board, avoiding a proxy fight and the potential for an investor revolt.

- Citigroup Inc agreed to pay $97.4 million on Monday in a settlement after a long federal investigation into Banamex USA. In exchange, the Justice Department will not file criminal charges against the bank in connection with inadequate oversight of Banamex USA, which is based in California.

- Kenyan drivers say that Uber Technologies Inc's plans to start a discounted service in Nairobi will eat further into their already meager earnings.

- More evidence emerged Monday that North Korean hackers were behind the global ransomware attack that still holds hundreds of thousands of computers hostage, according researchers at the security company Symantec Corp.

Compiled by Bengaluru newsroom

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