PRESS DIGEST-New York Times business news - May 20
May 20 (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 Senate has advanced a bipartisan bill to regulate stablecoins, overcoming initial Democratic resistance over concerns that President Trump and his family could financially benefit from the crypto industry, as lawmakers prioritized urgent consumer protections and market oversight.
- General Motors GM.N has stopped exporting U.S.-made vehicles like the Chevrolet Tahoe to China due to new tariffs, though the move affects only a tiny fraction of its sales there, as most GM vehicles sold in China are produced locally through joint ventures.
- Wendy McMahon, president of CBS News, has been forced out amid mounting tensions with the Trump administration and CBS parent company Paramount PARA.O, largely tied to political pressure over "60 Minutes" coverage and a $20 billion lawsuit from Trump over an interview with Kamala Harris.
- Shares of Chinese battery giant CATL 300750.SZ surged 16% in its Hong Kong debut, raising $4.6 billion in the year’s largest IPO so far, but U.S. onshore investors were barred due to rising geopolitical tensions and financial decoupling between the U.S. and China.
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