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PRESS DIGEST- New York Times business news - Dec 5

Published 05/12/2016, 04:46 pm
Updated 05/12/2016, 04:50 pm
© Reuters.  PRESS DIGEST- New York Times business news - Dec 5

© Reuters. PRESS DIGEST- New York Times business news - Dec 5

Dec 5 (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.

- Airbnb has agreed to drop the lawsuit that it filed against New York City two months ago. The suit challenged a New York law that called for fines of as much as $7500 for illegally listing a property on a rental platform such as Airbnb. It agreed to drop the suit as long as New York City enforces the new law only against hosts and does not fine Airbnb. Duet Group DUE.AX said Cheung Kong Infrastructure 1038.HK , an investment vehicle controlled by Li Ka-shing, has offered to acquire the Australian pipeline and electricity company for roughly $5.4 billion. The company said it was evaluating the offer. The Standing Rock Sioux Tribe won a major victory on Sunday in its battle to block an oil pipeline being built near its reservation when the Department of the Army announced that it would not allow the pipeline to be drilled under a dammed section of the Missouri River.The Army said it would look for alternative routes for the Dakota Access pipeline. Top Democratic lawmakers in California are moving to enact sweeping legislation to protect undocumented immigrants from deportation, the first sign of what they say will be an effort to resist immigration policies championed by President-elect Donald Trump. The measures would provide free legal help to undocumented immigrants during deportation proceedings, offer more assistance in criminal court, and further limit local law enforcement's cooperation with federal immigration agents.

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