PRESS DIGEST- New York Times business news - Sept 26
Sept 26 (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.
* Yahoo Inc has sold Alibaba Group Holding Ltd shares worth $6 billion after taxes, and its remaining stake is valued at $36 billion. Yet Yahoo's shares have tumbled more than 8 percent since then, highlighting the peculiarly difficult crossroad that now confronts Yahoo and its chief executive, Marissa Mayer. (http://nyti.ms/1roQ2qs)
* Just a little more than a year after pulling back from South America, Sequoia Capital, the Silicon Valley venture capital firm, has led a new $13.8 million round in Nubank, a financial services start-up based in Sao Paulo. Its latest investment in Brazil comes despite recession and political uncertainty with presidential elections coming next month. (http://nyti.ms/YgIryW)
* The hedge fund seeking to replace Darden Restaurants Inc board, Starboard Value, received support from two leading proxy advisory firms, Institutional Shareholder Services and Glass Lewis, which both recommended that Darden shareholders vote for the fund's proposed slate of directors at an upcoming meeting in October. (http://nyti.ms/Zftheg)
* Fairholme Capital Management, one of Sears Holding Corp's largest shareholders, said on Thursday it was unable to reach an agreement with the real estate firm, St. Joe Co , to participate in the loan. Fairholme was in discussions with St. Joe to contribute up to $100 million, according to a filing on Sept. 18 with the Securities and Exchange Commission. (http://nyti.ms/1yts0Qm)
* Robert A. Eckert, former chairman and chief executive of Mattel Inc, has joined the middle-market private equity firm Friedman Fleischer & Lowe as an operating partner. (http://nyti.ms/1ytsdD8)
* The United States dollar, after one of its most prolonged weak spells ever, has now re-emerged as the preferred currency for global investors. Across trading desks in New York, London and elsewhere, analysts are rushing to raise their dollar forecasts based on the resurgence in the American economy.(http://nyti.ms/1sw09MM)
* Chrysler, a unit of Fiat SpA, said on Thursday that it would recall 349,442 vehicles worldwide for faulty ignition switches that could cause cars to suddenly turn off while driving, adding to the recent wave of automobile recalls related to ignition problems. (http://nyti.ms/1ytslT8)
(Compiled by Shivam Srivastava in Bangalore)
