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PRESS DIGEST-New York Times business news - Jan 24
January 24, 2013 / 7:11 AM / 5 years ago

PRESS DIGEST-New York Times business news - Jan 24

Jan 24 (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.

* Investors have come to expect nothing short of perfection from Apple Inc but with the company’s stock sinking 11 percent, it is clear there are a range of challenges. ()

* Avoiding an economic showdown with President Obama, the House on Wednesday passed legislation to eliminate the nation’s statutory borrowing limit until May, without including the dollar-for-dollar spending cuts that Republicans once insisted would have to be part of any debt limit bill. ()

* Prime Minister David Cameron of Britain has added to Europe’s malaise, vowing to reduce British entanglement with the European Union - or allow his people to vote in a referendum to leave the bloc altogether. ()

* Daniel Vasella, the longtime chairman and former chief executive of Novartis, the Swiss drug maker, plans to step down next month, the company said on Wednesday, when it also reported a jump in fourth-quarter profit. ()

* The International Monetary Fund said on Wednesday that it continued to expect a modest upturn in global growth in 2013, with fewer risks of major policy mistakes and lower levels of financial stress. ()

* Netflix Inc reported $8 million in net income, surprising analysts who had expected a slight loss. It increased the number of subscribers for its streaming service to 27 million. ()

* The Boeing 787’s difficulties have raised questions about how regulators certify new technology and how they balance advances in design and engineering with safety. ()

* Japan on Thursday reported a record annual trade deficit in 2012, the second straight year in the red for an exporting nation that has long built its wealth on its vast trading surpluses. ()

* A survey of manufacturing activity in China on Thursday provided more reassurance that the Chinese economy, buoyed by somewhat improved global trade and a string of government stimulus measures last year, has settled into a muted recovery. ()

* US Airways Group Inc reported on Wednesday that its net income doubled in the fourth quarter from a year earlier, and its executives said strong passenger demand for the airline could lead to higher fares. ()

* The long decline in the number of American workers belonging to labor unions accelerated sharply last year, according to data reported on Wednesday, sending the unionization rate to its lowest level in close to a century. ()

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