Jan 13 (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.
- Insurer MetLife said on Tuesday that it was exploring spinning off its retail life and annuity business in the United States because of financial pressures it is facing under regulations put in place in the wake of the financial crisis. (nyti.ms/1RBWWHc)
- Regulators in California on Tuesday formally rejected Volkswagen's plan to fix its polluting diesel engines, underscoring their frustration with the German automaker's ability to repair its defective vehicles. (nyti.ms/1RBX0Hb)
- Puerto Rico's troubled electric monopoly, mired in about $9 billion of debt, stands to run out of money by mid-summer if its hard-won plans to restructure fall through - something that could happen this month, a top official of the utility told a congressional panel on Tuesday. (nyti.ms/1RBXjl7)
- British oil giant BP PLC said on Tuesday it would eliminate 4,000 of the approximately 24,000 positions in its exploration and production units this year. That would be in addition to about 4,000 jobs that the company cut last year, when it trimmed its work force to about 80,000. (nyti.ms/1RBZfdl)
- The pension board of the United Methodist Church - one of the largest Protestant denominations in the United States, with more than seven million members - has placed five Israeli banks on a list of companies that it will not invest in for human rights reasons, the board said in a statement on Tuesday. (nyti.ms/1RBXzkh)
Compiled by Ankush Sharma in Bengaluru