PRESS DIGEST – New York Times business news – Dec 15

Dec 15 (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 United States is too reliant on China for minerals
crucial to new clean energy technologies, making the American
economy vulnerable to shortages of materials needed for a range
of green products — from compact fluorescent light bulbs to
electric cars to giant wind turbines. So warns a detailed
report to be released on Wednesday by the U.S. Energy
Department.

* Over the last year, Save the Children emerged as a leader
in the push to tax sweetened soft drinks as a way to combat
childhood obesity. At the same time, executives at Save the
Children were seeking a major grant from Coca-Cola Co (KO.N: ) to
help finance the health and education programs that the charity
conducts here and abroad, including its work on childhood
obesity.

* For foreign manufacturers, competing for China’s
lucrative business means playing by house rules that are often
stacked in Beijing’s favor.

* The U.S. Federal Reserve, batting away unusually fierce
criticisms, forged ahead on Tuesday with its effort to prop up
the economic recovery by buying $600 billion in Treasury bonds.
But interest rates on government bonds continued to march
upward, appearing to defy one of the Fed’s goals for the
bond-buying program: lowering long-term interest rates.

* Republican members of a panel examining the causes of the
financial crisis are expected to blame housing policies.

* Federal prosecutors accused a Swiss banker of advising
wealthy American clients to avoid disclosing their hidden
offshore accounts held at a small Swiss bank.

* On Wednesday, a securities exchange in Moscow is
scheduled to open direct trading between the currencies of
China and Russia for an hour a day.

PRESS DIGEST – New York Times business news – Dec 15