September 25, 2018 / 5:15 AM / 8 months ago

PRESS DIGEST- New York Times business news - Sept 25

Sept 25 (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.

- Kevin Systrom and Mike Krieger, co-founders of the photo-sharing app Instagram, have resigned and plan to leave the company in the coming weeks, adding to the challenges facing Instagram's parent company, Facebook Inc.

- Starbucks Corp plans to thin out its executive ranks as part of a corporate reshuffling that it hopes will help revitalize sales and hasten its growth overseas.

- Michael Kors Holdings Ltd is close to announcing a deal to buy Versace, the Italian fashion house, in its latest step toward becoming a rival for Europe's luxury conglomerates, two people with knowledge of the matter said Monday.

- Satellite radio provider Sirius XM Holdings Inc said on Monday that it would acquire the music streaming service Pandora Media Inc for $3.5 billion, in a bid to corral listeners who don't want to pay for premium channels.

- Telltale Games, an independent developer and publisher that championed narrative in video games through its characters' conversations and quandaries, laid off most of its staff on Friday, the company said. (Compiled by Bengaluru newsroom)

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