PRESS DIGEST – New York Times business news – May 19

May 19 (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 Securities and Exchange Commission said Tuesday that
it would temporarily institute circuit breakers on all the
stocks in the Standard & Poor’s 500-stock index after the huge
market gyrations on May 6.

* As Congress considers new limits on oil drilling off the
American coast, pressure is increasing to rely more heavily on
Canada’s oil sands for energy.

* Senate Republican leaders on Tuesday unleashed a barrage
of criticism at the far-reaching financial regulatory
legislation being debated on the Senate floor, indicating that
many of the party’s leaders were prepared to vote against the
bill.

* Cabinet ministers from Canada’s Conservative government
fanned out across the world on Tuesday to lobby against
proposals for a global tax to cover the cost of bank bailouts.

* The European Union transferred a first installment of
funds to Greece on Tuesday, even as differences erupted among
member states over how to manage the much bigger support
package for the entire euro zone.

* Home building rose in April, government figures showed on
Tuesday, as activity was possibly spurred by an $8,000
government tax credit for new buyers. But the data suggested
that builders might also be slowing their future construction
plans.

* It was an encouraging start to the year for a broad swath
of the nation’s retailers. Major chains like Home Depot Inc
(HD.N: ) and Saks Inc (SKS.N: ) reported earnings on Tuesday that
suggested the beginnings of a rebound in categories hit hard by
the recession, like home improvement and luxury goods.

* Twitter is set to get a big boost in Japan, one of its
biggest and fastest-growing markets, after the Japanese
cellphone carrier Softbank on Tuesday announced new handsets
designed to link to the microblogging site, part of a major
effort by Softbank to get a piece of America’s tech savvy.

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PRESS DIGEST – New York Times business news – May 19