February 25, 2014 / 7:56 AM / in 4 years

PRESS DIGEST- New York Times business news - Feb 25

Feb 25 (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 most prominent Bitcoin exchange Mt. Gox appeared to be on the verge of collapse late Monday, raising questions about the future of a volatile marketplace. ()

* The steel industry is feeling stress as automakers turn to aluminum, and are responding by producing lighter, stronger steel in a bid to retain one of their most important customers Ford Motor Co. ()

* Tax season doesn’t usually stir up emotions about the meaning of family and equal rights. But this year is different for the tens of thousands of same-sex married couples who, for the first time, will be required to file federal income tax returns that reflect their married status. Whether couples ultimately owe more in taxes or receive big refunds, for many of them, it will provide a long-awaited sense of validation.()

* The Justice Department in Washington and the Serious Fraud Office in London have agreed to divide up cases against employees at the center of an investigation into the manipulation of the global interest rate benchmark used for mortgages, credit cards and corporate loans known as the London interbank offered rate, or Libor, according to people briefed on the matter. ()

* Sina Corp, one of China’s biggest Internet portals, is preparing an initial public offering in the United States for Weibo, its Twitter-like microblogging service, according to people close to the matter. ()

* Alphonse Fletcher Jr., a flashy hedge fund manager, has been accused of running something akin to a Ponzi scheme, and the pension systems that say he misled them are hoping to get their money back. ()

* Stocks rose on Monday and the Standard & Poor’s 500-stock index hit a nominal intraday high, helped by gains in health insurers’ shares and optimism about mergers. ()

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