May 7, 2020 / 4:30 AM / 19 days ago

PRESS DIGEST-New York Times business news - May 7

May 7 (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.

- Gap Inc, the mall stalwart that owns its namesake brand, Old Navy, Banana Republic and Athleta, said it plans to reopen up to 800 stores in North America by the end of the month. nyti.ms/2WB5ZP4

- The embattled small business lending program at the center of the Trump administration's economic rescue is running into a new set of challenges, one that threatens to saddle borrowers with huge debt loads, as banks begin the tricky task of proving the loans they extended actually met the government's strict and shifting terms. nyti.ms/2WxsTHg

- An apparent gas leak at a factory owned by South Korea's LG Corp in the southern Indian state of Andhra Pradesh has left at least 3 dead and 1,000 ill. nyti.ms/2YHObVk

- The European Commission released projections on Wednesday that Europe's economy will shrink by 7.4 percent this year following the coronavirus pandemic. nyti.ms/2WNm1FV (Compiled by Bengaluru newsroom)

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