PRESS DIGEST- New York Times business news – July 10

July 10 (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 number of new state unemployment claims in the U.S. dipped last week, but job losses continue to batter the economy as rising coronavirus cases pushed some regions of the country to reverse course and reimpose shutdown orders on businesses.

– A battle of the hedge funds is brewing in the bankruptcy auction of the McClatchy Co, one of the United States’ largest and most decorated newspaper chains, pitting Chatham Asset Management and Brigade Capital Management, both debt holders in the chain, against a newcomer to the proceedings, Alden Global Capital.

– Twenty of the world’s largest pharmaceutical companies on Thursday announced the creation of a $1 billion fund to buoy financially strapped biotech start-ups.

– Joy Reid, who rose to television fame as a sharp critic of U.S. President Donald Trump and commentator on liberal politics and race, will become the host of a new nightly show on MSNBC, the network owned by Comcast announced on Thursday, placing her among a handful of Black women to anchor an American evening news program. (Compiled by Bengaluru newsroom)

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