PRESS DIGEST-New York Times business news - July 24

July 24 Wed Jul 24, 2013 1:25am EDT

July 24 (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.

* Yahoo Inc's share buyback is legal, but timing is suspect. Daniel Loeb's exit from Yahoo raises the question of whether he was out to create true value - or stir the pot. ()

* Some witnesses warned a Congressional subcommittee that taxpayers, as well as the economy, could be vulnerable to banks' actions in the commodities market. ()

* The email habits of Stephen Cohen, the owner of SAC Capital Advisors, are at the heart of the government's civil charge against him, because his lawyers say he barely reads his messages. ()

* The government will announce in coming days the indictment of SAC Capital, the hedge fund led by the billionaire Steven Cohen, which could lead to the fund's demise. ()

* A legal battle over an obscure real estate investment trust called CommonWealth REIT lays bare the private world of Barry Portnoy, who oversees a $25 billion real estate empire stretching from Boston to Honolulu. ()

* At companies like PepsiCo Inc and Kellogg Co , white-coated lab technicians join with white-jacketed chefs to give consumers the taste they want with less salt, fat and sugar. ()

* The news on Tuesday was not particularly good for Apple Inc : revenue was flat, profit was lower, and even the sales of iPads were down. But strong iPhone sales helped beat the expectations of Wall Street. ()

* Telefónica said it will buy E-Plus of Germany from KPN in a cash-and-stock deal worth an implied $10.7 billion, coming amid signs of accelerating consolidation in Europe's telecommunications sector. ()

* First Focus, an advocacy group for child-friendly policies, will release on Wednesday its latest "Children's Budget," which shows how federal spending on children has declined more than 15 percent in real terms from its high in 2010, when the fiscal stimulus law raised spending on programs like Head Start and K-12 education. ()