PRESS DIGEST-New York Times business news - April 4

April 4 Thu Apr 4, 2013 2:51am EDT

April 4 (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.

* The International Monetary Fund said on Wednesday that it would contribute 1 billion euros ($1.28 billion), or about 10 percent, of a bailout package for Cyprus but stipulated that the country would need to take tough measures to overhaul its beleaguered economy. ()

* In a ruling on Tuesday, U.S. Judge Jed Rakoff dismissed claims from Dexia SA, a Belgian-French bank that had sued JPMorgan Chase & Co over losses on $1.6 billion in 65 residential mortgage investments, according to court documents. ()

* Private consultants and U.S. federal regulators are facing a fresh round of scrutiny in Washington after botching a broad review of foreclosures and failing to thwart financial misdeeds. ()

* Monsanto Co, the world's largest seed company, raised its full-year profit forecast on Wednesday after reporting better-than-expected earnings in its second quarter, driven by strength in its global corn and herbicide businesses. ()

* Facebook Inc is expected to introduce a Facebook-centric phone - made by HTC, powered by Google Inc's Android operating system - on Thursday that is intended to help increase its profit overseas. ()

* Samsung Electronics Co Ltd said it would open 1,400 mini-stores this summer inside Best Buy Co Inc stores across the United States. Each store will include customer support for Samsung products, similar to the Genius Bar at Apple Inc stores. ()

* Lululemon Athletica Inc, the Canadian yoga wear maker, said on Wednesday that its chief product officer was stepping down, as it updated the production problems it has had with see-through pants. ()

* Long known as a difficult place to do business, Moscow is making a major effort to encourage banks, insurance companies and law firms that deal with securities to expand there. ()

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.