May 23 (Reuters) – 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.
– Meta Platforms Inc on Monday was fined 1.2 billion euros ($1.3 billion) and ordered to stop transferring data collected from Facebook users in Europe to the U.S., in a major ruling against the social media company for violating European Union data protection rules.
– TikTok on Monday sued to block Montana from banning the popular video app, escalating its efforts to stop a prohibition that would be the first of its kind in the nation.
– U.S. Treasury Secretary Janet L. Yellen reiterated on Monday that the U.S. could be unable to pay its bills as soon as June 1, an announcement that maintains pressure on the White House and congressional leaders as they negotiate how to raise the nation’s debt limit.
– Federal prosecutors overseeing the investigation into former U.S. President Donald Trump’s handling of classified documents have issued a subpoena for information about Trump’s business dealings in foreign countries since he took office, according to two people familiar with the matter. (Compiled by Bengaluru newsroom)