PRESS DIGEST- New York Times business news - Nov 26

Tue Nov 26, 2013 12:34am EST

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Nov 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.

* Security experts say they believe that government spies hit the big Internet companies at a weak spot - the fiber-optic cables that connect their data centers. ()

* As Walmart enters a fiercely competitive holiday season while still hampered by sluggish sales, the company's board announced on Monday that Michael Duke, its chief executive, would retire early next year and a longtime executive, C. Douglas McMillon, would replace him. ()

* Orrick, Herrington & Sutcliffe and Pillsbury Winthrop Shaw Pittman were in advanced merger talks that would have created one of the country's ten largest firms with about 1,700 lawyers. But on Monday, the firms issued a joint statement that the deal was off. ()

* Chrysler will not move forward with an initial public offering until next year at the earliest, giving its parent company, Fiat, more time to negotiate the purchase of a 41.5 percent stake held by a union health care trust. ()

* One of the top executives at Nasdaq OMX, Eric Noll, is leaving the company to lead the brokerage firm ConvergEx Group. ()

* Patients injured by a flawed hip implant sold by Johnson & Johnson have directed their anger at myriad places over the years. The regulatory system that allowed the product's sale. The company that repeatedly denied problems with the device. Even the doctors who implanted the hips. Now, some patients have found a new target for their ire: the legal system and the lawyers they hired to sue Johnson & Johnson. ()

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