Reuters: Regulatory News: PRESS DIGEST-New York Times business news - Sept 6

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PRESS DIGEST-New York Times business news - Sept 6 Sep 6th 2013, 04:38 Sept 6 | Fri Sep 6, 2013 12:38am EDT Sept 6 (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 Group of 20 summit meeting is expected to enact laws that would tighten rules for multinational companies that use subsidiaries in certain countries to legally avoid paying taxes. () * David Blech, who was once hailed as the king of biotechnology and was worth about $300 million, is about to begin a four-year prison term, having pleaded guilty to stock manipulation. () * Activist investors scored another victory on Thursday when the board of Timken Co agreed to spin off its steel business from its industrial bearings operations amid pressure from two big shareholders. () * The publisher and editor of The Las Vegas Sun, Brian Greenspun, is suing to block a deal that could force the newspaper to close. () * Russian Internet company Mail.ru has sold its remaining stake in Facebook for about $525 million, benefiting from a strong rebound in its share price. () * The National Security Agency has secretly circumvented or cracked much of the digital scrambling that protects global commerce, e-mails, phone calls, medical records and Web searches. () * Bangkok-based trader Badin Rungruangnavarat has agreed to pay $5.2 million to settle charges that he traded on insider information tied to Smithfield Foods' proposed $4.7 billion sale to a Chinese food processor, the Securities and Exchange Commission announced on Thursday. () * Anchor BanCorp Wisconsin, a small bank holding company in Wisconsin, plans to use Chapter 11 to recapitalize, not to liquidate as typically happens. The company hopes to use the bankruptcy to save its bank, AnchorBank. () * Brazil's securities and exchange commission says it has opened a new formal investigation into the business dealings of onetime billionaire Eike Batista and five other executives of the petroleum company OGX. () * Alliant Techsystems agreed on Thursday to buy Bushnell Group Holdings, a top maker of gun accessories like rifle scopes, for $985 million in cash. The deal is one of the first since the Newtown, Connecticut school shooting, an incident that has put pressure on some owners of gun manufacturers and related products to sell their holdings. () * Line, which has hundreds of millions of users in Asia and parts of Europe and Latin America, is beginning a push into the United States. () Link this Share this Digg this Email Reprints

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