PRESS DIGEST- New York Times business news - May 22
May 22 (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.
* China is going to great lengths to satisfy its growing hunger for energy to fuel its expanding car fleet and electrify its swelling cities. The Chinese government showed that desire on Wednesday when it reached a 30-year natural gas deal with Russia, even as China was locked in a tense standoff with Vietnam over a Chinese oil rig drilling in the contested South China Sea. (r.reuters.com/quj59v)
* JD.com Inc, an online retailer aspiring to become China's answer to Amazon.com Inc, exceeded expectations for its initial public offering on Wednesday, raising $1.78 billion. Even though the company has lost money for the last several years, its stock sale valued the company at $25.7 billion, a valuation even higher than Twitter Inc's at its market debut last fall. (r.reuters.com/tuj59v)
* One of the prime assets that the estate of the bankrupt Lehman Brothers Holdings Inc still has to sell is a 20 percent stake in the $22 billion hedge fund D. E. Shaw. But so far, Lehman has found no takers. Over the last six months, the Lehman estate has been trying to drum up interest in the stake, which the Wall Street bank bought a year before it collapsed. But few investment firms solicited by the Goldman Sachs Group Inc bankers who are shopping it have shown much interest in what is one of the industry's more successful trading firms. (r.reuters.com/zuj59v)
* Airbnb, the apartment sharing service, and New York law enforcement officials came to an agreement Wednesday after a dispute over rental data that lasted for the better part of a year. Under the terms of the deal, Eric Schneiderman, the New York State attorney general, will get the information he is seeking about Airbnb hosts in New York City, but it will be stripped of names and other personally identifiable information. (r.reuters.com/byj59v)
* Investment firm Starboard Value is seeking to unseat Darden Restaurants Inc's entire 12-member board, people briefed on the matter said on Wednesday. The move comes after the restaurant operator announced plans last week to sell Red Lobster to Golden Gate Capital, a private- equity firm, for about $2.1 billion. Both Starboard and another hedge fund, Barington Capital Group, fiercely criticized the deal as a "firesale" that shortchanged them and other investors. (r.reuters.com/cyj59v) (Compiled by Aurindom Mukherjee in Bangalore)