February 7, 2013 / 7:15 AM / 5 years ago

PRESS DIGEST-New York Times business news - Feb 7

Feb 7 (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.

* Emails and employee interviews filed as part of a lawsuit show that JPMorgan Chase & Co flouted quality controls as it bundled mortgages into complex financial instruments.

* The Royal Bank of Scotland on Wednesday reached a combined $612 million settlement with American and British authorities over accusations that it manipulated interest rates, the latest case to emerge from a broad international investigation.

* U.S. federal regulators approved one flight of a Boeing 787, with a crew but no passengers, as engineers study ways to reduce the risks of another battery fire.

* Revenue from advertisements and subscription fees from Time Warner Inc’s cable properties helped overcome a challenging quarter for the media conglomerate’s publishing and movie divisions.

* Monte dei Paschi di Siena, an ancient Tuscan bank whose troubles have shaken Italian politics and caused jitters around the euro zone, on Wednesday confirmed earlier estimates of losses from a series of secret transactions that were used to conceal the scope of the bank’s problems.

* GlaxoSmithKline Plc plans to cut costs in its struggling European drugs division and promised investors a return to growth this year, after failing to deliver a hoped-for recovery in sales and profits in 2012.

* Cravath, Swaine & Moore has hired David Kappos, the departing director of the United States Patent and Trademark Office, the second time the law firm has added a former senior Obama administration official to its partnership.

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