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PRESS DIGEST- New York Times business news - Feb 20

Reuters
·1-min read

Feb 20 (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.

- Capital One, a U.S. consumer lender backed by Warren Buffett, said on Monday that it will acquire credit card issuer Discover Financial Services in an all-stock transaction valued at $35.3 billion.

- The U.S. government is awarding $1.5 billion to GlobalFoundries to expand semiconductor production, the Biden administration said on Monday, in a bid to strengthen domestic supply chains.

- The European Union will investigate whether ByteDance's TikTok breached online content rules aimed at protecting children and ensuring transparent advertising, an official said on Monday, putting the social media platform at risk of a hefty fine.

- Brazilian President Luiz Inacio Lula da Silva has recalled his ambassador to Israel for consultations, according to a column in newspaper Folha de S. Paulo published on Monday. (Compiled by Bengaluru newsroom)