PRESS DIGEST-New York Times business news - Feb 7
Feb 7 (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.
* Emails and employee interviews filed as part of a lawsuit show that JPMorgan Chase & Co flouted quality controls as it bundled mortgages into complex financial instruments.
* The Royal Bank of Scotland on Wednesday reached a combined $612 million settlement with American and British authorities over accusations that it manipulated interest rates, the latest case to emerge from a broad international investigation.
* U.S. federal regulators approved one flight of a Boeing 787, with a crew but no passengers, as engineers study ways to reduce the risks of another battery fire.
* Revenue from advertisements and subscription fees from Time Warner Inc's cable properties helped overcome a challenging quarter for the media conglomerate's publishing and movie divisions.
* Monte dei Paschi di Siena, an ancient Tuscan bank whose troubles have shaken Italian politics and caused jitters around the euro zone, on Wednesday confirmed earlier estimates of losses from a series of secret transactions that were used to conceal the scope of the bank's problems.
* GlaxoSmithKline Plc plans to cut costs in its struggling European drugs division and promised investors a return to growth this year, after failing to deliver a hoped-for recovery in sales and profits in 2012.
* Cravath, Swaine & Moore has hired David Kappos, the departing director of the United States Patent and Trademark Office, the second time the law firm has added a former senior Obama administration official to its partnership.
- Thousands of Gaza civilians flee after Israeli warning |
- Three dead, two wounded in Pasadena, California shootings
- Russia threatens Ukraine after shell crosses border
- Teen survivor of Texas shootings says slain family members 'in much better place'
- UPDATE 2-Thousands of Gaza civilians flee after Israeli warning