PRESS DIGEST – New York Times business news – Dec 30

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

* The John Hancock Tower, a 62-story glass skyscraper in
Boston’s Back Bay, was one of the first real estate trophies to
run into trouble when the speculative property boom abruptly
ended two years ago. The remarkable turnaround of the Boston
landmark – a barometer for the commercial real estate boom and
bust – provides a template for other deals.

* Rogue mining operations produce an estimated half of the
world’s supply of the most valuable rare earth minerals. What
is new are efforts by China’s national and provincial
governments to crack down on the illegal mines, to which local
authorities have long turned a blind eye.

* At least 28 flights, carrying thousands of passengers,
became stranded on the tarmac at John F. Kennedy International
Airport, one for close to 11 grueling hours, in the aftermath
of this week’s paralyzing blizzard, officials said. The flights
had one thing in common: they all began outside the United
States.

* The power industry is spending billions to upgrade to a
smart grid from the electric grid, and is hoping to lure a
younger generation of potential employees.

* One uncertainty in the global auto industry is how much
longer Beijing will allow China’s remarkable sales boom to
continue and whether China will export a flood of cars if the
authorities do clamp down.

* The snowstorm that swept through the Northeast kept
shoppers home on Sunday and Monday and delayed about $1 billion
in postholiday spending, according to a report released
Wednesday. Still, retailers will probably reclaim much of that
amount.

* Federal authorities charged Winifred Jiau of California
with conspiracy and securities fraud for providing hedge fund
managers with confidential information about Marvell Technology
Group Ltd (MRVL.O: ) and Nvidia Corp (NVDA.O: ).

* The Navy on Wednesday awarded two companies contracts
that could be worth a total of more than $7 billion to build 20
of its new littoral combat ships, splitting the purchase to
obtain the vessels more quickly.

* More colleges are bringing the trading floor to the
classroom, allowing students to make real-time buy and sell
decisions, just like any Wall Street financier.

PRESS DIGEST – New York Times business news – Dec 30