July 31, 2013 / 5:13 AM / in 4 years

PRESS DIGEST - New York Times business news - July 31

July 31 (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.

* Chevron Corp has set its lawyers against Steven Donziger, who won an $18 billion case over oil spills in the Ecuadorean jungle, accusing him of manipulating evidence and bribing judges. ()

* In a significant victory for law enforcement, a federal appeals court on Tuesday said that government authorities could extract historical location data directly from telecommunications carriers without a search warrant. ()

* Barclays Plc, which has faced several scandals, has come under pressure from British authorities to improve its capital position. The bank said it plans to raise up to $12 billion in new capital. ()

* Federal authorities, continuing their campaign against insider trading, announced criminal charges on Tuesday against Sandeep Aggarwal, a former technology stocks analyst at the research firm Collins Stewart, in a case connected to last week’s indictment of the hedge fund SAC Capital Advisors. ()

* JP Morgan Chase & Co struck a $410 million settlement with the Federal Energy Regulatory Commission (FERC), which had accused the bank of devising “manipulative schemes” to transform “money-losing power plants into powerful profit centers”. JPMorgan is bracing for an even larger penalty stemming from shoddy mortgage securities it sold to the government. ()

* Fabrice Tourre, the former Goldman Sachs trader, was either a greedy scheming liar or a bright young executive just trying to do his job, according to dueling portraits presented during closing arguments Tuesday in the most prominent case from the financial crisis to go to trial. The trader is accused of scheming with a big hedge fund to defraud investors in connection with a 2007 trade. ()

* The long-running trade conflicts over solar panels between China and the United States and Europe have sown dissatisfaction all around. But Taiwan, not involved in the disputes, has gained from a U.S. tariff ruling against China, which has created a loophole benefiting Taiwanese manufacturers. ()

* A report by the Government Accountability Office found that the Agriculture Department lacked the proper controls to make sure the money it sent was going to the right people, with millions in U.S. subsidies going to deceased farmers. ()

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