PRESS DIGEST- New York Times business news - May 1
May 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.
* With the Republican-led filibuster of a Senate proposal to raise the federal minimum wage to $10.10 on Wednesday, Democrats moved swiftly to frame the vote as an example of the gulf that exists between the two parties on matters of economic fairness and upward mobility. (r.reuters.com/xad98v)
* Facebook Inc announced on Wednesday that when its 1.3 billion users log in to other websites or mobile apps through their Facebook identities, they will be able to limit what they reveal to the site or app to just their email addresses and public profile information, like name and gender. (r.reuters.com/wad98v)
* A federal regulator confirmed on Wednesday that the country's biggest banks committed widespread errors in dealing with homeowners who faced foreclosures at the height of the mortgage crisis, but the findings are unlikely to put to rest questions from lawmakers and others about the extent of the problems. (r.reuters.com/zad98v)
* The Federal Reserve continued to retreat from its stimulus campaign on Wednesday, saying it was looking past the economic slowdown during an unusually cold winter because growth already was rebounding. (r.reuters.com/bed98v)
* The utility operator Exelon Corp agreed on Wednesday to buy Pepco Holdings Inc for $6.8 billion in a bid to strengthen its operations on the East Coast. Under the terms of the deal, Exelon will pay $27.25 a share in cash, nearly 20 percent above Pepco's closing share price on Tuesday. (r.reuters.com/ced98v)
* The Federal Communications Commission's chairman delivered a tough message to cable and broadband executives Wednesday, saying a lack of competition in their industry has hurt consumers. The chairman, Tom Wheeler, said that the FCC intended to address the problem by writing tough new rules to enforce so-called net neutrality, preventing big broadband and cable companies from blocking access to innovative new technologies and start-ups that might emerge as competitors. (r.reuters.com/jed98v) (Compiled by Arnab Sen in Bangalore; Editing by Richard Pullin)