PRESS DIGEST- New York Times business news - Nov 13

Wed Nov 13, 2013 12:27am EST

Nov 13 (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.

* Nearly half of the members of the House of Representatives have signed letters signaling opposition to "fast track" authority for a trade pact with Pacific Rim nations. ()

* After months of setbacks and delays, the merger of American Airlines and US Airways to create the world's largest airline became all but certain on Tuesday after the airlines reached a settlement with the Justice Department just two weeks before a scheduled trial. ()

* President Obama nominated Timothy Massad, who oversaw the unwinding of the government's bailout program, to succeed Gary Gensler at the Commodity Futures Trading Commission. ()

* Johnson & Johnson has tentatively agreed to a settlement that could reach up to $4 billion to resolve thousands of lawsuits filed by patients injured by a flawed all-metal replacement hip, said two lawyers briefed on the plan. ()

* Mayor Michael Bloomberg on Tuesday insisted that Bloomberg News, which he owns, did not censor itself by killing two articles related to China. But he also asserted that, for at least a couple more months, he is not involved with the news service because of his role as mayor. ()

* Janet Yellen, President Obama's choice to lead the Federal Reserve over the next four years, has championed the idea that the Fed can stimulate the economy simply by speaking clearly. ()

* High-voltage, superfast public devices for recharging electric cars are appearing more frequently, though some are more expensive for drivers than home chargers, or even gasoline. ()

* Starbucks said on Tuesday that it would pay Kraft Foods $2.75 billion, ending a long-running spat over an agreement the two food titans had for distribution of Starbucks packaged coffee in grocery stores. ()

* Private bank consultants, long known as Wall Street's shadow regulators, are now facing some regulation of their own. The Office of the Comptroller of the Currency, which oversees some of the nation's biggest banks, announced on Tuesday that it had adopted some of the first federal standards governing the use of consultants. ()

* Hotel operator Extended Stay America priced its initial public offering on Tuesday at $20 a share, in the middle of its expected range. At that price, the company will have raised $565 million and will be valued at $4 billion. ()

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.