November 10, 2015 / 5:44 AM / in 2 years

PRESS DIGEST- New York Times business news - Nov 10

Nov 10 (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.

- Greece's international bailout program has hit snags, delaying release of the next payout of rescue money. Despite a weekend of negotiations over telephone, Greek officials and the country's foreign creditors remained at odds. (nyti.ms/1WO0GTy)

- Canadian Pacific Railway Ltd held preliminary discussions with Norfolk Southern Corp, one of the handful of operators, who control the roughly 95,000 miles of top-quality railroad tracks in the U.S., for a takeover. The two railroads ultimately may not reach a deal. (nyti.ms/1SemGpB)

- Volkswagen AG said it would begin talks with worker representatives about how to cut costs - in the latest sign that the company's crisis over cheating on emissions tests is taking a heavy toll. The German automaker said it would offer up to $1,000 to owners of diesel cars in the U.S. affected by the scandal. (nyti.ms/1HDZfjO)

- Local leaders of United Automobile Workers on Monday endorsed a proposed labor agreement with Ford Motor Company, that is slightly richer than contracts agreed to by union workers at General Motors Co and Fiat Chrysler Automobiles NV. The move by the union leadership paves a way for voting on the four-year agreement by more than 52,000 Ford workers. (nyti.ms/1M3jvzi)

- William Ackman, founder of Pershing Square Capital Management, responded aggressively to the media's coverage of a four-hour conference call that he held on Oct. 30. The call was held to defend his hedge fund's 21-million-share stake in Valeant Pharmaceuticals International Inc. Valeant's stock price plunged more than 60 percent over the last several months because of its controversial pricing tactics. (nyti.ms/1lhJGK3)

- A slowdown in international trade could be a harbinger of a new recession for the world's leading economies, the Organization for Economic Cooperation and Development said in its world economic outlook. (nyti.ms/20ID4Vm)

- Even as the world shifts toward lower-carbon forms of energy, the changes are happening too slowly to keep global temperatures from rising to dangerous levels in the coming decades, International Energy Agency said in its report. (nyti.ms/1lhJQRy) (Compiled by Sangameswaran S in Bengaluru)

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