PRESS DIGEST- New York Times business news - Feb 1
Feb 1 (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.
- The drug maker Biogen said on Wednesday it would abandon its ownership rights to Aduhelm, an Alzheimer's drug that had provoked fierce criticism of the company and regulators after it was approved based on weak evidence that it would help patients.
- Universal Music Group said it would revoke the licenses for its vast catalog of songs from TikTok after its current contract expires on Wednesday if the two companies could not reach a new deal addressing Universal's concerns over artist compensation, artificial intelligence and other issues.
- The House gave broad bipartisan approval on Wednesday to a $78 billion bill that would expand the child tax credit and restore a set of corporate tax breaks, a rare feat in an election year by a Congress that has labored to legislate.
- Walmart will add 150 stores in the United States over the next five years, a major expansion drive for the retail giant, the company said in a statement on Wednesday. (Compiled by Bengaluru newsroom)
