Wednesday, June 27, 2012

Reuters: Regulatory News: PRESS DIGEST-New York Times business news - June 28

Reuters: Regulatory News
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PRESS DIGEST-New York Times business news - June 28
Jun 28th 2012, 05:54

June 28 | Thu Jun 28, 2012 1:54am EDT

June 28 (Reuters) - The following were the top stories on the New York Times business pages on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.

- Roughly six years after the U.S. housing market began its longest and deepest slide since the Great Depression, home sales and an increase in sales prices indicate that the market is recovering.

- Peter Madoff, the younger brother of the convicted fraudster Bernard Madoff, is expected to plead guilty to securities fraud, according to a court filing made by prosecutors on Wednesday.

- With its wireless Nexus Q home media player, Google Inc is resisting the accepted wisdom that consumer electronics products can no longer be built in the United States.

- Google Inc sees the promise in hardware. The focus on hardware is a strategic shift for the company as it aims to create additional revenue from Google-branded devices, while protecting its core search business as competitors hover.

- Barclays Plc will pay over $450 million in regulatory deal. The British bank struck a deal to resolve accusations that it tried to manipulate key interest rates, the first settlement in a sprawling global investigation.

- News Corp appears to be moving closer to dividing into two entities, one that would include its lucrative entertainment assets and a smaller one featuring its newspapers.

- The first prescription diet pill in 13 years to gain Food and Drug Administration approval, Belviq, gives the roughly one-third of American adults considered obese a new option.

- Spain and Cyprus may be the current locus of European anxiety, but many other banks are in a weakened state, cut off from money markets because investors do not trust them.

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