March 19, 2013 / 6:50 AM / 5 years ago

PRESS DIGEST-New York Times business news - March 19

March 19 (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.

* A plan to rescue the tiny European country of Cyprus, assembled overnight in Brussels, has left financial regulators, German politicians, panicked Cypriot leaders and a disgruntled Kremlin with a bailout package that has outraged virtually all the parties. ()

* Citigroup Inc said on Monday that it had agreed to pay $730 million to settle a class-action lawsuit on behalf of investors who said they were misled by the company’s disclosures. ()

* Spending on prescription drugs nationwide has been slowing for years because of the increasingly widespread use of low-cost generics. But in 2012, something unheard-of happened: money spent on prescription drugs actually dropped. ()

* The Walt Disney Co has an app in the works which would stream programming to the phones and tablets of cable and satellite subscribers and could become available to some subscribers this year. ()

* With automatic spending cuts cascading through the government, lawmakers are calling for a review of federal policies they say have allowed businesses to profit on government research with limited return for taxpayers or consumers. ()

* The chief executive of Electronic Arts resigned on Monday, a victim of a troubled environment for the big video game companies as well as of internal missteps. ()

* Federico Buenrostro, the chief executive of the California Public Employees’ Retirement System, or Calpers, is charged with defrauding Apollo Global Management LLC. ()

* Man Group, the largest publicly traded hedge fund firm in the world, is imposing its own bonus cap for top executives. Annual cash bonuses will now be capped at 250 percent of salary, the company said in its annual report. ()

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