PRESS DIGEST-New York Times business news - July 13

July 13 Fri Jul 13, 2012 2:19am EDT

July 13 (Reuters) - The following were the top stories on the New York Times business pages on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

* Despite the recent run of disappointing economic data, a broad range of experts and forecasters expect the U.S. economy to improve slightly in coming months, thanks to lower oil prices and new signs of life from sectors like automobiles and housing.

* When Timothy Geithner ran the Federal Reserve Bank of New York, he acknowledged fundamental problems with the process for setting key interest rates in the midst of the 2008 financial crisis, according to documents provided to the New York Times.

* As the founder of Peregrine Financial Group, Russell Wasendorf lies in critical condition in an Iowa City hospital, Peregrine's angry customers are asking, how could futures industry regulators have missed another potential fraud?

* HSBC Holdings Plc, the largest financial institution in Europe, has become the latest British bank to reveal major internal-control problems, saying that senior officials would apologise to United States lawmakers next week for not cracking down soon enough on money-laundering activities in America.

* China's growth slowed in the second quarter, adding to the worries about the ability of the world's second-largest economy to offset low growth elsewhere.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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