Reuters: Regulatory News: PRESS DIGEST - New York Times business news - April 18

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PRESS DIGEST - New York Times business news - April 18 Apr 18th 2012, 06:14 April 18 | Wed Apr 18, 2012 2:14am EDT April 18 (Reuters) - The following were the top stories on the New York Times business pages on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy. * In a stinging rebuke, Citigroup shareholders rebuffed on Tuesday the bank's $15 million pay package for its chief executive, Vikram Pandit, marking the first time that stock owners have united in opposition to outsized compensation at a financial giant. * As data usage multiplies on mobile devices, carriers say they need more spectrum, but scientists and engineers say newer technologies can improve efficiency. * Warren Buffett disclosed on Tuesday that he had prostate cancer, a development that would probably heighten the questions over his successor as the chief executive of his conglomerate, Berkshire Hathaway. * As federal regulators put the finishing touches on an overhaul of the $700 trillion derivatives market, a major provision has been tempered in the face of industry pressure. * An accelerating wave of partner defections from the New York law firm Dewey & LeBoeuf is now threatening to violate the firm's loan agreements with its banks. * A confidential report prepared for investors this year and obtained by The New York Times says that Sony will lay off about 60 percent of EMI's publishing staff within two years, as part of $70 million in annual savings. * Louis Freeh, who is charged with the job of returning assets to MF Global's creditors, is expected to testify alongside regulators, as well as another trustee tasked with returning money to customers. * First Solar, which is based in Arizona, announced that it would stop all of its German production as part of a broad restructuring plan that will cut its global work force by 30 percent, or 2,000 workers, and sharply reduce its global production capacity. Link this Share this Digg this Email Reprints

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