PRESS DIGEST- New York Times business news - August 4

Aug 4 (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.

- Federal prosecutors are investigating Kushner Companies, the real estate firm owned by the family of Jared Kushner over its use of a program that grants visas to wealthy overseas investors. The authorities are also looking into the role of Kushner's sister, Nicole Meyer. http://nyti.ms/2vnlIpm

- Avon Products Inc said its chief executive, Sherilyn McCoy, would step down at the end of March as the door-to-door seller of beauty products has faced pressure from activist investors to reshape its management and speed up its turnaround. http://nyti.ms/2vnYUGa

-The Trump administration said it would not delay an Obama-era regulation on smog-forming pollutants from smokestacks and tailpipes, reversing a decision that the EPA administrator, Scott Pruitt made in June, to put off an Oct. 1 deadline for designating which areas of the country met new ozone standards. http://nyti.ms/2vnQj6g

-Alibaba Group Holding Ltd and Kering SA, the owner of brands Gucci and Saint Laurent, said they had resolved their differences. Kering would withdraw a 2015 lawsuit charging that counterfeit goods had been sold from the Chinese e-commerce giant's website. http://nyti.ms/2vnogDW

(Compiled by Bengaluru newsroom)