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PRESS DIGEST- New York Times business news - Feb 11
February 11, 2014 / 6:11 AM / 4 years ago

PRESS DIGEST- New York Times business news - Feb 11

Feb 11 (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.

* Mary Barra, chief executive of General Motors Co, will earn as much as $14.4 million in compensation during her first year on the job, the company said on Monday. ()

* What was once the world’s largest Bitcoin exchange, Mt. Gox, appeared near collapse on Monday, the latest symbol of the woes facing early players in the world of virtual currencies. A few days after cutting off withdrawals for customers, Mt. Gox said on Monday that its problems were a result of a more fundamental flaw in the computer program that underlies Bitcoin.

* Kohlberg Kravis Roberts is closing two mutual funds less than two years after it started them, a setback for the private equity giant as it looks to attract smaller investors. ()

* The court-appointed monitor in the Apple e-book price-fixing case can get back to work. A federal appellate court on Monday rejected Apple’s request to stay the monitor, Michael Bromwich, a Washington lawyer, from doing any more work pending the outcome of its challenge to a judge’s earlier order appointing the monitor in the first place. ()

* According to a lawsuit filed against the Justice Department on Monday, the crucial details of the $13 billion settlement deal with JPMorgan Chase were for the government’s eyes only. The lawsuit filed by Better Markets, a nonprofit group critical of Wall Street, challenged the constitutionality of the deal, a landmark settlement stemming from accusations that JPMorgan overstated the quality of mortgage securities it sold before the financial crisis. ()

* Goldman Sachs Group on Monday named Ashok Varadhan as co-head of the securities division, a significant promotion that has in the past paved the way to the bank’s upper echelons for other top-ranking executives. ()

* After six months of urging Apple Inc to pay out more money to shareholders, the billionaire Carl Icahn dropped his effort on Monday. His decision came after strong opposition from other big investors and an influential shareholder advisory firm. Still, Icahn may have prevailed in the end anyway, as Apple continued to emphasize returning money to investors. ()

* More people have gone to work during the past three months than at any time in decades. Those same three months have seen fewer jobs created than during any similar stretch in more than a year. ()

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