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PRESS DIGEST-New York Times business news - Oct 25
October 25, 2012 / 6:05 AM / 5 years ago

PRESS DIGEST-New York Times business news - Oct 25

Oct 25 (Reuters) - The following are the top stories on the New York Times business pages on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.

* Rajat Gupta, the former Goldman Sachs Group Inc director, was sentenced to two years in prison for leaking boardroom secrets to the former hedge fund manager Raj Rajaratnam.

* Visa Inc announced that it had named Charles Scharf, a former head of JPMorgan Chase & Co’s vast retail arm, as chief executive, as Visa’s current leader prepares for retirement next year.

* Boeing Co reported a third-quarter profit that was better than analysts had expected because of sharp increases in aircraft deliveries. It also raised its earnings forecast for 2012 for the third time.

* AT&T Inc says it is facing a temporary setback in growth partly because there aren’t enough new iPhones to go around. But it still made a solid profit in the latest quarter, and along with its main rival, Verizon Wireless, remains a dominant force in the American wireless industry.

* On Wednesday, federal prosecutors in New York accused Bank of America Corp of carrying out a scheme, started by its Countrywide Financial unit, that defrauded government-backed mortgage agencies by churning out loans at a rapid pace without proper controls.

* Officials of Medtronic Inc, the medical device maker, edited studies by outside researchers about a controversial spine treatment sold by the company, inserting claims that their product was superior to a competing one, according to a Senate finance committee report.

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