July 28, 2014 / 5:16 AM / in 3 years

PRESS DIGEST- New York Times business news - July 28

July 28 (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.

* About 1,200 fast-food workers from McDonald's, Burger King and other chains crowded over the weekend into an expo center in the suburb west of Chicago to pursue their ambitious goal of creating a $15-an-hour wage floor for the nation's four million fast-food workers. (nyti.ms/1AnVLAm)

* The Federal Reserve's policy-making committee, which meets Tuesday and Wednesday, is widely expected to announce another cut in its monthly bond purchases, to $25 billion, in keeping with its declared intention to end the purchases in October.(nyti.ms/UEqTuo)

* Reddit, a community-driven site, is trying to jump-start its advertising business and reinforce some smaller moneymaking efforts. Reddit's focus is to figure out how to become a real business without changing the essential nature of the service and alienating its powerhouse constituency of 114 million intensely loyal monthly users. (nyti.ms/1nxfj03)

* The British government plans to make more land available for licensing for oil and natural gas exploration in the first such expansion since 2008. The government wants new sources of oil and gas to help replace Britain's declining offshore production in the North Sea, to create jobs and to ease growing dependence on fuel imports, especially from Russia. (nyti.ms/X1vvwr)

* The multi-billion dollar dispute over Guidant between Johnson & Johnson and Boston Scientific Corp finally heads for a trial. After virtually no movement in the case for two years, a federal judge has denied a motion for summary judgment that would have put the matter to rest. (nyti.ms/1xmzIFV)

* Equinox Fitness said it will buy rest of Millennium's Gyms for about $110 million. The purveyor of expensive workout centers and risqué advertising, Equinox is about to announce on Monday that it had acquired Sports Club/LA gyms in New York and four other cities, as well as the Reebok Sports Club/NY gym on the Upper West Side of Manhattan. All will soon bear the Equinox brand and feature the company's classes and products. (nyti.ms/1rt3uqV)

* Hospira, a Midwestern medical device maker is in talks to pay about $5 billion for the medical nutrition business of the French consumer group Danone. The deal, if completed, would allow Hospira to re-incorporate overseas in a so-called inversion, lowering its tax rate and freeing its foreign cash. (nyti.ms/1mTmNFz)

* Alan Greenberg, who led Bear Stearns Co through its rise and fall, died on Friday at the age of 86. Greenberg as chief executive of Bear Stearns Co transformed a small bond shop into the fifth-largest U.S. securities firm before it collapsed in 2008 in one of the key events of the global credit crisis. (nyti.ms/1uxe31I) (Compiled by Rishika Sadam in Bangalore)

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