PRESS DIGEST-New York Times business news - April 12
April 12 (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.
* Cyprus must soon raise 13 billion euros ($17 billion) - nearly twice the amount the government thought it would have to come up with just a month ago - to keep its debt and deficit from spinning out of control and to meet the terms of a 10 billion euro ($13.1 billion) international bailout. ()
* The number of Americans filing new claims for unemployment benefits fell more than expected last week, easing fears of a marked deterioration in the labor market after a surprise stumble in job growth in March. ()
* U.S. retailers reported that a benchmark sales figure rose slightly during the month as shoppers held back on spending because of cold weather across the nation, particularly in the Midwest and East Coast, and continued fears about the economy. ()
* A multibillion-dollar consulting industry came under the spotlight in Washington on Thursday, as lawmakers questioned the quality and independence of companies that guide banks through regulatory scrutiny. ()
* U.S. federal prosecutors revealed a brazen two-year insider trading scheme involving Scott London, a former senior partner at the accounting giant KPMG, and a longtime friend. ()
* J.C. Penney Co Inc has hired the Blackstone Group to help it raise cash, people briefed on the matter said on Thursday, as the embattled retailer seeks a turnaround after replacing its chief executive. ()