PRESS DIGEST-New York Times business news - July 5
July 5 (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.
* Answering critics who said they were running out of ways to promote growth and lending, the European Central Bank and the Bank of England on Thursday did something neither had done before, committing themselves to keeping interest rates low indefinitely. ()
* After years of lowering book prices, Amazon is offering smaller discounts on some books. Authors and small publishers said this put some books beyond an audience's reach. ()
* The first Soviet republic to reclaim its independence was Lithuania. But more than two decades later, the energy industry of this European Union member still feels like an outpost of a creaking empire run from Moscow. ()
* China wants to use Shanghai as a platform for financial overhauls, including interest rate liberalization and full convertibility of China's currency. ()
* The International Monetary Fund and Pakistan reached a provisional agreement on Thursday on a $5.3 billion bailout package that aims to bolster Pakistan's flagging economy and its perilously low foreign exchange reserves. ()
* Nestlé and Danone will trim their prices on some infant formula after China began an investigation of price fixing by sellers of the milk. ()