PRESS DIGEST- New York Times business news - Aug 11

Reuters

Aug 11 (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.

* Buzzfeed, the viral media site will use a $50 million investment to diversify its content, expand its video arm and create an in-house incubator for new technology. (http://nyti.ms/1sEgJWf)

* It is not clear to the executives of Microsoft Corp how the Chinese authorities believe that they violated the country's antimonopoly law. For months, Microsoft was in private discussions over competition issues with the State Administration of Industry and Commerce. (http://nyti.ms/1sM20dW)

* Pipeline group Kinder Morgan Inc, will acquire its three associated companies and re-form as a traditional corporation worth $140 billion. (http://nyti.ms/1A6xo9l)

* Hedge fund investors, furious at having their bond holdings in Portugal's Banco Espírito Santo written down to zero, are weighing legal action against Portuguese regulators. (http://nyti.ms/1oo6Ygv)

* SafeNet is selling itself for $890 million to Dutch digital security company Gemalto NV. The deal shows the limitations of a possible ban on inversions. (http://nyti.ms/1oCwsB2)

* The Royal Bank of Scotland Group PLC is revamping its controversial unit that assists businesses facing serious financial difficulties, according to a person briefed on the matter. The unit, the Global Restructuring Group, will be disbanded and replaced by a new restructuring group to be headed by Laura Barlow, who joined the bank in 2009, said the person. (http://nyti.ms/XUVeXQ) (Compiled by Rama Venkat Raman in Bangalore; Editing by Biju Dwarakanath)

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