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PRESS DIGEST- New York Times business news - Oct. 22

·1 min read

Oct 22 (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.

- OxyContin maker Purdue Pharma has agreed to plead guilty to criminal charges related to its marketing of the addictive painkiller, and faces penalties of about $8.3 billion, the Justice Department announced on Wednesday. https://nyti.ms/3dMqHDS

- Quibi, the beleaguered short-form content company started by Jeffrey Katzenberg and Meg Whitman, announced on Wednesday that it was shutting down just six months after the app became available. https://nyti.ms/3kjalFa

- Amtrak’s chief executive warned federal lawmakers on Wednesday that the U.S. rail agency would have to continue steep cuts to its work force and delay infrastructure improvements if it does not receive $2.8 billion in emergency funding by December. https://nyti.ms/3knQQvo

(Compiled by Bengaluru newsroom)