PRESS DIGEST – New York Times business news – Aug 18

Aug 18 (BestGrowthStock) – The following were the top stories in
The New York Times business pages on Wednesday. Reuters has not
verified these stories and does not vouch for their accuracy.

* The money for schools to rehire teachers, counselors and
support workers is instead being set aside by school districts
worried about cuts to come in the current school year.

* A fight at an apple juice plant in upstate New York pits
a company earning record profits against workers determined to
resist cuts.

* Potash Corp of Saskatchewan (POT.TO: ), on Tuesday rejected
a $38.6 billion cash offer from BHP Billiton (BHP.AX: ) (BLT.L: ),
the world’s largest mining company. Yet the unsolicited offer,
which would be the biggest takeover so far this year, raised
investors’ hopes of a revival in deals, bolstering stocks
worldwide.

* Eli Lilly and Co (LLY.N: ) halted two late-stage clinical
trials of an experimental Alzheimer’s treatment on Tuesday,
representing a setback to one leading theory on treating the
degenerative disease and a new blow to Lilly’s business
prospects.

* Treasury Secretary Timothy F. Geithner said continued
government support was important “to make sure that Americans
can borrow at reasonable interest rates to buy a house even in
a downturn.”

* Regulators, suspecting that banks and trusts are secretly
repackaging old loans and moving them off bank balance sheets,
are concerned that financial institutions in China may have
engaged in the same sort of financial engineering that got
Western banks into trouble.

* Shenzhen Huashi Future Parking Equipment, a Chinese
company has developed a vehicle that can carry up to 1,200
passengers, takes up no road space and is partially
solar-powered.

* In a potential turning point for Hollywood’s efforts to
tap digital advertising dollars, the Starcom MediaVest Group
has struck a deal that could exceed $100 million with a group
of upstart entertainment Web sites.

* Dell Inc’s (DELL.O: ) shareholders delivered a sharp rebuke
of Michael S. Dell, the company’s founder and chief executive,
when a fourth of the investors withheld support of Mr. Dell in
a recent vote.

* Steeper price-slashing did not lure customers into
spending more at Wal-Mart Stores Inc (WMT.N: ), while shoppers at
Home Depot Inc (HD.N: ) spent less and put off big home
improvement projects or big-ticket items like appliances.

* Indian officials and Research In Motion (RIM.TO: ), the
maker of popular BlackBerry devices, appear to be making
progress toward resolving a battle over the government’s
ability to monitor encrypted e-mail and instant messages.

* General Motors Co [GM.UL] said Tuesday that it was
recalling 243,000 large crossover vehicles to check for a
problem that could prevent their rear seat belts from latching
safely.

* Consumer-price inflation in Britain remained above the
government’s limit in July, according to data released on
Tuesday, forcing the head of the Bank of England to send his
third letter this year to the Treasury to explain why inflation
missed the target.

* A judge in Spain opened an investigation into whether
Google Inc (Read more about Google Stock Analysis) (GOOG.O: ) unlawfully collected data from unsecured
wireless networks while gathering photographs for Google’s
photo-mapping service Street View.

* The troubles facing American Apparel Inc (APP.A: ) grew
Tuesday as the retailer said that it had received a federal
subpoena over its change in accounting firms.

* Taiwan’s Parliament passed a trade deal with China on
Tuesday, the most significant agreement between the political
foes of 60 years and one that binds Taiwan’s economy to the
mainland while opening doors to other countries.

PRESS DIGEST – New York Times business news – Aug 18