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PRESS DIGEST- New York Times business news - May 30

Reuters

May 30 (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.

- British Airways, still grappling with the impact of a major technical failure over the weekend, said on Monday that it was running most flights normally. The airline's sister carriers, like Iberia in Spain, have also been hit with cancellations. http://nyti.ms/2qAX0LH

- Singapore's central bank fined Credit Suisse and United Overseas Bank (UOB) a total of S$1.6 million ($1.15 million) for breaches of anti-money laundering rules for transactions related to Malaysia's scandal-ridden state fund 1MDB. UOB was fined S$900,000 and Credit Suisse was fined S$700,000 wrapping up a two-year probe into banks involved in 1MDB-related transaction. http://nyti.ms/2qB1PEO

- Jay Clayton, who left Sullivan & Cromwell to become the chairman of the Securities and Exchange Commission, is expected to tap his former colleague Steven Peikin to serve as its co-director of enforcement. Clayton is also expected to name Stephanie Avakian, the agency’s acting enforcement director and a former white-collar defense lawyer, as co-director. http://bbc.in/2qAQpRF

- First Data agreed on Monday to buy CardConnect , a fellow payment processor, for about $750 million in cash including the repayment of debt, in its biggest takeover since going public in 2015. First Data will pay $15 a share, a nearly 10 percent premium over CardConnect’s closing price on Friday. http://nyti.ms/2qB6LtD ($1 = 1.3875 Singapore dollars) (Compiled by Bengaluru newsroom)