PRESS DIGEST- New York Times business news - June 20

Reuters

(Corrects date in dateline to June 20)

June 20 (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.

* General Electric Co announced on Thursday a revised $13.5 billion bid for the energy business of the French conglomerate Alstom SA aimed at easing concerns of the Socialist government of President Francois Hollande. (http://nyti.ms/USFCCZ)

* Shares in Tianhe Chemicals Group rose on Friday in their trading debut in Hong Kong after the company raised about $650 million last week in an initial public offering. (http://nyti.ms/1ss7Z9F)

* Federal prosecutors and financial regulators have subpoenaed Congress in an investigation that could test the limits of federal insider trading laws. The investigation focuses on a Washington research company, Height Securities. Last year, it correctly predicted a change in government health care policy, prompting a surge in the stock prices of health insurance companies. (http://nyti.ms/1jC63lE)

* Microsoft Corp and Google Inc said Thursday that phones using their operating systems - including handsets produced by big names like Samsung, Nokia and Motorola - will have a so-called kill switch that can render the devices unusable after they have been reported stolen. Apple's iPhone has had a kill switch, called Activation Lock, since September. (http://nyti.ms/UklVU9)

* Computer security experts say hedge funds, with their vast pools of money and opaque nature, have become perfect targets for sophisticated cyber criminals. Over the past two years, experts say, hedge funds have fallen victim to targeted attacks. What makes them such ripe targets is that even as hedge funds expend millions in moving their trading operations online, they have not made the same investment in security. (http://nyti.ms/1ss8u3K) (Compiled by Sampad Patnaik in Bangalore)

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