New York Times business news - Sept. 1



Sept 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.

- Nvidia NVDA.O and Advanced Micro Devices AMD.O said that the Biden administration has imposed new restrictions sales to China and Russia on high-end GPUs that power supercomputers and artificial intelligence. Link

- Snap Inc, SNAP.N the maker of Snapchat said on Wednesday that its laying off 20% of its employees, discontinuing at least six products and appointing its first chief operating officer in seven years. Link

- Bed Bath & Beyond Inc BBBY.O on Wednesday laid out an aggressive plan of 150 store closures, cost cuts and 20% layoffs in its corporate and supply chain operations.

- Disney DIS.N on Wednesday confirmed that one idea to fulfill the promise to make Disney+ profitable by 2024 involves a membership program that would offer company-wide discounts or special perks. Link

- Toyota Motor Corp 7203.T said on Wednesday that it would add $2.5 billion to its investment in a battery plant in North Carolina as part of a broader effort to catch up to rivals in fielding electric vehicles. Link (Compiled by Bengaluru newsroom)

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