Tuesday September 22, 06:44 AM
PRESS DIGEST - New York Times business news - Sept 22
Sept 22 (Reuters) - The following were the top stories in the New York Times (NYSE: NYT - news) business pages on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.
* Senior regulators say they are seriously considering a plan to have the nation's healthy banks lend billions of dollars to rescue the insurance fund that protects bank depositors.
* With the financial industry on the mend, Bank of America Corp (NYSE: IKJ - news) announced several measures on Monday to reduce its reliance on federal aid.
* It was not exactly a planned strategy, but the recession, particularly in the United States, has been very good for Hyundai Motor Co, the South Korean automaker.
* Dell Inc (NASDAQ: DELL - news) said Monday that it would spend $3.9 billion in cash to buy Perot Systems Corp (NYSE: PER - news) , a provider of technology services that is especially strong in the growing field of electronic health records.
* Asian economies slumped steeply when exports plunged during the winter, but most of the region is now rebounding quickly, the Asian Development Bank said in a report released on Tuesday.
* The research arm of Congress reported on Monday that the American International Group Inc's financial condition had stabilized but that it was not clear whether the giant insurance group would ever be able to repay the federal government.
* Netflix Inc (NASDAQ: NFLX - news) , the movie rental company, announced on Monday that a seven-man team was the winner of its closely watched three-year contest to improve its Web site's movie recommendation system.
* A two-judge panel of a federal appeals court has ruled that big power companies can be sued by states and land trusts for emitting carbon dioxide. The decision, issued Monday, overturns a 2005 District Court decision that the question was political, not judicial.
* The chairman of the Senate Finance Committee, Max Baucus, said Monday that he would modify his health care bill to provide more assistance to moderate-income Americans to help them buy insurance.
* In an unusual move, European antitrust regulators published internal e-mails and documents to back up its record fine against Intel Corp (NASDAQ: INTC - news) .
* World leaders at the Group of 20 meeting this week should force banks to build up their reserves substantially to avoid another acute financial crisis, a leading association of regulatory experts said Monday.
* Grupo Santander, the Spanish bank that is the top lender in Latin America, said on Monday that it was seeking to raise as much as $7.3 billion through a sale of shares in its Brazilian unit.
* Two leading senators have charged that a well-known heart doctor affiliated with Columbia University may have failed to tell the university about millions of dollars in payments and other income he received from medical device makers.
* A New York judge on Monday rejected CBS Corp (NYSE: RBV - news) 's bid to dismiss Dan Rather's $70 million lawsuit asserting that he was fired over an election-year report on former President George W. Bush's Vietnam War-era military service.
* The chairman of the Federal Communications Commission proposed regulations on Monday that would require Internet service providers to treat all Web content the same with regard to transmission speed.
* A private forecast of economic activity, released on Monday, rose in August for the fifth consecutive month, the latest sign the recession may be ending.
* Lennar Corp, the house builder, reported a wider quarterly loss on Monday as it continued to write down the value of land and unsold homes.
* The Far Eastern Economic Review, an English-language news magazine in print since 1946, will close in December after losing readership and advertising revenue, its publisher, Dow Jones (news) & Co, said.
* Two men lured victims into an $80 million Ponzi scheme by convincing them they were investing in thousands of automated teller machines that in fact were never bought, federal authorities said Monday. Keywords: PRESS DIGEST/NYT Keywords: PRESS DIGEST/NYT
(Compiled by Neha Singh; Bangalore Equities Newsdesk +91 80 4135 5800; within U.S. +1 646 223 8780)
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