PRESS DIGEST- New York Times business news - Sept 20
Sept 20 (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.
* As the favorite to succeed Ben Bernanke to lead the U.S. Federal Reserve, Janet Yellen faces no shortage of hurdles. The first would be to win confirmation from the Senate - an obstacle that doomed the previous front-runner for the job, Lawrence Summers. While Yellen faces much less potential opposition than Summers did, the White House is not taking Senate approval for granted. ()
* The Obama administration has decided to revive a controversial clean energy loan guarantee program at the Energy Department, administration officials said on Thursday, even as the program remains under Congressional scrutiny after losing hundreds of millions in taxpayer money on investments in failed green energy start-ups like the solar module maker Solyndra. ()
* Even as regulators on Thursday announced a settlement over the "London whale" trading loss, JPMorgan's board members had a pressing question about regulatory problems that have dogged the bank for more than a year: are we done yet? JPMorgan Chase & Co emerged from the financial crisis healthier and more profitable than its rivals, but in just 18 months it has swung from Washington's favorite bank to financial punching bag. The bank is now facing scrutiny from at least seven federal agencies, several state regulators and two foreign nations. ()
* A year after a plan by President Obama to limit greenhouse gas emissions from new power plants set off angry opposition, the administration will announce on Friday that it is not backing down from a confrontation with the coal industry and will press ahead with enacting the first federal carbon limits on the nation's power companies. ()
* New York Times Co announced on Thursday that it would pay a quarterly dividend to its shareholders for the first time in five years. The company's board voted to approve a dividend of 4 cents a share to all shareholders of record as of Oct. 9. It will be paid on Oct. 24, the week before the Times announces its third-quarter earnings. The Times has not paid a dividend since December 2008. ()
* Sales of existing houses climbed 1.7 percent in August to a 6-1/2-year high, and factories grew busier in the mid-Atlantic region this month, providing signs that rising borrowing costs are weighing only modestly on the economy. ()
* FireEye, a provider of cybersecurity software, priced its initial public offering on Thursday at $20 a share, handily beating expectations. Earlier this week, the company raised its price range to $15 to $17 a share. ()
* Rocket Fuel, an advertising technology company that relies on artificial intelligence, priced its initial public offering on Thursday at the top of its expectations, garnering $116 million in proceeds. The company sold 4 million shares at $29 each, the high end of an already raised range. The stock sale values it at $942.5 million. ()
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