July 11, 2019 / 5:56 AM / 4 months ago

PRESS DIGEST- New York Times business news - July 11

July 11 (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.

- The Trump administration said on Wednesday that it would investigate whether a French plan to impose a tax on U.S. technology giants like Facebook and Google amounts to an unfair trade practice that could be punished with retaliatory tariffs, escalating its global trade fight. nyti.ms/30pzBzl

- China denied making any explicit commitment to buy U.S. farm products during their recent discussions in Japan, and instead saw large-scale purchases as contingent on progress toward a final trade deal that is still nowhere in sight, according to people familiar with the negotiations. nyti.ms/2LcVkXD

- Federal prosecutors are investigating Deutsche Bank AG's role in a scheme that looted a Malaysian government fund, according to a person with knowledge of the matter, drawing the troubled German bank into a scandal that has already ensnared a U.S. competitor, Goldman Sachs Group Inc. nyti.ms/2S6FbDL

- The Federal Reserve chair, Jerome Powell, signaled on Wednesday that the Fed could soon cut interest rates, sending stocks higher as the benchmark S&P 500 stock index briefly traded above 3,000 for the first time. nyti.ms/2xJXDbK

- A Lockheed Martin Corp helicopter plant in Coatesville, Pennsylvania, is staying open after U.S. President Donald Trump urged its chief executive, Marillyn Hewson, not to close it as planned. nyti.ms/2S5DXsi (Compiled by Bengaluru newsroom)

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