PRESS DIGEST- New York Times business news - June 17

June 17 Tue Jun 17, 2014 12:27am EDT

June 17 (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 Supreme Court handed Argentina two major defeats on Monday in cases brought by bondholders who refused to accept reduced payments after the country's 2001 default. The developments are likely to add to the turmoil in Argentina's already unsettled bond market. (link.reuters.com/ceq22w)

* General Motors Co said on Monday that it would recall 3.36 million defective cars worldwide, another low point in the seemingly endless safety crisis that has engulfed the nation's largest automaker. (link.reuters.com/deq22w)

* In a broad legal rationale for collecting information from Internet use by its citizens, the British government has reportedly asserted the right to intercept communications that go through services like Facebook, Google and Twitter that are based in the United States or other foreign nations, even if they are between people in Britain. (link.reuters.com/heq22w)

* A new study claims a quarter of all public company deals may involve some kind of insider trading. The study by two professors at the Stern School of Business at New York University and McGill University, perhaps the most detailed and exhaustive of its kind, examined hundreds of transactions from 1996 through the end of 2012. (link.reuters.com/meq22w)

* Moelis & Co said on Monday that it has hired four executives from a rival boutique investment bank, Greenhill & Co Inc, to start up a group specializing in raising money for private equity firms. (link.reuters.com/neq22w) (Compiled by Sampad Patnaik in Bangalore)

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