PRESS DIGEST-New York Times business news - July 26
July 26 (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.
* Federal authorities have delivered a crippling blow to one of Wall Street's most successful firms, SAC Capital Advisors, which has drawn government scrutiny for more than a decade. ()
* Halliburton Co has agreed to plead guilty to destruction of critical evidence after the Gulf of Mexico spill in 2010. The oil services company will pay the maximum allowable fine and be subject to three years of probation, the Justice Department said. ()
* Five Eastern European computer programmers were charged by the United States attorney in New Jersey with hacking into the servers of more than a dozen large American companies and stealing 160 million credit card numbers in what the authorities called the largest hacking and data breach case ever. ()
* Fabrice Tourre's legal team worked to rehabilitate his image in court on Thursday, trying to show a sympathetic side of the ex-trader. ()
* The choice of who will succeed Ben Bernanke to lead the Federal Reserve is roiling Washington as it revives questions about the dearth of women in its top economic policy positions. ()
* Top leaders of the A.F.L.-C.I.O., the nation's main federation of labor unions, on Thursday called on President Obama and the Congress to offer an immediate financial infusion to Detroit, which last week became the largest American city ever to file for bankruptcy. ()
* Three academics set out to see whether there were any clear differences between chief executives of companies where fraud was committed and chiefs of similar companies where fraud did not take place - or at least where it was never detected. And they found evidence that those who are willing to violate other rules are also more willing to violate securities laws.()
* Amazon's razor-thin profits turned to razor-thin losses in the last quarter, as the Internet commerce giant continued to plow money into warehouses, digital content and other big investments that it says will pay off down the line. ()
* A senior Democrat has proposed that the United States seek stronger trade agreements that would better protect the economy.
- Malaysia air probe finds scant evidence of attack: sources |
- Search widened as Malaysia air probe finds scant evidence of attack |
- Exclusive: Chinese raw materials also found on U.S. B-1 bomber, F-16 jets
- Confrontation in Ukraine as diplomacy stalls |
- Freescale loss in Malaysia tragedy leads to travel policy questions