December 29, 2015 / 5:24 AM / 2 years ago

PRESS DIGEST- New York Times business news - Dec 29

Dec 29 (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 Department of Homeland Security said airport screeners may soon start accepting only licenses that meet federal standards, despite resistance from privacy advocates. (nyti.ms/1Jd3Pf4)

- U.S. Hedge fund managers have stunned investors with the depth of their losses this year, and pressure to perform better will be intense heading into 2016. (nyti.ms/1mfrB00)

- Pressured by low oil prices and costly wars in the Middle East, Saudi Arabia announced a sharp reduction in its 2016 budget on Monday to control a worsening deficit, which is steadily draining the kingdom's financial reserves. (nyti.ms/1IAacsB)

- Valeant Pharmaceuticals International Inc, a drug company whose business model has been under siege, announced on Monday that Michael Pearson, its chairman and chief executive, was on medical leave and that a team of executives would run the company while he was out. (nyti.ms/1OvLjka) (Compiled by Rishika Sadam in Bengaluru)

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