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PRESS DIGEST-New York Times business news - March 26
March 26, 2013 / 7:15 AM / 4 years ago

PRESS DIGEST-New York Times business news - March 26

March 26 (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.

* Michael Dell considers Blackstone Group LP’s preliminary proposal for Dell Inc to be potentially friendly to management and may reach out to talk later this week, a person briefed on the matter said on Monday. ()

* Facebook Inc is no longer relying solely on what its users reveal. Instead, it is tapping outside data sources to learn even more about them, and to sell more finely targeted ads. ()

* Concord Music Group, an independent music company with an artist roster that includes Paul McCartney, Paul Simon and Creedence Clearwater Revival, has been sold to Wood Creek Capital Management, a private equity firm that has been quietly building a collection of music assets. ()

* Rengan Rajaratnam pleaded not guilty on Monday to insider trading charges while he worked for the now-defunct Galleon Group, coming nearly two years after the conviction of his older brother, the fallen hedge fund titan Raj Rajaratnam. ()

* Shares in Bankia SA, the giant Spanish mortgage lender whose collapse last year led to a banking crisis in Spain, slumped on Monday in the first day of trading after regulators wiped out most of the stock’s value.

Regulators said on Friday that Bankia shares would be revalued at 1 cent each as the custodial managers who now oversee the bank try to create a clean slate. The new valuation was a condition of Bankia getting a capital injection of 10.7 billion euros ($13.9 billion) from European rescue funds. ()

* A survey of 800 large and midsize employers including PepsiCo Inc and Wal-Mart Stores Inc found that employers are increasingly trying to lower healthcare costs by using incentives to persuade workers to make better lifestyle choices. ()

* Puerto Rico has gone on a campaign to promote tax incentives that took effect last year, marketing its beautiful beaches, private schools and bargain costs in an effort to lure affluent American hedge fund managers and business executives to its shores. ()

* Messages from the world’s largest law firm, DLA Piper, disclosed in a dispute over fees, will likely add to a perception that law firms inflate bills by performing superfluous tasks and overstaffing assignment. ()

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