October 6, 2015 / 5:13 AM / 2 years ago

PRESS DIGEST- New York Times business news - Oct 6

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Oct 6 (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 United States, Japan and 10 other Pacific Rim nations on Monday reached final agreement on the largest regional trade accord in history, teeing up what could be the toughest fight President Obama will face in his final year in office: securing approval from Congress. (nyti.ms/1VAeqpL)

- DuPont said on Monday afternoon that Chief Executive Ellen Kullman, who is 59, would step down on Oct. 16, while conceding that it would have to cut its earnings forecast and accelerate a cost-cutting plan. (nyti.ms/1RrLfzo)

- Nelson Peltz's Trian Fund Management has acquired a $2.5 billion stake in General Electric Co, seeking to reboot the stock after what the activist investor called a "tough decade" of performance. (nyti.ms/1OSXUNt)

- Apparently looking to exploit the collapse of oil prices, Suncor Energy Inc, the largest integrated energy company in Canada, announced a hostile takeover bid for Canadian Oil Sands Ltd on Monday that it valued at C$6.6 billion dollars. (nyti.ms/1Q350ME)

- The Swiss food giant Nestle SA said on Monday that it was in "advanced discussions" with R&R Ice Cream of Britain to form a joint venture that would combine some of Nestle's international ice cream operations with R&R. (nyti.ms/1RrMgYc)

- The British government said on Monday that it planned to sell a 2 billion pound ($3.03 billion) stake in the Lloyds Banking Group to retail investors in the spring, as it prepares to exit ownership of the lender. (nyti.ms/1M967eG)

- American Apparel Inc, the onetime arbiter of made-in-America cool, filed for bankruptcy protection early Monday, its business crippled by huge debts, a precipitous fall in sales, employee strife and a drawn-out legal battle with the retailer's ousted founder, Dov Charney. (nyti.ms/1RrMpeo) ($1 = 0.6595 pounds) (Compiled by Rama Venkat Raman in Bengaluru)

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