PRESS DIGEST- New York Times business news - May 16

Fri May 16, 2014 1:06am EDT

May 16 (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.

* Two indicators of economic health that the Federal Reserve has identified as keys to a stronger recovery - modestly higher inflation and a more robust job market - finally seem to be moving in the right direction, according to new data released by the government on Thursday. Economists said a rise in the Consumer Price Index in April suggest a broader economic firming is underway after a weak, weather-plagued start to 2014. (r.reuters.com/waf49v)

* Federal judge Steven Rhodes, who is handling Detroit's bankruptcy, indicated on Thursday that the current timetable for finishing the case might be unrealistic given the many disputes outstanding. He made the observation in a hearing after saying he had heard that the state had promised to give Detroit some money - but only if the city could get him to approve its bankruptcy exit plan by the end of September. (r.reuters.com/xaf49v)

* PepsiCo Inc will unveil a range of new self-serve equipment for dispensing drinks in places like restaurants, movie theaters and college dining halls on Saturday at the National Restaurant Association Show. (r.reuters.com/bef49v)

* A day after The New York Times Company announced that it had dismissed Jill Abramson, The Times's first female executive editor, it found itself mired in controversy, having to reassure employees and rebut reports that her removal was related to her complaints about receiving less pay than her male predecessors. (r.reuters.com/def49v)

* Investors in Chipotle Mexican Grill voted overwhelmingly against the company's executive compensation plans, sending a strong rebuke to a company that had awarded more than $300 million to its co-chief executives in recent years. Though the vote is non-binding, Chipotle said it was taking investor sentiment into consideration. (r.reuters.com/gef49v)

* General Motors Co on Thursday announced a recall for 2.7 million vehicles, bringing the number of vehicles recalled this year by G.M. in the United States to nearly 11.2 million and 12.8 million worldwide. (r.reuters.com/hef49v)

* A Senate panel approved legislation on Thursday to wind down Fannie Mae and Freddie Mac and reshape the mortgage finance system. However, sparse support among Democrats means the measure is unlikely to become law. (r.reuters.com/nef49v) (Compiled by Ankush Sharma in Bangalore)

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