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PRESS DIGEST-New York Times business news - March 14
March 14, 2013 / 7:10 AM / 5 years ago

PRESS DIGEST-New York Times business news - March 14

March 14 (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.

* A federal judge has dealt a blow to the private equity industry, refusing to dismiss a lawsuit that accused firms of colluding to drive down the prices of corporate takeovers during the buyout boom, setting the stage for a possible trial in the five-year-old case.

* SandRidge Energy Inc said that it would expand its board by four seats, giving the new positions to TPG-Axon Capital. The company also said that it also would decide by June 30 whether to remove its chief executive, Tom Ward.

* Congressional investigators have summoned current and former top executives of JPMorgan Chase & Co, along with three regulators, to testify at a hearing on Friday on the bank’s multibillion-dollar trading loss.

* Across the United States, cities are showing a renewed interest in taking over the electricity business from private utilities, reflecting intensifying concerns about climate change, responses to power disruptions and a desire to pump more renewable energy into the grid.

* The New Mexico company, Valley Meat, seeking to become the first slaughter house for horses in the United States since 2007 drew complaints over a two-year period from federal inspectors and state regulators over its disposal of remains when it processed cattle for beef.

* Evaluations that Boeing Co conducted while the 787 jet was in development proved to be far off the mark in predicting what would happen when the plane was in use.

* An obscure tax strategy is the latest technique that private equity firms are using to extract money from their companies well after completing an initial public offering.

* Partly driven by an oversupply of cheaper panels from China, the U.S. domestic solar market had its best year in 2012, with the growth in installations outpacing that of the global market, according to an annual report by the Solar Energy Industries Association and GTM Research to be released on Thursday.

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