PRESS DIGEST- New York Times business news - July 11

July 11 Fri Jul 11, 2014 12:45am EDT

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July 11 (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 presence of at least three under-age workers at a Shinyang Electronics factory casts a cloud over the labor practices of Samsung Electronics and its suppliers. (nyti.ms/1njCsmr)

* Shares of Portugal's second-largest bank, Banco EspĂ­rito Santo, were suspended from trading, prompting fears that the bank might need to be rescued. The move sent high-flying stocks and bonds in Portugal plummeting, forced two Spanish companies to suspend bond offerings and brought concerns over the health of Europe's banking system. (nyti.ms/1zsSIXm)

* Questcor Pharmaceuticals, recipient of a $5.6 billion takeover bid, disclosed that the number of patients reporting a so-called adverse event while using its immune-system drug Acthar last year represented almost 5 percent of prescriptions dispensed. (nyti.ms/1qPsham)

* An essay sent to Microsoft Corp's employees by the company's chief executive appears to lay the groundwork for significant changes that will be revealed later this month. (nyti.ms/1ooKQ0l)

* With refining eroding into a money-losing area for most European players, Exxon Mobil is making a contrarian bet by expanding diesel production. (nyti.ms/TWg4DI)

* The Federal Trade Commission contended that Amazon improperly billed customers for "many millions of dollars" of charges that children made without their parents' consent. (nyti.ms/TWg6eF)

* Lockheed Martin and two of its biggest suppliers agreed on Thursday to invest up to $170 million of their own money to help lower the high cost of the new F-35 fighter jets. The deal lets the Pentagon shift a small part of the risk to the contractors as it grapples with continuing problems on the giant program, which could cost nearly $400 billion for 2,400 planes.(nyti.ms/1rcUrv3) (Compiled by Supriya Kurane in Bangalore)

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