June 9, 2014 / 5:25 AM / in 4 years

PRESS DIGEST- New York Times business news - June 9

June 9 (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.

* Sometime late next year Time Inc will leave its home of more than five decades, the Time & Life Building in Rockefeller Center, and head to new quarters in downtown Manhattan. On Monday, the nation's largest magazine publisher will begin trading as an independent company - stock symbol: TIME - with an uncertain future. (r.reuters.com/syw89v)

* Hillshire Brands, the company that manufactures Jimmy Dean and Ball Park hot dogs, is expected to declare Tyson the victor of a bidding war for itself, people briefed on the matter said on Sunday. Tyson is expected to pay $63 a share in cash that would value Hillshire at $7.7 billion, 71 percent higher than its market capitalization before bidders emerged for the company. (r.reuters.com/vuw89v)

* On Monday, Netflix shareholders will vote at the company's annual meeting on a proposal by two public pension funds to separate the roles of chairman and chief executive. Both are held by Reed Hastings, Netflix's co-founder. (r.reuters.com/nax89v)

* Non-compete clauses are now appearing in far-ranging fields beyond the worlds of technology, sales and corporations with tightly held secrets, where the curbs have traditionally been used. From event planners to chefs to investment fund managers to yoga instructors, employees are increasingly required to sign agreements that prohibit them from working for a company's rivals. (r.reuters.com/tax89v)

* The fastest-growing niche in the industry today is Cyber-insurance. Specialized policies to protect against online attacks are offered by about 50 carriers, including big names like the American International Group, Chubb and Ace. As data breaches have become a reality of the business world, more companies are buying policies; demand increased 21 percent last year from 2012, according to Marsh, a risk management company and insurance broker. (r.reuters.com/vax89v) (Compiled by Ankush Sharma in Bangalore)

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