Reuters: Regulatory News: PRESS DIGEST-New York Times business news - June 26

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PRESS DIGEST-New York Times business news - June 26 Jun 26th 2013, 04:36 June 26 | Wed Jun 26, 2013 12:36am EDT June 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. * Chinese investors have been buying marquee commercial properties in New York and other American cities. The deals go beyond shimmering glass-and-steel towers: Chinese and Hong Kong investors have also become the second-largest foreign buyers of United States homes. * The Standard & Poor's Case-Shiller home price index on Tuesday showed a 12 percent increase in prices in 20 cities from April 2012 to April 2013, the largest gain since early 2006, when home values began to level off in advance of the market collapse. () * The Chinese central bank reassured investors worried about a lingering credit squeeze and declared that it had already been selectively supporting bank liquidity, as Chinese stock markets swung wildly again Tuesday after several days of volatility. () * In the financial equivalent of the Tortoise and the Hare, Royal Bank of Canada has risen up the ranks of the biggest stock trading firms in the United States by embracing a rather Canadian restraint and prudence. The bank has made inroads with a technology that it says delays trades just enough to defuse the advantages sought by high-speed traders. () * After almost a week of silence on why Men's Wearhouse fired founder George Zimmer as chairman, the clothing retailer said on Tuesday that it was because of a power struggle with the board. () * Car-sharing services that don't require users to return a vehicle to a lot are already popular in Berlin, and have now come to many cities in the United States. () * A plan developed by the Greek government and its international creditors to recapitalize the country's banks involves an unusual twist as stock offerings go: the new shares in the banks will give investors free and potentially lucrative warrants that will entitle them to buy many more shares in the future at a predetermined price. () * Senators pick their battles, and by Tuesday, members in both parties had decided not to have one with President Obama over his nomination of Penny Pritzker, the billionaire hotel heiress, to be commerce secretary. In a 97-to-1 vote, they confirmed her to join the cabinet. () * Search engine companies should more clearly distinguish on their webpages between advertising, paid content and the results of an Internet search, the Federal Trade Commission told two dozen search engine providers on Tuesday. () * The Food and Drug Administration announced on Tuesday that for the first time it had begun exercising its power to regulate cigarettes and other tobacco products, an authority it was given under a 2009 law supported by President Obama. () * BP is placing full-page advertisements in three of the nation's largest newspapers on Wednesday as the company mounts an aggressive campaign to challenge what could be billions of dollars in settlement payouts to businesses after its 2010 oil spill in the Gulf of Mexico. () * Until recently, ads with lesbian, gay, bisexual and transgender (LGBT) themes were usually limited to media those consumers watched and read. However, LGBT ads have been getting broader exposure now. While targeted media and events remain part of the game plan, they are also running in mainstream media. () * Google Ventures does things differently from most venture capital firms, like seeking investment advice from all its staff and sharing carried interest with everyone in the firm, not just partners. () Link this Share this Digg this Email Reprints

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