PRESS DIGEST- New York Times business news - Jan 28


Jan 28 (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.

* The Obama administration will allow Internet companies to talk more specifically about when they are forced to turn over customer data to the government, the Justice Department said.

* Marathon Asset Management is starting a new $350 million fund dedicated to distressed debt in Europe. ()

* Martin Marietta Materials has agreed to acquire Texas Industries in an all stock deal worth more than $2 billion, according to people familiar with the matter. In the deal, Martin Marietta will exchange seven-tenths of one of its shares, worth about $72, for each Texas Industries share. A deal is expected to be announced shortly. ()

* JPMorgan Chase appears to have settled a dispute with Frank Bisignano, a former close confidant of its chairman, Jamie Dimon, the latest reminder that the inner circle that helped the bank weather the financial crisis is no more. ()

* Narayana Kocherlakota, president of the Minneapolis Fed, said the central bank should increase its efforts to stimulate the economy - a view he conceded had not gained much traction with his colleagues. ()

* Apple's blockbuster phone sales helped the company post a profit of $13.1 billion on revenue of $57.6 billion. The company set record for iPhones sold in the quarter at 51 million devices. ()

* Tiger Global Management, the New York-based hedge fund, will invest nearly $520 million in Brazilian online retailer B2W Companhia Digital, the company said, a sign that it continues to see promise in Brazil's vibrant Internet sector. ()

* United Technologies is considering Sikorsky, the maker of the Black Hawk helicopter, as a candidate for a tax-free spinoff or potentially a sale to a rival. ()

* One of the most prominent players in the Bitcoin universe, Charles Shrem, was arrested on Sunday, accused of conspiring to facilitate drug transactions on the now-defunct online bazaar Silk Road. ()

* More class-action lawsuits were filed against public companies in 2013 than in the previous year, but the filers were seeking billions less in damages than they have on average. ()

View Comments (0)