PRESS DIGEST- New York Times business news - Nov 1

Fri Nov 1, 2013 12:42am EDT

Nov 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.

* Google has spent months and millions of dollars encrypting email, search queries and other information flowing among its data centers worldwide. Facebook's chief executive said at a conference this fall that the government "blew it." And though it has not been announced publicly, Twitter plans to set up new types of encryption to protect messages from snoops. ()

* In an announcement at the company's office on Thursday, Google showed off an updated version of its Android mobile operating system, called "KitKat 4.4," that can search for information both on the web and some smartphone apps. ()

* Now that new insurance marketplaces are opening under the Affordable Care Act, insurance companies are canceling millions of individual plans that fail to meet minimum standards. ()

* Time Warner Cable lost 306,000 television subscribers in the third quarter, hurt by a contract dispute that resulted in a blackout of CBS programming. ()

* Rebuffing a strategy of diversification, the venture capital firm XPV Capital believes it can find success by developing expertise in one area. ()

* Riding a surge in demand for new fuel-efficient planes, Boeing said on Thursday that it would increase production of its top-selling 737 jets to 47 a month by 2017, from 38 now. ()

* The Container Store has raised $225 million in its initial public offering, after demand from potential shareholders prompted the company to seek even more in its market debut. ()

* A majority of Oracle shareholders demonstrated their opposition to the compensation of chief executive Lawrence Ellison on Thursday, voting against a non-binding resolution on the company's pay practices. ()

* Citigroup's financial strategy and solutions group takes stock of the growing wave of shareholder activism, and concludes that what was once primarily an American phenomenon is spreading abroad. ()

* Fannie Mae sued nine of the world's largest banks on Thursday, accusing them of colluding to manipulate interest rates and seeking more than $800 million of damages. In a complaint filed in Federal District Court in Manhattan, Fannie Mae, the government-controlled mortgage company, accused the banks of conspiring for many years to suppress the Libor, including during the 2008 financial crisis. ()

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