May 17, 2019 / 4:26 AM / a year ago

PRESS DIGEST-New York Times business news - May 17

May 17 (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 European Commission said on Thursday it had fined Barclays PLC, Citigroup Inc, JPMorgan Chase & Co , Mitsubishi UFJ Financial Group Inc and the Royal Bank of Scotland Group PLC a combined 1.07 billion euros ($1.20 billion), for their roles in foreign exchange trading cartels.

- U.S. President Donald Trump has sought to put the brakes on a brewing confrontation with Iran in recent days, telling the acting defense secretary, Patrick Shanahan, that he does not want to go to war with Iran, administration officials said, while his senior diplomats began searching for ways to defuse the tensions.

- Architect IM Pei, best known for designing the East Building of the National Gallery of Art in Washington and the glass pyramid at the entrance to the Louvre in Paris, died early Thursday at his home in Manhattan. He was 102.

$1 = 0.8948 euros Compiled by Bengaluru newsroom

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