PRESS DIGEST- New York Times business news - April 29

April 29 Tue Apr 29, 2014 1:12am EDT

April 29 (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 Federal Reserve is tiptoeing away from its economic stimulus campaign, and so far the broader economy has barely noticed. The Fed's policy-making committee, which meets on Tuesday and Wednesday, is widely expected to announce another $10 billion cut in its monthly bond purchases, to $45 billion, en route to ending the purchases this autumn. (r.reuters.com/vak88v)

* Pfizer Inc proposed on Monday a $99 billion acquisition of its British rival AstraZeneca Plc that would allow it to reincorporate in Britain. Doing so would allow Pfizer to escape the United States corporate tax rate and tap into a mountain of cash trapped overseas, saving it billions of dollars each year and making the company more competitive with other global drug makers. (r.reuters.com/wak88v)

* Covington & Burling LLP, the firm where Eric Holder practiced law before becoming attorney general, will announce on Tuesday that Mythili Raman is the latest former senior Justice Department official to join its ranks. Raman, who will be a partner in Covington's white-collar crime and litigation practices, led the Justice Department's criminal division until last month. (r.reuters.com/zak88v)

* Bank of America Corp disclosed on Monday that it had made a significant error in the way it calculates a crucial measure of its financial health, suffering another blow to its effort to shake its troubled history. The mistake, which had gone undetected for several years, led the bank to report recently that it had $4 billion more capital than it actually had. After Bank of America reported its error to the Federal Reserve, the regulator required the bank to suspend a share buyback and a planned increase in its quarterly dividend. (r.reuters.com/fek88v)

* A new government report suggests that errors made by banks and their agents during foreclosures might have been significantly higher than was previously believed when regulators halted a national review of the banks' mortgage servicing operations. (r.reuters.com/jek88v)

* Yahoo Inc Chief Executive Marissa Mayer announced on Monday evening that Yahoo is commissioning two original TV-length comedy series that will be shown exclusively on its websites and mobile apps. (r.reuters.com/xek88v)

* Toyota Motor Corp said on Monday that it would move thousands of employees from California and other locations to new North American headquarters in Texas as part of a broad effort to cut costs and streamline operations. (r.reuters.com/buk88v)

* As part of a routine effort to identify acquisition targets, the Walt Disney Co last year zeroed in on BuzzFeed, the fast-growing digital media company, but Disney's interest quickly dissipated when BuzzFeed valued itself at nearly $1 billion, according to a person with direct knowledge of the talks. (r.reuters.com/fuk88v)

* The Obama administration has begun a wide-ranging search for companies to run the online federal health insurance exchange, seeking new talent to prevent a repeat of problems that immobilized the website last fall. (r.reuters.com/nuk88v) (Compiled by Arnab Sen in Bangalore)

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