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PRESS DIGEST- New York Times business news - Oct 15
October 15, 2013 / 4:48 AM / 4 years ago

PRESS DIGEST- New York Times business news - Oct 15

Oct 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.

* While Senate leaders praised the progress that was made on a deal to reopen the government and raise the debt limit, it was clear that the most conservative members of the House were not going to go along quietly. ()

* In a sign of on-demand TV’s popularity, some cable companies, including Comcast Corp, Charter Communications Inc and Cox Communications Inc , are talking with Netflix about making subscription services available through the set-top boxes that most Americans have in their living rooms. ()

* Hurricane Sandy devastated Mantoloking, a barrier island community of multimillion-dollar homes in New Jersey, Verizon Communications did not rebuild the landlines destroyed in the storm, and traditional telephone service here has now gone the way of the telegraph. The move may presage the end of the lines across the United States. The traditional landline is not expected to last the decade in a country where nearly 40 percent of households use only wireless phones. ()

* Medicare beneficiaries can sign up for private health plans starting Tuesday, but federal officials fear that many of them, out of confusion, might go to the new federal insurance exchange. In fact, people with Medicare generally cannot buy insurance through the exchange. Policies sold there duplicate many benefits provided by Medicare, and it is illegal for insurance companies, agents and brokers to sell such polices to people known to have Medicare, federal officials said Monday.()

* Nearly 2,000 private equity firms are making pitches to state retirement systems, corporate pension funds and wealthy investors in the hope of raising nearly three-quarters of a trillion dollars for their next, new funds, but the recession’s effects have lingered for poor performers. ()

* Regulators and investors seem to disagree with recent calls for the JP Morgan Chase & Co head’s ouster over the bank’ expensive legal troubles. There is an almost bizarre disconnect between the headlines and what the people who matter - investors, analysts, board members and, yes, even regulators - are seeking. None of them want Jamie Dimon to be fired. ()

* Cold-weather apparel maker, Moncler, said it had applied to go public on the Milan Stock Exchange, becoming the latest fashion company to pursue a stock listing. A gaggle of fashion labels have gone public in recent years, driven by investors’ desire to tap into luxury retail, a sector that has quickly rebounded since the global financial crisis. ()

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