June 22 The following were the top stories on
the New York Times business pages on Friday. Reuters has not
verified these stories and does not vouch for their accuracy.
- Moody's Investors Service, which had warned banks that a
downgrade was possible, cut credit scores to new lows to reflect
changes in the industry since the financial crisis.
- The Securities and Exchange Commission has opened an
investigation into Nasdaq for its role in the initial
public offering of Facebook, according to people briefed
on the inquiry.
- Euro area countries must share debt and use rescue funds
to recapitalize troubled banks directly to ensure the survival
of the currency union, Christine Lagarde, the managing director
of the International Monetary Fund, said late Thursday.
- To resolve a class-action suit, Facebook has agreed
to give its users the choice to avoid potentially appearing in
advertisements just for clicking the social network's like
- The Supreme Court on Thursday declined to address whether
the government still has the authority to regulate indecency on
broadcast television, but it ruled in favor of two broadcasters
who had faced potential fines for programs featuring cursing and
nudity on narrow grounds.
- John Bryson announced his resignation as President Obama's
commerce secretary on Thursday following an incident in which he
had a seizure and was involved in a sequence of automobile
- Is the music industry like other businesses, and thus
subject to concerns about market concentration, or is it an
anomaly in which nothing matters but hits?
That was one of the central questions on Thursday at a
Senate hearing about a proposed $1.9 billion deal in which the
Universal Music Group would acquire the record labels of EMI.
- The United States Supreme Court on Thursday overturned an
$18 million penalty against pipeline operator Southern Union for
illegally storing mercury, ruling that a jury must determine any
facts that increase a defendant's maximum potential sentence,
even a criminal fine.
- Anna Schwartz, a research economist who wrote monumental
works on American financial history in collaboration with the
Nobel laureate Milton Friedman while remaining largely in his
shadow, died on Thursday at her home in Manhattan.
- No one is sure what would happen to programs meant to help
the uninsured get medical care if the Affordable Care Act were
to be struck down by the Supreme Court.