PRESS DIGEST - New York Times business news - Aug 6

Aug 6 (Reuters) - The following were the top stories in the New York Times business pages on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

* Oil prices touched a three-month low on Tuesday, the latest milestone in a steep reversal for commodity prices that sent stocks soaring and eased inflation concerns among investors and policy makers alike.

* In a season of roller-coaster energy costs, the drop in oil and natural gas prices in recent days was greeted as good news. But they remain so high that experts are predicting that heating bills this winter will far exceed those of last year.

* Federal prosecutors have charged 11 people with stealing more than 41 million credit and debit card numbers, cracking what officials said on Tuesday appeared to be the largest hacking and identity theft ring ever exposed.

* A criminal gang is using software tools normally reserved for computer network administrators to infect thousands of PCs in corporate and government networks with programs that steal passwords and other information, a security researcher has found.

* Faced with an aging population, much of Europe is trying to address the pressing need for change in national pension systems, balancing rising costs with political pressure.

* Five Yahoo Inc (YHOO.O) directors, including Jerry Yang, the chief executive, were re-elected to the board with much higher protest votes than previously reported, indicating strong shareholder dissatisfaction with the company's performance and its failed merger negotiations with Microsoft Corp (MSFT.O).

* News Corp NWSa.N on Tuesday reported sharply higher income for the last quarter and the fiscal year ended June 30, as asset sales and improved performance by Fox News Channel and the company's Italian satellite television service more than offset losses on the start-up Fox Business Network.

* Cisco Systems Inc (CSCO.O), the largest maker of networking equipment, reported that its net income in the fourth quarter rose 4.4 percent, to $2 billion, from a year ago.

* Whole Foods Market Inc (WFMI.O) on Tuesday announced that it would suspend its quarterly dividend and curb its expansion plans because a weak economy had significantly slowed sales growth at its stores.

* Google Inc (GOOG.O) is introducing a free service, intended for marketers, but which will allow anyone to track the popularity of various terms in Google's search engine.

* Fresh off the completion of its surprise $650 million acquisition of Newsday, Cablevision Systems Corp (CVC.N) said Tuesday that it was considering a variety of ways to reward investors. Among the options the company mentioned to improve shareholder value are regular dividends, a stock buyback plan and possible spinoffs of business units.

* A group, including Microsoft Corp (MSFT.O), has launched an initiative to distribute free software to personal computer owners to help them save on energy costs.

* Procter & Gamble Co (PG.N), flexing its brand strength in consumer products, reported a 33 percent jump in fourth-quarter profit Tuesday as it countered soaring energy and commodity costs with higher prices.