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PRESS DIGEST- New York Times business news - Feb 21
February 21, 2014 / 7:15 AM / 4 years ago

PRESS DIGEST- New York Times business news - Feb 21

Feb 21 (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.

* Facebook Inc’s agreement to buy the messaging start-up WhatsApp for up to $19 billion is risky, but follows a trend in valuing the number of users over revenue. ()

* Since the financial crisis, the Fed has engaged in an aggressive stimulus campaign, which has helped lift stock and bond markets, greatly enriching Wall Street in the process. Even so, a surprisingly large number of investors and bankers remain deeply skeptical - and even angry - about what the Fed is doing.()

* Chickie’s & Pete‘s, a chain of sports bars based in Philadelphia, has agreed to pay $6.8 million in back wages and damages for improperly taking tips from waiters and bartenders and for violating minimum wage and overtime laws, the Labor Department announced Thursday. ()

* Brookdale Senior Living and Emeritus Corp announced on Thursday that they would merge in a deal valued at $2.8 billion, including about $1.4 billion of Emeritus mortgage debt. ()

* A former hedge fund analyst has been charged with stealing confidential computer data from his previous employer, the latest crackdown by the Manhattan district attorney on suspected violations of cyber security. ()

* Juniper Networks, the networking equipment company, said on Thursday that it had reached an agreement with the hedge fund Elliott Management to nominate two new directors to its board and return more money to shareholders, avoiding a possible proxy fight with the hedge fund. ()

* Nutritional supplements company Herbalife Ltd will conduct a briefing on Friday to educate congressional staff members about its business in what appears to be an effort to ramp up its lobbying efforts in Washington. ()

* Sequoia Capital, the venture capital firm which invested in WhatsApp, is poised to make as much as 50 times its money on the Facebook deal, according to an estimate by DealBook and a person briefed on the matter. ()

* Engaged Capital, the activist hedge fund that has been pushing for change at Abercrombie & Fitch Co, stepped up its fight on Thursday by nominating five director candidates despite changes that the retailer had announced in recent weeks.

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