PRESS DIGEST-New York Times business news – June 19

June 19 (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.

– U.S. President Donald Trump said on Tuesday that he and President Xi Jinping of China had spoken by phone and would have an “extended” meeting at the Group of 20 meeting next week in Osaka, Japan. Trump’s comments were the first confirmation that the two leaders would actually meet after trade talks between the United States and China stalled in May. nyti.ms/2IRgSpc

– Facebook Inc on Tuesday unveiled a plan to create an alternative financial system that relies on a cryptocurrency that the company has been secretly working on for more than a year. The cryptocurrency, called Libra, which was announced with 27 partners as diverse as Mastercard Inc and Uber Technologies Inc, will have to overcome concern that Facebook does not effectively protect the private information of its users. nyti.ms/2IUIWrz

– Alphabet Inc’s Google said it has pledged to invest $1 billion to ease Bay Area Housing Crisis and plans to repurpose at least $750 million worth of commercially zoned land it owns over the next 10 years. Google would work with local governments to allow developers to lease the land to build homes. nyti.ms/2IToFCT

– Canada will move forward with a pipeline project that has set the country’s provinces against one another, opened rifts among its Indigenous communities and prompted major protests. The project, which will expand the Trans Mountain pipeline that links Alberta’s oil sands to British Columbia, is a critical component of Prime Minister Justin Trudeau’s longstanding position that Canada needs to maintain a strong energy industry to support its efforts to combat climate change. nyti.ms/2ITq4JF

Compiled by Bengaluru newsroom

Comments are closed.