PRESS DIGEST - New York Times business news - Feb 9

Tue Feb 9, 2010 12:21am EST

Feb 9 (Reuters) - The following were the top stories in the New York Times business pages on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.

* Toyota Motor Corp (7203.T) will recall its flagship 2010 Prius hybrid due to a glitch in its braking system, it announced Tuesday, adding to the burgeoning crisis at the Japanese automaker.

* Flush with cash despite the global economic downturn, China's sovereign wealth fund quietly bought more than $9 billion worth of shares last year in some of the biggest American corporations, including Morgan Stanley (MS.N), Bank of America Corp (BAC.N) and Citigroup Inc (C.N).

* SAP (SAPG.DE), the German software maker, said Monday that it would focus on restoring its damaged customer relationships after a surprise management shake-up that cost the chief executive his job.

* A former executive of Intel Corp (INTC.O) admitted in court on Monday that he had leaked confidential corporate information to his close friend Raj Rajaratnam, the founder of the Galleon Group hedge fund.

* Google Inc (GOOG.O) is trying once again to capture some of the momentum surrounding social networking companies like Facebook and Twitter by adding new features to Gmail, its popular e-mail service.

* In another tough stretch for the magazine business, newsstand sales and subscriptions declined in the last six months of 2009.

* A small group of West African men who came to the Rockies in search of economic opportunity are embroiled in a dispute with Wal-Mart Stores Inc (WMT.N), accusing it of a raft of discriminatory actions. Most say they were dismissed because supervisors wanted to give their jobs to local people in need of work.

* AstraZeneca (AZN.L) won approval Monday to promote its cholesterol fighting drug Crestor for preventing heart disease in a vast new market of people with healthy cholesterol but other heart risks.

* Electronic Arts Inc ERTS.O narrowed its net loss in the last quarter, but video game sales declined, and a disappointing outlook for the company sent its shares down sharply Monday.

* Strong sales of boys' brands including Transformers and Nerf helped the toymaker Hasbro Inc HAS.N post a better-than-expected fourth-quarter profit, sending its shares up more than 12 percent.

* CVS Caremark Corp (CVS.N), one of the nation's biggest drugstore operators, said on Monday that its profit rose 11 percent in the fourth quarter as results improved for its pharmacy benefits management business.

* A federal judge left open the possibility on Monday that he might reject a new $150 million settlement between the Securities and Exchange Commission and Bank of America Corp (BAC.N) over the bank's controversial takeover of Merrill Lynch, a move that could force the case to go to trial.

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