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PRESS DIGEST-New York Times business news - May 22

Reuters SG
·1-min read

May 22 (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.

- Disney's Pixar will stop making original shows for Disney+ as part of a broader retrenchment, resulting in layoffs that will reduce its work force by 14%.

- Treasury Secretary Janet Yellen said that the U.S. and Europe need to work together to push back against China's excess industrial capacity, warning that a wave of cheap Chinese exports represents a grave threat to the global economy.

- A 73-year-old man died and dozens of people were injured after a Singapore Airlines plane encountered "sudden extreme turbulence" about 10 hours into a flight from London to Singapore.

(Compiled by Bengaluru newsroom)