PRESS DIGEST- New York Times business news - May 27

Tue May 27, 2014 12:16am EDT

May 27 (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.

* On the final day for Pfizer Inc to decide whether to abandon the plan, it said it did not intend to make an offer for AstraZeneca Plc. Last week, the British company rejected what Pfizer had called its final offer. The cash-and-stock bid, which valued AstraZeneca at about $119 billion, would have created the world's largest drug company. (r.reuters.com/vaf69v)

* In a sign of the growing potential under the federal health care law, several insurers that have been sitting on the sidelines say they will sell policies on the new exchanges in the coming year, and others plan to expand their offerings to more states. (r.reuters.com/waf69v)

* Martin Lipton, the superlawyer, has advised hundreds of boards of directors in the midst of crises. Now, however, Lipton is grappling with a board governance crisis of his own. As chairman of New York University's board of trustees, Lipton has been dealing with revelations that the university's much-heralded new campus in Abu Dhabi might have been the product, in part, of rights abuses of foreign laborers. (r.reuters.com/xaf69v)

* Bill Gates, who as the richest American has become one of the foremost advocates of philanthropy, has reduced the pace of his own giving to the Bill & Melinda Gates Foundation over the last decade. After starting the foundation with gifts of $356 million from 1994 to 1997, Gates, the co-founder of Microsoft Corp, vastly expanded it into the nation's largest with a burst of gifts totaling $24.6 billion over the next four years. Since then, however, he has dialed back this giving. (r.reuters.com/cef69v)

* A law that allows the government to read email and cloud-stored data over six months old without a search warrant is under attack from technology companies, trade associations and lobbying groups, which are pressing Congress to tighten privacy protections. Federal investigators have used the law to view content hosted by third-party providers for civil and criminal lawsuits, in some cases without giving notice to the individual being investigated. (r.reuters.com/kef69v) (Compiled by Aurindom Mukherjee in Bangalore)

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