PRESS DIGEST- New York Times business news - July 8

July 8 Tue Jul 8, 2014 1:24am EDT

July 8 (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.

* State and federal authorities have begun settlement talks with Commerzbank, Germany's second-largest lender, over the bank's dealings with Iran and other countries blacklisted by the United States, according to people briefed on the matter. (nyti.ms/1jjrlKw)

* In response to intelligence reports about plots being hatched by Al Qaeda's affiliate in Yemen, the United States has, for the first time, asked officials at more than a dozen foreign airports to confiscate from passengers any electronic devices that cannot be turned on. (nyti.ms/1thUOIO)

* Lenders Agree to Give Puerto Rico Electric Power Authority More Time to Repay Debt. The agreement to delay certain payments for three more weeks forestalls a possible restructuring by the Puerto Rico Electric Power Authority. (nyti.ms/1oD58WE)

* A group of technology companies led by Intel announced on Tuesday the formation of the Open Interconnect Consortium. The group, which also includes Atmel, Broadcom, Dell, Samsung and Wind River, will focus on creating an open-source standard for wirelessly connecting devices to one another and to the Internet. Like other open-source projects, the member companies pledge to donate intellectual property, or IP, that all members and others can work on and use. (nyti.ms/1kysb0D)

* General Motors has resisted recalling almost 1.8 million full-size pickup trucks and sport utility vehicles from the 1999 to 2003 model years for corrosion-related brake failures, saying the issue is one of maintenance. (nyti.ms/1zlGQGp) (Compiled by Sudarshan Varadhan in Bangalore)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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