June 19 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.
* Ben Bernanke faces the growing challenge of shaping
investor expectations amid increasing signs that his era as
Federal Reserve chairman is ending.
* Google may have pushed the boundaries of
antitrust laws with its $1 billion buy of Israeli mapping
startup Waze and Google's effort to skirt regulation may invite
more scrutiny. ()
* The American Medical Association has officially recognized
obesity as a disease, a move that could induce physicians to pay
more attention to the condition and spur more insurers to pay
for treatments. ()
* In resisting calls to ban ads for nutritionally
questionable food, Nickelodeon argued that its job was
children's entertainment, not nutrition.
* Chrysler and National Highway Traffic Safety
Administration resolved their differences, and the automaker
will inspect and upgrade 2.7 million Jeep sport utility vehicles
for possible defects after the government had claimed they were
prone to catastrophic fires in rear-end collisions.
* Tom Wheeler, President Obama's nominee to head the Federal
Communications Commission told a Senate committee on Tuesday
that his top priorities, if he is confirmed, would be consumer
protection, increasing competition and providing sufficient
predictability so companies know what rulings to expect.
* Builders stepped up home construction in May and applied
for permits to build single-family homes at the fastest pace in
five years. The gains show housing remained a crucial source of
growth for the economy. Housing starts rose 6.8 percent in May,
to a seasonally adjusted annual rate of 914,000, the Commerce
Department said on Tuesday. ()
* A federal appeals court ruled that Anthony Chiasson, the
co-founder of Level Global Investors, and Todd Newman, a former
portfolio manager at Diamondback Capital Management, will not
have to report to prison while they fight their insider trading
* Federal and state regulators are united in their concern
that outside consulting firms have produced some shoddy work for
Wall Street banks.
Yet on Tuesday, the regulators took starkly divergent
stances toward the multibillion-dollar consulting industry:
while federal authorities seemed to reinforce the industry's
power, a state agency tried to undercut it.