PRESS DIGEST-New York Times business news - Jan 14

Mon Jan 14, 2013 2:19am EST

Jan 14 (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.

* Citic Telecom International Holdings Ltd's stock rose as much as 18 percent on Monday in Hong Kong after an announcement on Sunday that it would pay $1.2 billion to Britain's Cable & Wireless Communications Plc and Portugal Telecom SGPS SA to acquire a further 79 percent of Companhia de TelecomunicaƧƵes de Macau. ()

* Google Inc has become one of the most prolific and popular developers of apps for the iPhone, in effect helping its competitor, Apple Inc, make more appealing products - even as relations between the companies have deteriorated. ()

* At an invitation-only gathering hours before the North American International Auto Show was scheduled to open for press previews, General Motors Co introduced the 2014 Corvette, the seventh generation of Chevrolet's hallmark sports car. ()

* The creators of "South Park" are branching out beyond the underpants business. Taking after the Gnomes on the animated series who ardently practice American capitalism, Trey Parker and Matt Stone have wooed investors and raised money to form their own production studio, which they plan to announce on Monday. ()

* Until recently, investors had been all too eager to pour millions into any web start-up with rapid growth, regardless of whether it made money or even had plans to do so down the road. But after Facebook Inc's rocky initial public offering and flameouts at Zynga Inc and Groupon Inc, venture capitalists are entering a picky phase. ()

* Economic growth remained sluggish and politics often intruded on the markets, yet stocks achieved solid returns last year all the same. The Standard & Poor's 500-stock index rose 13.4 percent for the year, even with a 1 percent decline in the fourth quarter. ()

* After a sharp economic slowdown through much of last year, China's economy is growing again - but not at its previous double-digit pace, and with signs that inflation might become a problem again. ()

* An investigation into work performed on the troubled $3.2 billion Croton water treatment plant in the Bronx, one of the New York city's largest public works projects, has uncovered fraud and other crimes that are expected to lead to criminal charges against two men, and a deferred prosecution agreement, according to people with knowledge of the case. ()

* Pharmacies around the New York city struggled to meet the demand for flu vaccinations on Sunday, a day after Governor Andrew Cuomo declared a public health state of emergency in response to a drastic increase in the number of flu cases this year. ()

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