March 15, 2013 / 7:11 AM / in 5 years

PRESS DIGEST-New York Times business news - March 15

March 15 (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.

* The Federal Reserve on Thursday said Goldman Sachs Group Inc and JPMorgan Chase & Co would need to resubmit their proposals to pay out billions of dollars to shareholders, citing weaknesses in their capital plans.

* JPMorgan Chase & Co, the nation’s biggest bank, ignored internal controls and manipulated documents as it racked up trading losses last year, while its influential chief executive, Jamie Dimon, briefly withheld some information from regulators, a new Senate report says.

* Instead of bowing to a rising anti-austerity tide, European leaders who gathered for an economic summit meeting on Thursday seemed determined to stay the course, insisting that only budget cuts and other measures to restore financial stability could return the continent to economic growth and create jobs.

* Increasing the stakes in the smartphone battle Samsung Electronics Co Ltd showed off the Galaxy S IV, the latest version of its flagship device.

* The investment company owned by the billionaire Philip Anschutz has decided to call off efforts to sell the Anschutz Entertainment Group, a sports and live entertainment juggernaut that owns stakes in the Los Angeles Lakers and the Los Angeles Kings.

* Haruhiko Kuroda was approved on Friday to become the next Bank of Japan governor, one of the most thankless jobs in a country plagued for decades with economic problems. He is tasked with bringing about a regime change at the bank, something he himself has previously called for.

* Royal Dutch Shell Plc must provide a detailed plan addressing numerous safety and operational issues that plagued its efforts to extract oil beneath the Arctic Ocean last year if it wants to resume drilling off the coast of Alaska, the Interior Department said on Thursday.

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