May 19, 2020 / 5:12 AM / a month ago

PRESS DIGEST- New York Times business news - May 19

May 19 (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.

- Walt Disney Co's top streaming executive, Kevin Mayer, resigned on Monday to become the chief executive officer of TikTok, the app for making and sharing short videos that has exploded in popularity during the COVID-19 pandemic. Mayer will also serve as chief operating officer of ByteDance Ltd, that owns TikTok.

- Pacific Gas & Electric said on Monday thousands of homeowners and businesses had overwhelmingly approved a $13.5 billion settlement for wildfires caused by the utility's equipment, an important victory in its effort to resolve its bankruptcy.

- The first coronavirus vaccine to be tested in people appears to be safe and able to stimulate an immune response against the infection, the manufacturer, Moderna, announced on Monday, offering a glint of hope to a world desperate for ways to stop the pandemic. (Compiled by Bengaluru newsroom)

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