May 24, 2016 / 6:01 AM / a year ago

PRESS DIGEST- New York Times business news - May 24

May 24 (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.

- Tribune Publishing Co has rejected both of Gannett Co Inc's takeover proposals, the latest valued at nearly double the price of Tribune's stock before news of their potential combination first surfaced in April. The publisher also raised the pressure saying it would issue almost five million shares to an investor, Nant Capital. The investor and a fund run by Tribune's chairman Michael Ferro combine to control nearly one-third of Tribune shares. (nyti.ms/25dfUYB)

- Viacom Inc Chief Executive Philippe Dauman, who was ousted from media mogul Redstone's powerful trust, called this move an "unlawful corporate takeover" by Sumner's daughter, Shari Redstone.(nyti.ms/1Xt06OF)

- Facebook Inc said on Monday that an internal investigation found no evidence of systemic political bias in the selection of news presented in a section of its app called Trending Topics. (nyti.ms/1Vgmgnc)

- A three-judge panel ruled on Monday that federal prosecutors had failed to prove that Bank of America Corp's Countrywide unit had defrauded Federal Home Loan Mortgage Corp and Federal National Mortgage Association, the government-backed mortgage firms, when it sold them troubled loans. (nyti.ms/25j8nL5)

- Exxon Mobil Corp has been under pressure for over a year to explain its handling of climate change issues in the past. Now the company faces new pressure to explain its future, particularly how it will change in response to a warming world. At the company's planned annual meeting on Wednesday in Dallas, shareholders will vote on a resolution to prod Exxon Mobil to disclose the risks of climate change to its business. (nyti.ms/1s6jNAh)

Compiled by Rishika Sadam in Bengaluru

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