June 13, 2018 / 4:09 AM / a year ago

PRESS DIGEST- New York Times business news - June 13

June 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.

- A federal judge on Tuesday approved the blockbuster merger between AT&T Inc and Time Warner Inc, rebuffing the government's effort to stop the $85.4 billion deal, in a decision that is expected to unleash a wave of corporate takeovers. nyti.ms/2LJpm1y

- Tesla Inc has lost money every year since its founding in 2003. But the automaker's chief executive, Elon Musk, is pulling out all the stops to end that streak. In the latest sign, Musk said Tuesday that Tesla would reduce its work force by about 9 percent, or roughly 3,500 of its 37,500 employees, as part of a company-wide restructuring. nyti.ms/2HHqEHS

- Bird, an electric scooter start-up, is raising $300 million in new funding that would value the company at $2 billion, according to three people with knowledge of the financing. nyti.ms/2HJFr4W

- After being the subject of an investigation into allegations of sexual harassment and assault, Paul Marciano has resigned from his position as executive chairman of Guess Inc's board, according to the company's filing with the Securities and Exchange Commission. nyti.ms/2LMziqO

- A powerful law used by New York's top prosecutor to bring fraud charges against Wall Street firms was reined in by the state's highest court on Tuesday, a decision that could imperil an $11 billion lawsuit against Credit Suisse Group and blunt a favored tool for pursuing wrongdoing by banks and their executives. nyti.ms/2LMnKUI (Compiled by Bengaluru newsroom)

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