PRESS DIGEST- New York Times business news - Jan 14

Jan 14 (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 Competition Commission of India on Monday opened a formal investigation into the practices of and Walmart's Flipkart.

- The federal budget deficit surpassed $1 trillion in 2019, the U.S. Treasury Department said on Monday, as tax cuts and spending increases continued to force heavy government borrowing amid a record-long economic expansion.

- Attorney General William Barr asked Apple on Monday to provide access to the two phones used by the gunman linked to the shooting that happened last month at a naval air station in Pensacola.

- The U.S. Treasury Department formally dropped China's designation as a currency manipulator on Monday, offering a major concession to the Chinese government as senior officials arrived in Washington to sign a trade agreement with President Trump.

- EU Trade Commissioner Phil Hogan arrived in Washington on Monday to fix trade relations with U.S. (Compiled by Bengaluru newsroom)