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PRESS DIGEST-New York Times business news - March 28
March 28, 2013 / 7:10 AM / 5 years ago

PRESS DIGEST-New York Times business news - March 28

March 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.

* The largest banks in the United States - including Bank of America Corp, Citigroup Inc and JPMorgan Chase & Co - facing a torrent of lawsuits over shoddy mortgage securities, are pushing to overturn a series of tough rulings in an important case. ()

* AMR Corp’s American Airlines won bankruptcy court approval on Wednesday to combine with US Airways Group Inc and form the world’s biggest airline. ()

* The Cypriot government on Wednesday announced severe restrictions on access to funds held in the country’s banks, hoping to control a rush to withdraw money when the banks open on Thursday for the first time in nearly two weeks. ()

* Two lithium-ion car batteries produced by GS Yuasa Corp , the same Japanese company that supplies batteries for Boeing Co’s grounded 787 jetliner fleet, have overheated in recent days. ()

* The U.S. Supreme Court threw out a proposed class-action antitrust lawsuit against cable television company Comcast Corp , in which more than 2 million current and former Comcast subscribers claimed that the company had unfairly eliminated competition and overcharged customers. ()

* The U.S. Food and Drug Administration approved the chemical, dimethyl fumarate, sold by Biogen Idec Inc under the name Tecfidera, the third of a spate of oral drugs that are transforming the treatment of multiple sclerosis. ()

* Covington & Burling, a prominent U.S. law firm, plans to announce on Thursday that Lanny Breuer, who led the U.S. Justice Department’s investigation into the financial crisis, will be its vice chairman. ()

* After nearly 30 years of running Hearst Corp, a privately held media company that publishes the Cosmopolitan, Harper’s Bazaar and Esquire magazines, Chief Executive Frank Bennack has announced that he is stepping down. ()

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