July 26 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.
* Federal authorities have delivered a crippling blow to one
of Wall Street's most successful firms, SAC Capital Advisors,
which has drawn government scrutiny for more than a decade. ()
* Halliburton Co has agreed to plead guilty to
destruction of critical evidence after the Gulf of Mexico spill
in 2010. The oil services company will pay the maximum allowable
fine and be subject to three years of probation, the Justice
Department said. ()
* Five Eastern European computer programmers were charged by
the United States attorney in New Jersey with hacking into the
servers of more than a dozen large American companies and
stealing 160 million credit card numbers in what the authorities
called the largest hacking and data breach case ever. ()
* Fabrice Tourre's legal team worked to rehabilitate his
image in court on Thursday, trying to show a sympathetic side of
the ex-trader. ()
* The choice of who will succeed Ben Bernanke to lead the
Federal Reserve is roiling Washington as it revives questions
about the dearth of women in its top economic policy positions.
* Top leaders of the A.F.L.-C.I.O., the nation's main
federation of labor unions, on Thursday called on President
Obama and the Congress to offer an immediate financial infusion
to Detroit, which last week became the largest American city
ever to file for bankruptcy. ()
* Three academics set out to see whether there were any
clear differences between chief executives of companies where
fraud was committed and chiefs of similar companies where fraud
did not take place - or at least where it was never detected.
And they found evidence that those who are willing to violate
other rules are also more willing to violate securities laws.()
* Amazon's razor-thin profits turned to razor-thin
losses in the last quarter, as the Internet commerce giant
continued to plow money into warehouses, digital content and
other big investments that it says will pay off down the line.
* A senior Democrat has proposed that the United States seek
stronger trade agreements that would better protect the economy.