January 10, 2014 / 6:05 AM / in 4 years

PRESS DIGEST- New York Times business news - Jan 10

Jan 10 (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.

* Wall Street could pay nearly $50 billion to federal authorities who are taking aim at the banks over their role in the mortgage crisis, according to interviews and a confidential analysis of the industry’s potential legal exposure. JPMorgan Chase’s record $13 billion mortgage settlement in November has stepped up the pressure on other banks to strike their own separate deals in the coming months, some top bank executives say. ()

* New York State Attorney General Eric Schneiderman said he planned to investigate brokerage firms that might have provided early market-moving information to preferred clients. The remarks came a day after his office reached an agreement with BlackRock, the world’s largest asset manager, to end the company’s practice of surveying Wall Street analysts for early clues on their opinions before those opinions became public. ()

* Disagreements over a program to help dairy producers when milk prices drop have emerged as a major sticking point in negotiations on a new farm bill, which had been expected to be wrapped up this week. But lawmakers appear to have reached a deal to cut about $9 billion over 10 years from the food stamp program, which is part of the farm bill and had been the most contentious issue in the efforts to pass the legislation. ()

* Apollo Global Management LLC said it raised $17.5 billion from outside investors for its eighth private equity fund. It is the largest such fund the firm has ever raised, and includes $880 million from Apollo and affiliated investors, including employees of the firm, bringing the total to about $18.4 billion. ()

* Google will soon allow people to send anyone an email, even if they do not have the person’s email address, as long as both people have a Gmail and Google Plus account. ()

* Ford announced a new Fiesta compact car tailored for global drivers, complete with advanced anti-collision technology, a fuel-saving engine and its lowest price tag yet for a car it will sell in Japan - 2.29 million yen, or $21,800. With the Fiesta, Ford hopes to finally pry open a market that has flummoxed many foreign automakers, one that it all but abandoned as it fought off bankruptcy during the global economic crisis. ()

* Mathew Martoma, the former hedge fund manager accused of insider trading at SAC Capital Advisors, was expelled from Harvard in 1999 for creating a false transcript when he applied for a clerkship with a federal judge. Martoma used a computer program to change several grades from B’s to A‘s, including one in criminal law, and then sent the forged transcript to 23 judges as part of the application process, court papers unsealed on Thursday showed. ()

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