PRESS DIGEST- New York Times business news - May 2

Reuters05-02

May 2 (Reuters) - 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.

- Johnson & Johnson said that it would ask tens of thousands of people suing the company over claims that its talcum powder products caused their cancer to approve a new $6.5 billion settlement, its third attempt to resolve the lawsuits.

- Lawmakers sharply criticized UnitedHealth Group's handling of the cyberattack on the company's Change Healthcare unit that paralyzed the U.S. health care system, citing the failure of its security systems and the potential disclosure of sensitive medical information of millions of Americans.

- The U.S. announced nearly 300 new sanctions on international suppliers of military equipment technology that the administration said have been helping Russia restock its arsenal as it carries out the war in Ukraine.

- Federal Reserve officials left interest rates unchanged and signaled that they were wary about how stubborn inflation was proving, paving the way for a longer period of high borrowing costs.

(Compiled by Bengaluru newsroom)

((globalnewsmonitoring@thomsonreuters.com))

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