January 16, 2015 / 6:08 AM / 3 years ago

PRESS DIGEST- New York Times business news - Jan 16

Jan 16 (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 Organization of the Petroleum Exporting Countries issued a report on Thursday that downgraded demand for its crude for 2015, while also predicting slower oil-production growth in the United States. (nyti.ms/1yq52qv)

* UBS AG has agreed to pay $14.5 million to settle accusations by the Securities and Exchange Commission that a subsidiary violated federal securities laws in its operation of a private stock trading system known as a dark pool. (nyti.ms/1y468JB)

* The casino operator Caesars Entertainment Corp was locked in a bitter standoff with some creditors on Thursday after it put its largest unit into bankruptcy. (nyti.ms/1wfqutZ)

* Foreign currency traders around the world are coming under pressure following the Switzerland central bank's surprise decision on Thursday to remove the cap on its currency. (nyti.ms/1u81Zoz)

* The months-long race for Family Dollar Stores Inc appeared near an end on Thursday, as Dollar General Corp pleaded for more time to complete its $9.1 billion hostile takeover bid amid steep regulatory hurdles. (nyti.ms/1CtYsA2)

* Less than two years after opening in Canada, Target Corp conceded defeat on Thursday and said it would shutter its 133 stores, bringing an infamously ill-managed northward foray by the American retail giant to an abrupt end. (nyti.ms/1y2iim6)

* A federal judge will hold BP Plc responsible for spilling 3.19 million barrels of oil into the Gulf of Mexico in the 2010 Deepwater Horizon disaster - a finding that could lead to a penalty of nearly $14 billion. (nyti.ms/15aHnA3)

* Bombardier Inc, the Canadian aerospace and railway equipment maker, said on Thursday that it would lay off about 1,000 employees and post a $1.4 billion write-down as a result of its decision to suspend development of the Learjet 85 business aircraft. (nyti.ms/1AWMFdy)

Compiled by Rama Venkat Raman in Bengaluru

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