PRESS DIGEST- New York Times business news - Aug 26

Tue Aug 26, 2014 12:43am EDT

Aug 26 (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.

* Amazon.com Inc said it would buy Twitch, the most popular website for watching people play games for $1 billion. To win in its bid for Twitch, Amazon had to outmaneuver a who's who of the tech world, including Google Inc, strongly suggesting that these companies think the era of video-game viewing is just starting. (nyti.ms/1t7O53I)

* The long fight over Hewlett-Packard Co's $11.1 billion purchase of Autonomy got a new wrinkle on Monday, which might spell more legal pressure on Autonomy executives. On Monday, Judge Charles Breyer of United States District Court in San Francisco said that HP and the lawyers suing the company must file a revised proposed settlement agreement. (nyti.ms/1p6dLG2)

* A group of hedge funds, including George Soros's Quantum Partners and Kyle Bass's Hayman Capital, is seeking a 226 million euro ($298.4) interest payment on Argentine bonds from Bank of New York Mellon that was blocked by a United States judge last month. (nyti.ms/1APjBEE)

* Ann Inc, the parent company of the Ann Taylor stores, is being pressed to explore options, including a sale by the activist investor Engine Capital and the hedge fund Red Alder. In a letter made public on Monday, Engine Capital and Red Alder said they believed that the company could be worth $50 to $55 a share to an acquirer, or a 33 to 46.5 percent premium to its stock price as of Friday.(nyti.ms/1BX8kmZ)

* A cashless society is still a long way off, but automated machines that turn traditional money into virtual currency are cropping up across the globe. The trend has come to New York - Flat 128, a retailer that sells British jewelry and accessories in the West Village, is home to the first such machine in Manhattan and is becoming a destination for Bitcoin enthusiasts. Yet this new Bitcoin ATM is only a means for users to deposit cash and convert it to Bitcoins for their accounts; it does not offer cash withdrawals. (nyti.ms/1t81YP6)

* DraftKings, a fantasy sports site, is expected to announce that it has raised $41 million in a new round of financing. The investment was led by the Raine Group, a merchant bank that specializes in media and technology deals, and included three existing investors Redpoint Ventures, GGV Capital and Atlas Venture. (nyti.ms/1pb2ydm)

* Governor Jerry Brown of California on Monday signed into law a measure that requires smartphones sold in California to include smarter antitheft technology, a feature that lawmakers hope will help reduce phone theft. The bill, introduced by State Senator Mark Leno and sponsored by George Gascon, San Francisco's district attorney, requires a so-called "kill switch", which would render a smartphone useless after it was stolen, to be included on all smartphones sold in California starting in July 2015. (nyti.ms/1t7Z0KK)

* Thousands of hours of television programming are becoming available to rerun on digital networks and cable channels after new residual agreements between studios and Hollywood's three largest guilds. The shows now freed from "residual gridlock" include old broadcast series like "Charlie's Angels" and "The Flying Nun" and newer made-for-cable programs like "Breaking Bad" and "Sons of Anarchy," according to John Weiser, president of United States distribution for Sony Pictures Television. (nyti.ms/1APmEwr) (1 US dollar = 0.7575 euro) (Compiled by Rishika Sadam in Bangalore)

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