REFILE-PRESS DIGEST- New York Times business news - April 8

Tue Apr 8, 2014 2:21am EDT

(Corrects to add link to the source material for the eighth item)

April 8 (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.

* The stock market fell again on Monday, extending a sharp sell-off that began last week. Biotechnology and internet stocks pulled the market lower on Friday, and it was companies that sell consumer discretionary goods and services that drove down the market this week. (link.reuters.com/kas38v)

* Comcast Corp's $45 billion deal with Time Warner Cable Inc will come up for its first Senate hearing this Wednesday. U.S. regulators are likely to focus on how the merger will affect the market for high-speed Internet, also known as broadband, and how it will affect cable TV service. (link.reuters.com/zyr38v)

* Questcor Pharmaceuticals Inc said it will be bought by Mallinckrodt Pharmaceuticals for about $5.6 billion in cash and stock. Based on the closing price of Mallinckrodt shares last Friday, the deal is worth $86.08 per share, representing a 27 percent premium to Questcor's Friday close. (link.reuters.com/mas38v)

* Citigroup Inc will pay $1.13 billion to settle claims by investors who demanded that it buy back billions in residential mortgage-backed securities. The bank said on Monday that it has reached a pact with 18 institutional investors to make a binding offer to the trustees of 68 Citi-sponsored trusts that bundled some $59.4 billion in home loans into securities from 2005 to 2008. The offer - subject to approval by trustees and the court - would release Citi from having to buy back mortgages sold to the trusts. (link.reuters.com/cas38v)

* The Laclede Group said it will buy Energen Corp's natural gas utility in Alabama in a deal valued at about $1.6 billion. Laclede is paying $1.28 billion in cash and assuming about $320 million in debt. (link.reuters.com/ras38v)

* The Manischewitz Company, whose matzo and gefilte fish are a staple of Seder tables around the world, is expected to announce on Tuesday that it has been sold to Sankaty Advisors, an arm of private equity firm Bain Capital. The deal may help the 126-year-old company expand beyond the kosher aisle. (link.reuters.com/jas38v)

* SAC Capital Advisors has changed its name to Point72 Asset Management. The retirement of the SAC name happened quietly over the weekend. SAC's old website is no longer accessible. The new site which went live on Monday afternoon, is fairly minimalistic. (link.reuters.com/sas38v)

* Financial journalist Michael Lewis' new book, "Flash Boys: A Wall Street Revolt" has revived a debate on taxing financial transactions. Supporters argue that the tax would reduce risk and volatility in the market and would also raise revenue for public coffers. (link.reuters.com/nes38v)

* The World Wrestling Entertainment said on Monday its subscription-only streaming video service is showing strong support among its core audience, but reaction from Wall Street investors was less enthusiastic when the company's stock dropped 14.7 percent on Monday. The company expects to exceed one million subscribers within the next year. (link.reuters.com/gas38v) (Compiled by Ankush Sharma in Bangalore; Editing by Joyjeet Das)

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