PRESS DIGEST- New York Times business news - June 1
June 1 (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.
- Shari Redstone made one of her boldest statements on Tuesday in the battle over her father's $40 billion media empire. Redstone underscored that she had no desire to manage Viacom nor to lead its board, but said she wanted "the best management in place" and "strong, independent directors who will properly oversee that management". (nyti.ms/1Ug8z2q)
- The billionaire activist investor Carl Icahn disclosed in a statement that he has bought "a large position" in Allergan , which is technically headquartered in Dublin. He didn't detail how large of a stake or when the purchase was made. (nyti.ms/1Ug9WOu)
- Volkswagen reported a 19 percent drop in its quarterly profit. However, the quarterly profit of $2.7 billion, was better than what analysts had forecasted. It was also an improvement from the loss in the last three months of 2015. (nyti.ms/1O47yOM)
- Michael Pearson, the former chief executive of Valeant Pharmaceuticals International who departed in early May during a series of investigations into the company's business practices, will receive a $9 million severance payment and continue working as a consultant through 2017, Valeant said Tuesday. (nyti.ms/22wVJTz) (Compiled by Bhanu Pratap in Bengaluru)
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