Reuters: Regulatory News: PRESS DIGEST - New York Times business news - May 2

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PRESS DIGEST - New York Times business news - May 2 May 2nd 2012, 06:09 Wed May 2, 2012 2:09am EDT May 2 (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. * The Federal National Mortgage Association and Freddie Mac approved and even initiated programs to reduce homeowner debt and save taxpayers millions, but halted them before the trials had progressed far enough to measure success, according to documents released Tuesday. * Pfizer Inc has settled a lawsuit filed by Brigham Young University, over development of the blockbuster painkiller Celebrex, for $450 million, according to a regulatory filing Tuesday. * Wal-Mart Stores will pay $4.8 million in back wages and damages to more than 4,500 employees nationwide for unpaid overtime, the Labor Department said Tuesday. * Of all the people rocked by the debt and austerity tumult rattling Europe, the famously prudent but prosperous Dutch were seldom on anybody's watch list. Until now. This bastion of probity became a flash point of euro zone turmoil last week, when the government fell in a showdown over how to cut the budget to keep the nation from getting caught in Europe's long-running debt crisis.

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