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PRESS DIGEST- New York Times business news - Feb. 5

· 02/05/2021 00:38
PRESS DIGEST- New York Times business news - Feb. 5

- 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.

- Election technology company Smartmatic has sued Rupert Murdoch's Fox Corp FOXA.O for over $2.7 Billion, accusing his cable networks of defamation and contributing to the fervor that led to the siege of the Capitol. https://nyti.ms/3tuPVOE

- Ford Motor Co F.N is racing to develop electric cars and trucks in the hope they will juice its sales in the next several years and plans to spend $22 billion on electric vehicles over 10-year period ending in 2025. It previously planned to spend $11.5 billion through 2022. https://nyti.ms/3aEGumW

- Facebook Inc'S FB.O Instagram is coordinating with other social media platforms, including Twitter Incand TikTok, to ban users who have been involved in stealing hundreds of single-word user names. https://nyti.ms/3cGYLme

- Treasury Secretary Janet Yellen met with fellow regulators to discuss recent market volatility and few wild weeks on Wall Street, in which a crush of retail investors sent stocks soaring — in GameStop Corp's GME.N case, more than 1,700 percent — and then plunging back to earth. https://nyti.ms/3tqWKAB

(Compiled by Bengaluru newsroom)