PRESS DIGEST-New York Times business news - Nov 27
Nov 27 (Reuters) - The following are the top stories on the New York Times business pages on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.
* The Lehman estate agreed on Monday to sell Archstone, a sprawling apartment complex company, to its two biggest real estate rivals - Equity Residential, a company run by the investor Samuel Zell, and AvalonBay Communities - for about $6.5 billion in cash and stock.
* In a surprising departure from convention, the British government on Monday selected Mark Carney, the head of the Canadian central bank, to succeed Mervyn King as the next governor of the Bank of England. ()
* Britain's Financial Services Authority fined UBS 29.7 million pounds ($47.59 million) on Monday for failing to prevent a $2.3 billion loss caused by a former trader. ()
* The decision to step down by Mary Schapiro, who overhauled the Securities and Exchange Commission after the financial crisis, follows a bruising tenure. Schapiro spent four years at the SEC trying to shake the regulator's past. ()
- White House reverses, says Obama met uncle and lived with him during law school
- Flights delayed as air pollution hits record in Shanghai
- South Africa mourns Mandela, will bury him on December 15 |
- Analysis: Boeing bidders dangle goodies to win 777X jetliner
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image