PRESS DIGEST-New York Times business news - May 1
May 1 (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.
* Despite its extraordinarily flush balance sheet, technology behemoth Apple Inc borrowed money on Tuesday for the first time in nearly two decades. In a record-size bond deal, the company raised $17 billion, paying interest rates that hovered near the low-cost debt of the United States Treasury. ()
* U.S. President Barack Obama is expected on Wednesday to nominate Tom Wheeler, a venture capital investor and fund raiser in Obama's presidential campaigns, as chairman of the Federal Communications Commission, two administration officials said Tuesday. ()
* Wall Street bankers and some of the world's top finance ministers are waging a bitter international campaign to block Washington financial regulators from extending their policing powers far beyond the nation's shores. ()
* The outspoken chief executive of SoftBank went on the offensive on Tuesday, arguing that his $20 billion offer for Sprint Nextel would prevail unmodified over a bold competing bid made by Charles W. Ergen's Dish Network. ()
* Earnings at Pfizer, one of the largest drug makers, soared 53 percent as the company benefited from a gain related to a joint venture with China. But the results fell short of Wall Street expectations, and the company lowered its forecast for the year. ()
* NewSchools Venture Fund, a nonprofit that started out channeling philanthropic donations to charter schools and that now invests in a range of education groups and businesses, is entering into a partnership with a new venture capital fund that could result in millions more in financing. ()