New York Times business news - May 13
May 13 (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.
- Federal Reserve Chair Jerome Powell said on Thursday the central bank has both the tools and resolve to bring down rapid inflation — though he acknowledged that the path to lower price increases could be a painful one. Link
- Meatpackers in the United States successfully lobbied the Trump administration in the early months of the coronavirus pandemic to keep processing plants open despite knowing the health risks to their workers, according to a congressional report released on Thursday. Link
- Twitter Inc's TWTR.N Chief Executive Officer Parag Agrawal fired two top executives, froze most new hiring and said he was slashing spending on Thursday, as the social media company tries to change its business trajectory while grappling with a takeover from Elon Musk, the world's richest man. Link
- German electronics giant Siemens AG SIEGn.DE is exiting Russia after about 170 years of business there, the latest in a long list of companies to pull out of the country since its invasion of Ukraine in February. Link (Compiled by Bengaluru newsroom)
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