May 22, 2020 / 4:44 AM / 9 days ago

PRESS DIGEST-New York Times business news - May 22

May 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.

- Parting with years of precedent, China abandoned its growth target for 2020, in an acknowledgment that restarting its economy after the coronavirus outbreak will be a slow and difficult process. nyti.ms/2zZ1FS6

- U.S. Federal Reserve Chairman Jerome Powell and other top central bank officials warned on Thursday that the United States was experiencing an exceptional shock in the coronavirus pandemic, and that it was wildly unclear when and how low unemployment and widespread prosperity would return. nyti.ms/2LLRiUx

- The U.S. Department of Health and Human Services said on Thursday it would provide 'up to $1.2 billion' to the drug company AstraZeneca plc to develop a potential vaccine from a laboratory at Oxford University. nyti.ms/2ZsAf1S

- Facebook Inc said on Thursday that it would allow many employees to work from home permanently. But there's a catch: They may not be able to keep their big Silicon Valley salaries in more affordable parts of the country. nyti.ms/36m0BUm (Compiled by Bengaluru newsroom)

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