December 5, 2012 / 7:35 AM / 5 years ago

PRESS DIGEST-New York Times business news - Dec 5

Dec 5 (Reuters) - The following are the top stories on the New York Times business pages on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

* HSBC Holdings, one of Europe’s biggest banks, said on Wednesday it would sell its entire stake in a leading Chinese insurer to a Thai conglomerate for 72.7 billion Hong Kong dollars ($9.4 billion.) ()

* Walt Disney Studios said on Tuesday that it had completed a deal to show films from its Disney, Pixar and Marvel banners on Netflix, replacing a less lucrative pact with Starz. ()

* Baxter International agreed on Tuesday to buy the Swedish medical equipment manufacturer Gambro for 18.3 billion Swedish crowns ($2.77 billion). Under the terms of the deal, Baxter will gain access to the Swedish company’s lineup of medical equipment to expand its own range of dialysis products and build global market share. ()

* Former Goldman Sachs director, Rajat Gupta, may remain free on bail while he challenges his insider-trading conviction, a federal appeals court ruled on Tuesday. Gupta, 64, was found guilty in June of leaking Goldman’s boardroom secrets to his friend, the former hedge fund manager Raj Rajaratnam. ()

* Republicans and Democrats are struggling to find common ground on a long-term debt deal. But as economic growth has weakened this quarter, they are at odds over what the flagging recovery needs in the immediate future, too. ()

* Finance ministers of the European Union were deadlocked on Tuesday over how to create a single banking supervisor for the euro zone, delaying a decision on a new system that is supposed to prevent future financial crises. ()

* Smartphone apps that use the Internet, rather than cell networks, to send messages among users, often free of charge, are forcing wireless providers to change their pricing models. ()

* Students are demanding that university endowment funds rid themselves of coal, oil and gas stocks in hopes of bringing climate change onto the national political agenda. ()

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