December 30, 2013 / 6:30 AM / in 4 years

PRESS DIGEST- New York Times business news - Dec 30

Dec 30 (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.

* Emails and other confidential documents show that JPMorgan Chase and Co escalated what it called its “Sons and Daughters” hiring program, adding the children of China’s ruling elite, and tracking how those hires translated into business deals with the Chinese government. ()

* Democrats are hoping that a push to raise the federal minimum wage and a campaign to place state-level wage proposals on the ballot will help their chances in hotly contested congressional races. ()

* Media conglomerate Time Warner Inc hopes to spin off its Time Inc unit into a separate public company within the next six months. ()

* The United States, the country that invented the Internet, is falling dangerously behind in offering high-speed, affordable broadband service to businesses and consumers, according to technology experts and an array of recent studies. ()

* Twitter Inc is trading at a much higher valuation than proven Internet powerhouses like Facebook Inc and Google Inc. The company, which has released no major news or financial information since its initial public offering, has not stopped investors’ exuberance about its potential to eventually bring in billions of dollars from advertising, coupled with Wall Street’s penchant for hopping onto any fast train, from propelling the shares to nosebleed levels. ()

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