February 26, 2013 / 8:06 AM / in 5 years

PRESS DIGEST-New York Times business news - Jan 26

Feb 26 (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.

* BP Plc finally faced off in court on Monday against an army of U.S. federal and state prosecutors, lawyers and even its contract partners over the Gulf of Mexico oil spill three years ago, contending that it alone should not shoulder blame for the rig explosion - but negotiators were said to be working on multibillion-dollar settlement.

* The head of the German central bank said France should not give up trying to bring its government deficit below 3 percent of gross domestic product, adding to the criticism being heaped on President Francois Hollande of France from abroad.

* Mary Jo White, who has been nominated to lead the U.S. Securities and Exchange Commission, is tentatively scheduled to appear the week of March 11 before the Senate Banking Committee, which oversees the agency and other financial regulators.

* A U.S. federal judge on Monday ordered Rajat Gupta, the former Goldman Sachs Group Inc director, to reimburse the bank for some legal expenses connected to his insider trading case.

* A jury said Johnson & Johnson should pay an American woman $3.4 million for failing to warn her doctor adequately of the potential dangers of a vaginal mesh implant made by the company’s Ethicon subsidiary, and for misrepresenting the product in brochures.

* A fierce battle between the Government of Argentina and a group of hedge funds has led to the seizure of a naval ship and dragged in the United States Treasury. Now a U.S. federal appeals court is hearing the dispute, and how it rules could have a major impact on world debt markets.

* Hundreds of leading weight-loss company Weight Watchers International Inc’s rank-and-file workers are waging an open rebellion that has management scrambling to improve working conditions.

* Private equity group Royalty Pharma’s $6.6 billion buyout offer is too small of a premium to tempt Dublin-based pharmaceutical company Elan Corp Plc’s management away from its own acquisition ambitions.

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