PRESS DIGEST- New York Times business news - Nov 24

Tue Nov 24, 2015 12:44am EST
 
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Nov 24 (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 seafood industry in Thailand suffers from widespread labor and human rights abuses, exposing virtually all American and European companies that buy seafood from there to the "endemic risk" of having these problems as part of their supply chain, according to a report released on Monday by food giant Nestlé. (nyti.ms/1kQYe3m)

- Billionaire and activist investor Carl Icahn took aim at another famous American company on Monday, Xerox Corp ; and stepped up pressure on the insurance giant American International Group. In a filing with the Securities and Exchange Commission, Icahn announced he had built up a 7.1 percent stake in Xerox. (nyti.ms/1MzdhaC)

- In their first top-level trade talks since President Obama hosted China's leader in September, the U.S. and China said on Monday that they had made progress on sticking points, including preventing the theft of trade secrets and opening Chinese market more broadly to American multinationals. (nyti.ms/1N5e6oS)

- Billionaire investor William Ackman sharply increased his position in Valeant Pharmaceuticals, the embattled drug company, that has come under scrutiny. Ackman's Pershing Square Capital Management has increased its stake in Valeant to 9.9 percent, from 5.7 percent, according to a regulatory filing on Monday. (nyti.ms/1I7FK8I)

- In phone calls to Washington lawmakers and Obama administration officials, chief executive of Pfizer, Ian Read, said a merger with Allergan would significantly cut Pfizer's tax bill and give it more cash that it could invest in the United States and ultimately add jobs, according to people briefed on the calls. (nyti.ms/1X8FVaL) (Compiled by Mansi Goenka in Bengaluru)