May 3, 2018 / 4:34 AM / in a year

PRESS DIGEST- New York Times business news - May 3

May 3 (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 embattled political consulting firm Cambridge Analytica said on Wednesday that it would cease most operations and file for bankruptcy amid growing legal and political scrutiny of its business practices.

- Inc said it would halt construction of a new building it was planning to erect in downtown Seattle and reconsider occupying another that is already under construction, putting 7,000 or more jobs in jeopardy.

- Goldman Sachs Group Inc, is moving ahead with plans to set up what appears to be the first Bitcoin trading operation at a Wall Street bank. The bank will use its own money to trade in Bitcoin-related contracts.

- Xiaomi Technology Co, the Chinese gadget maker that has become one of the world's largest smartphone companies, has picked Hong Kong to list its shares in what is widely expected to be a major initial public offering.

Compiled by Bengaluru newsroom

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