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PRESS DIGEST-New York Times business news - July 16
July 16, 2013 / 6:11 AM / 4 years ago

PRESS DIGEST-New York Times business news - July 16

July 16 (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.

* British safety investigators are examining if a failure in the emergency transmitter, which would send out the plane’s location in the event of a crash, caused the plane to catch fire on Friday at the Heathrow Airport in London. Honeywell Aerospace, which supplies the transmitter and the jet’s navigation system, said Monday that it had sent technical experts to Heathrow to help the investigators. ()

* AT&T plans to announce on Tuesday a way for customers to upgrade phones sooner. T-Mobile unveiled a similar option last week. ()

* A sprawling factory that churns out the profitable Jeep Grand Cherokee has become a symbol of hope that Detroit’s downward spiral can be reversed. ()

* The civil trial of former Goldman Sachs trader Fabrice Tourre, whose work putting together a now-notorious mortgage investment is the focus of the Securities and Exchange Commission’s case, began Monday in Federal District Court in Manhattan. ()

* Chinese police on Monday accused British drugmaker GlaxoSmithKline of channeling bribes to Chinese officials and doctors through travel agencies to boost sales illegally and raise the price of its medicines in the country. ()

* Dominique Strauss-Kahn, the former chief of the International Monetary Fund whose career unraveled in a series of sex scandals, was named a board member of the Russian Regional Development Bank, a banking subsidiary of Russian state oil company Rosneft. ()

* BMW has bet considerable resources that the cost advantages of operating an electric car will outweigh the one big disadvantage - range. BMW will sell a motorcycle gasoline engine with the new i3 that helps maintain the charge when the car runs low. ()

* Bill Damaschke, chief creative officer of DreamWorks is increasingly calling the artistic shots as Jeffrey Katzenberg, head of the film studio, focuses on other areas. ()

* A report on ethical conduct surveyed 250 industry insiders, a quarter of whom said they would engage in insider trading to make $10 million if there were no repercussions. ()

* Baidu, China’s leading search engine company, said it reached a preliminary agreement to acquire 91 Wireless, a major mobile app developer and app store operator in China. ()

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