PRESS DIGEST – New York Times business news – Aug 30

Aug 30 (BestGrowthStock) – The following were the top stories in
The New York Times business pages on Monday. Reuters has not
verified these stories and does not vouch for their accuracy.

* As regulators investigate the causes of the Deepwater
Horizon disaster, the broader dangers posed by the oil
industry’s push into deeper waters have gone largely

* Ads tailored to online shoppers based on the products
they have perused are leaving consumers with an eerie feeling.

* Just 4 percent of Americans have tried location-based
services, and 1 percent use them weekly, according to Forrester
Research. Eighty percent of those who have tried them are men,
and 70 percent are between 19 and 35.

* Now used by more big technology companies, open-source
software has become a weapon in corporate warfare.

* The Billboard 200 chart is facing new competition in an
era when artists can be a hit even if their albums aren’t.

* U.S. Federal Reserve chairman, Ben S. Bernanke, who has
assiduously avoided taking sides in fiscal debates, said on
Friday that the central bank stood ready to use a variety of
tools to forestall deflation, a broad decline in prices. But he
made it clear that the Fed could not simply conjure up a
recovery by manipulating interest rates and the money supply.

* Japan’s central bank announced new measures to combat a
faltering economy and rising yen on Monday, but held off from
bolder steps, while the government said it would unveil a fresh
stimulus plan.

* While China owes its rapid growth to private business, it
is often the state’s companies that are on the march, in part
because of state-bank financing and stimulus spending.

* Intel Corp (INTC.O: ) was near a deal late on Sunday to
acquire the wireless chip unit of Infineon Technologies
(IFXGn.DE: ), whose products are used in the Apple iPhone and
other smartphones, for more than $1 billion, people involved in
the negotiations said.

* Iran has transferred assets out of European banks in its
latest effort to defend itself against the effects of sanctions
that are part of what Iranian officials have called an
“economic war” against the country by the United States and
other Western countries.

* Sanofi-Aventis (SASY.PA: ), the French drug maker, publicly
disclosed its $18.5 billion bid for Genzyme Corp (GENZ.O: ) on
Sunday, intensifying pressure on the American biotechnology
company to engage in discussions about a sale.

* While the world was focused on the oil spill in the Gulf
of Mexico, a BP Plc (BP.L: ) refinery in Texas City released huge
amounts of toxic chemicals into the air that went unnoticed by
residents until many saw their children come down with
respiratory problems.

* A team of researchers from Carnegie Mellon University has
found that people’s decisions to reveal information about
themselves online can depend on unexpected and even irrational

* The only new start-up bank to open in the United States
this year operates out of a secondhand double-wide trailer, on
a bare lot in front of the cavernous Trinity Baptist Church. A
blue awning covers the makeshift drive-through window.

* The Obama administration plans to take two new steps in
the next few weeks to help struggling homeowners pay their
mortgages, said Shaun Donovan, the secretary of Housing and
Urban Development.

PRESS DIGEST – New York Times business news – Aug 30