July 9, 2014 / 4:50 AM / 4 years ago

PRESS DIGEST- New York Times business news - July 9

July 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.

* Citigroup and the Justice Department are nearing a deal that could cost the bank roughly $7 billion to settle a civil investigation into the sale of mortgage investments, people briefed on the matter said on Tuesday. (nyti.ms/1me9QdR)

* After just under four hours of deliberation, a federal jury of eight women and four men found Rengan Rajaratnam, 43, not guilty of conspiracy to commit insider trading with his brother. (nyti.ms/U2tWfP)

* América Móvil said Tuesday that it would sell off parts of its Mexican unit, an unexpected capitulation by its controlling shareholder, Carlos Slim Helú, to strong new antimonopoly rules. (nyti.ms/1ozMWfg)

* A Canadian firm, 1832 Asset Management, disclosed in a filing with the Securities and Exchange Commission on Tuesday that it had sold about 11.5 million shares of American Apparel stock, or about 6.6 percent of the company's outstanding shares, liquidating its entire holding in the company. (nyti.ms/1rPNwud)

* New York's attorney general said on Tuesday that he had reached an agreement with Uber, the car-summoning start-up, that would limit the cost of using the company's service during emergencies. The new agreement, according to the attorney general's office, would cap Uber's surge prices during "abnormal disruptions of the market," typically citywide emergencies, in accordance with the City of New York's law against price gouging, passed in 1979. (nyti.ms/1kCd4mQ)

* Yelp, the online service increasingly popular on both sides of the Atlantic, has joined the critics formally opposing the European Union's proposed antitrust settlement with Google. Google officials declined to comment on the Yelp complaint. (nyti.ms/1jcTTVK)

* Amazon has proposed giving Hachette's authors all the revenue from their e-book sales on Amazon as the parties continue to negotiate a new contract. Hachette's response on Tuesday was to suggest that the retailer was trying to make it commit suicide. (nyti.ms/1zoeKdI) (Compiled by Sudarshan in Bangalore)

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