PRESS DIGEST- New York Times business news - Feb 8
Feb 8 (Reuters) - 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.
- Zoom, the videoconferencing giant that grew rapidly during the pandemic, said on Tuesday that it was laying off 15 percent of its work force, or about 1,300 employees, becoming the latest tech company to cut back amid looming concerns about the economy.
- A former employee of the Coinbase cryptocurrency exchange pleaded guilty on Tuesday to insider trading, the first time a crypto industry insider has admitted to trying to profit from confidential information.
- The Biden administration urged the Supreme Court on Tuesday to dismiss a challenge to ending the pandemic-era immigration measure known as Title 42, saying that the government's announcement that the health emergency would expire on May 11 would make the case moot.
- Jerome H. Powell, the chair of the Federal Reserve, underscored that the central bank has more work to do when it comes to slowing the economy and that officials remain determined to wrestle rapid inflation under control, even if that means pushing rates higher than expected. (Compiled by Bengaluru newsroom)
