May 2, 2019 / 5:06 AM / a month ago

PRESS DIGEST- New York Times business news - May 2

May 2 (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 U.S. Federal Trade Commission is negotiating a settlement with Facebook Inc that would create new positions at the company focused on strengthening its privacy practices, according to two people with knowledge of the talks.

- The U.S. Federal Reserve left interest rates unchanged on Wednesday, and its chairman, Jerome Powell, stressed that it would remain patient, even as investors looked for a rate cut and President Donald Trump urged one.

- British Prime Minister Theresa May on Wednesday abruptly fired her defense secretary, Gavin Williamson, blaming him for a leak that suggested she would give a role in designing a British telecommunications network to Chinese company Huawei Technologies Ltd, which is considered a security risk by the United States.

- Walt Disney Co's Alan Horn, chairman of its movie division Walt Disney Studios, on Wednesday agreed to extend his contract for an unspecified number of years as part of an arrangement that adds a title — Chief Creative Officer — and a partner, while the division's President Alan Bergman was promoted to co-chairman. (Compiled by Bengaluru newsroom)

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