October 21, 2013 / 4:39 AM / 4 years ago

PRESS DIGEST- New York Times business news - Oct 21

3 Min Read

Oct 21 (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 tentative $13 billion settlement between JPMorgan and the Justice Department was a result of extensive personal negotiations involving Attorney General Eric Holder and Jamie Dimon, the bank's chief executive. ()

* Mounting legal problems have so far left Jamie Dimon unscathed at the helm of JPMorgan Chase. On Sunday, several JPMorgan executives said, as they have for months, that the bank's board remains firmly behind Dimon, who is both chairman and chief executive. ()

* Norway's sovereign wealth fund is preparing to raise its voice on a sensitive topic: the increasing computerization of the stock markets and the costs it has imposed on big long-term investors. "The U.S. market has gone through a lot of changes and has become quite complicated - and this complexity of the market creates a lot of challenges for a large investor like us," said Oyvind Schanke, the global head of stock trading for the fund, Norges Bank Investment Management. ()

* Crown Castle International Co will buy the rights to run 9,100 towers for an average lease of 28 years, with the right to acquire the towers outright from AT&T Inc in the future for about $4.2 billion. Crown Castle will also buy about 600 towers outright. ()

* The producer Jason Blum's winning movie formula relies on profit-sharing, and he's thinking about applying it to television. Over the last five years, for production costs totaling a mere $27 million, his company, Blumhouse Productions, has churned out eight hit horror films - including "Paranormal Activity", "Sinister" and "The Purge" - that have taken in $1.1 billion at the worldwide box office. ()

* Genetic engineering to produce products that now come from rare plants holds great promise, but critics warn of harm to small farmers, among others. ()

* Experts involved in fixing the online health insurance marketplace say the technological problems are extensive. ()

* The intense competition in the market for tablets will be highlighted on Tuesday, as Apple Inc, Nokia and Microsoft Corp each introduce new devices. ()

* Ignazio Angeloni, a top European Central Bank official, has a leading role in reviewing euro zone banks to determine which are sound and which are not. ()

* Music industry's total digital sales are down almost 1 percent so far this year, and some in the industry cite the rise of streaming music services like Spotify and Pandora Media Inc . ()

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