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PRESS DIGEST- New York Times business news - Jan 28
January 28, 2014 / 5:50 AM / 4 years ago

PRESS DIGEST- New York Times business news - Jan 28

Jan 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 Obama administration will allow Internet companies to talk more specifically about when they are forced to turn over customer data to the government, the Justice Department said.

* Marathon Asset Management is starting a new $350 million fund dedicated to distressed debt in Europe. ()

* Martin Marietta Materials has agreed to acquire Texas Industries in an all stock deal worth more than $2 billion, according to people familiar with the matter. In the deal, Martin Marietta will exchange seven-tenths of one of its shares, worth about $72, for each Texas Industries share. A deal is expected to be announced shortly. ()

* JPMorgan Chase appears to have settled a dispute with Frank Bisignano, a former close confidant of its chairman, Jamie Dimon, the latest reminder that the inner circle that helped the bank weather the financial crisis is no more. ()

* Narayana Kocherlakota, president of the Minneapolis Fed, said the central bank should increase its efforts to stimulate the economy - a view he conceded had not gained much traction with his colleagues. ()

* Apple’s blockbuster phone sales helped the company post a profit of $13.1 billion on revenue of $57.6 billion. The company set record for iPhones sold in the quarter at 51 million devices. ()

* Tiger Global Management, the New York-based hedge fund, will invest nearly $520 million in Brazilian online retailer B2W Companhia Digital, the company said, a sign that it continues to see promise in Brazil’s vibrant Internet sector. ()

* United Technologies is considering Sikorsky, the maker of the Black Hawk helicopter, as a candidate for a tax-free spinoff or potentially a sale to a rival. ()

* One of the most prominent players in the Bitcoin universe, Charles Shrem, was arrested on Sunday, accused of conspiring to facilitate drug transactions on the now-defunct online bazaar Silk Road. ()

* More class-action lawsuits were filed against public companies in 2013 than in the previous year, but the filers were seeking billions less in damages than they have on average. ()

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