February 12, 2014 / 6:11 AM / in 4 years

PRESS DIGEST- New York Times business news - Feb 12

Feb 12 (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 House voted 221-201 after Speaker John A. Boehner gave up on a plan to link an increase in borrowing authority to legislation that would have reversed a cut to veteran retirement benefits. ()

* Janet Yellen, the new chairwoman of the Federal Reserve, told a House committee on Tuesday that she strongly supported and planned to continue the policies adopted under her predecessor, Ben S. Bernanke. ()

* Federal prosecutors in six states have filed actions against businesses that buy luxury cars at domestic dealerships and then send them to China. ()

* After 13 years, six scientific opinions and two legal challenges, an insect-resistant type of corn is on the verge of being approved by the European Union. It would be only the third genetically modified crop to be authorized for cultivation in the 28-nation bloc. ()

* Dow Chemical said on Tuesday that it saw no value in pursuing a significant breakup, dealing a setback to a hedge fund manager who encouraged the company to split its petrochemicals and specialty chemicals businesses. ()

* In its most aggressive move yet to take over Time Warner Cable, Charter Communications Inc is proposing a full slate of directors to its target’s board. ()

* Corvex Management has stepped up its fight against CommonWealth REIT, a real estate investment concern, by adding billionaire Samuel Zell to its slate of board nominees for the company. ()

* Levo League, an online career forum that aims to help young people, especially women, in the early stages of their careers, raised $7 million through a new round of angel investment. ()

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