PRESS DIGEST- New York Times business news - July 23

July 23 Wed Jul 23, 2014 2:22am EDT

July 23 (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.

* President Obama, citing a "skills gap" that prevents many unemployed workers from qualifying for new jobs, signed legislation on Tuesday to strengthen federal job-training programs. The new law seeks to impose more accountability on the federal-state training partnerships by requiring a "job-driven checklist" to ensure that federal money is used effectively and by providing data-driven tools to give workers better information about career prospects. (nyti.ms/1sOqeFL)

* On Tuesday, U.S. small-business lender CIT Group Inc said it would acquire the bank that rose from IndyMac's ashes - OneWest Bank Group LLC - paying $3.4 billion in cash and stock to its hedge fund and private equity owners. The deal illustrates how casualties of the financial crisis have moved on, and even prospered. (nyti.ms/1udFCNx)

* Despite widespread anger over the Malaysia Airlines plane's downing, European nations have shied away from measures that would further isolate Russia. At a meeting in Brussels, foreign ministers of the European Union's 28 member states agreed to draw up a new, broader list of targets for sanctions, including Russian individuals and entities, said Catherine Ashton, the European Union's foreign affairs chief. (nyti.ms/1nSXB2c)

* State attorneys general must investigate, and consider taking legal action against, e-cigarette companies that appear to be using some of the same advertising tactics that once drew young adults into smoking, a Kentucky deputy attorney general told his law enforcement colleagues gathered in Park City, Utah for a retreat to discuss emerging legal issues in states nationwide. (nyti.ms/1ty37g8)

* Top properties in Hong Kong are resisting market forces. While cooling measures have affected most real estate, the very rich are holding onto the city's most expensive homes.(nyti.ms/1txRxBv)

* For Apple Inc, the iPhone continues to be the device that makes the company tick. While top rivals like Samsung Electronics are starting to show weakness in phone sales, Apple sold 35.2 million iPhones in the third fiscal quarter, up 13 percent from the period a year ago. (nyti.ms/1p8NIic)

* Microsoft Corp Chief Executive Satya Nadella said the two most important trends for the company's future are mobile and cloud computing. But it is much better in cloud computing than in mobile. (nyti.ms/1lsY4Iv)

* Chrysler Group LLC said on Tuesday that it was recalling an undisclosed number of older Jeep SUVs to correct an ignition-related stalling problem similar to the flaw that has consumed General Motors Co this year. The recall could potentially cover 792,300 Jeep Commanders and Grand Cherokees worldwide that were manufactured between 2005 and 2007. (nyti.ms/1nSQK8W)

* Deutsche Bank AG's primary regulator in the United States, the Federal Reserve Bank of New York, has found serious problems with the bank's financial reporting procedures and oversight. (nyti.ms/1yZyoLQ)

* LinkedIn Corp made its second acquisition in as many weeks, agreeing to buy the marketing firm Bizo for about $175 million. Last week, LinkedIn bought Newsle, a start-up that searches the Internet for relevant articles. (nyti.ms/1rqTEI5) (Compiled by Rama Venkat Raman in Bangalore)