March 4 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.
* Experts estimate so-called budget sequestration could cost
the United States about 700,000 jobs, but Wall Street doesn't
expect the cuts to substantially alter corporate profits or
threaten stock markets.
* Some of the biggest U.S. banks, such as Citigroup
and JP Morgan Chase & Co, wrongfully foreclosed on more
than 700 military members during the housing crisis and seized
homes from roughly two dozen other borrowers who were current on
their mortgage payments, findings that eclipse earlier estimates
of the improper evictions.
* Swiss citizens voted Sunday to impose some of the world's
most severe restrictions on executive compensation, ignoring a
warning from the business lobby that such curbs would undermine
the country's investor-friendly image.
* Internet companies like Microsoft Corp and
Facebook Inc are trying to gain market advantage by
casting themselves as more privacy-friendly than their rivals.
For example, Mozilla, an underdog in the browser market,
suggested last week that it would allow its users to disable
third-party tracking software altogether.
* Motives for a Chinese cyberattack against Telvent, a
company that monitors more than half the oil and gas pipelines
in North America, which could range from industrial spying to
disabling the power grid, remain obscure.
* British newspaper "the Guardian" is hoping to increase
American readership with an advertising campaign exploring
controversial American topics, such as women in the military,
Internet privacy and gun control, through graphics.
* Vice, a Brooklyn media company, approached television
network HBO with the idea of arranging a trip to North Korea
that centered on basketball, a sport that the nation's leader,
Kim Jong-un, loves.