February 27, 2019 / 6:48 AM / 7 months ago

PRESS DIGEST- New York Times business news - Feb 27

Feb 27 (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.

- The United Arab Emirates said on Tuesday that it would use equipment from the Chinese technology giant Huawei Technologies Co Ltd to build a new high-speed wireless network, despite pressure by the U.S. to steer clear of the company's products. nyti.ms/2Vk2GcQ

- The federal government on Tuesday lost its second court challenge to AT&T's $85.4 billion merger with Time Warner, a blockbuster deal that has already begun to reshape much of the media industry. A three-judge panel of the United States Court of Appeals for the District of Columbia rejected the government's claim that a lower court had applied antitrust laws incorrectly in allowing the merger to proceed. nyti.ms/2VqOdfp

- Italian-American automaker Fiat Chrysler Automobiles NV said on Tuesday that it planned to spend $4.5 billion over the next three years to update several Detroit plants and retool an engine plant to make Jeeps, an effort the company said would create about 6,500 new jobs. nyti.ms/2VmbU8v

- U.S. President Donald Trump's decision to cap a popular tax break will hit 11 million filers this year, as they can no longer deduct more than $10,000 in state and local taxes from their federal income taxes. This cap on deductions will mean filers cannot deduct $323 billion in state and local tax payments on their 2018 federal returns, according to a Treasury audit that was released on Tuesday. nyti.ms/2VopRT nyti.ms/2VopRTn (Compiled by Bengaluru newsroom)

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