PRESS DIGEST-New York Times business news - Oct 25
Oct 25 (Reuters) - The following are the top stories on the New York Times business pages on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.
* Rajat Gupta, the former Goldman Sachs Group Inc director, was sentenced to two years in prison for leaking boardroom secrets to the former hedge fund manager Raj Rajaratnam.
* Visa Inc announced that it had named Charles Scharf, a former head of JPMorgan Chase & Co's vast retail arm, as chief executive, as Visa's current leader prepares for retirement next year.
* Boeing Co reported a third-quarter profit that was better than analysts had expected because of sharp increases in aircraft deliveries. It also raised its earnings forecast for 2012 for the third time.
* AT&T Inc says it is facing a temporary setback in growth partly because there aren't enough new iPhones to go around. But it still made a solid profit in the latest quarter, and along with its main rival, Verizon Wireless, remains a dominant force in the American wireless industry.
* On Wednesday, federal prosecutors in New York accused Bank of America Corp of carrying out a scheme, started by its Countrywide Financial unit, that defrauded government-backed mortgage agencies by churning out loans at a rapid pace without proper controls.
* Officials of Medtronic Inc, the medical device maker, edited studies by outside researchers about a controversial spine treatment sold by the company, inserting claims that their product was superior to a competing one, according to a Senate finance committee report.
- Washington, DC city council raises minimum wage to $11.50/hr in 2016
- India trims perks for U.S. staff in row over New York envoy arrest
- China confirms near miss with U.S. ship in South China Sea
- Mega Millions lottery winning tickets sold in California, Georgia |
- UPDATE 5-Mega Millions lottery winning tickets sold in California, Georgia -Officials