PRESS DIGEST- New York Times business news - Oct 22
Oct 22 (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 U.S. Treasury on Wednesday urged Congress to help debt-stricken Puerto Rico, saying the U.S. commonwealth needs the ability to file for bankruptcy protection, changes to Medicaid funding and access to the Earned Income Tax Credit. (nyti.ms/1kttkgZ)
- A report from Citron Research, which all but called Valeant the pharmaceutical equivalent of Enron, set in motion a tidal wave of selling on Wednesday. At one point, shares of Valeant were down as much as 40 percent. (nyti.ms/1RpzZTE)
- In an important breakthrough for Chinese industry and global influence, the British and Chinese governments agreed on Wednesday to give China a substantial stake in the British nuclear industry, both as an investor and as a contractor. (nyti.ms/1GVkfCc)
- Buyout firm Kohlberg Kravis Roberts is taking part in a $50 million investment led by KKR & Co in Cohera Medical, a Pittsburgh-based start-up focused on creating adhesives that can replace surgical sutures. As part of the investment, Ali Satvat, a director at KKR who led the transaction, will join Cohera's board. (nyti.ms/1OJSioU)
(Compiled by Shivam Srivastava in Bengaluru)
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