PRESS DIGEST - New York Times business news - June 11
June 11 (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.
* Treasury Secretary Henry Paulson said Tuesday that the United States-China relationship is "growing in a positive direction," but he said he would press during talks next week for a more open Chinese economy.
* Tens of thousands of demonstrators filled central Seoul on Tuesday to protest South Korea's decision to resume imports of American beef, hobbling the administration of the country's new president and threatening his efforts to improve relations with the United States.
* There is a growing sense among investors that the Fed has shifted its focus to the fight against inflation, leaving behind - for now - concerns about the outlook for economic growth.
* XTO Energy Inc (XTO.N) agreed on Tuesday to buy Hunt Petroleum Corp for nearly $4.2 billion in cash and stock, adding some profitable oil and gas wells to its portfolio.
* The British Bankers' Association announced the most significant changes yet to its benchmark lending rate, bowing to criticism over the reliability of the widely used method of setting the cost of debt.
* Global oil demand is expected to grow at a slower pace than previously expected this year as a result of record prices and shrinking subsidies in some emerging countries, a leading energy forecaster said on Tuesday.
* Bank of America Corp (BAC.N) is selling its prime brokerage operation to BNP Paribas (BNPP.PA) for around $300 million after a six-month bidding process, according to people briefed on the deal.
