PRESS DIGEST – New York Times business news – Nov 16

Nov 16 (BestGrowthStock) – The following were the top stories in
The New York Times business pages on Tuesday. Reuters has not
verified these stories and does not vouch for their accuracy.

* European officials, increasingly concerned that the
Continent’s debt crisis will spread, are warning that any new
rescue plans may need to cover Portugal as well as Ireland to
contain the problem they tried to resolve six months ago.

* In a rare on-the-record interview, William Dudley, the
President of the Federal Reserve Bank of New York said the U.S.
Federal Reserve’s program to inject $600 billion more into the
sagging economy was not intended to affect the dollar’s value,
but rather to encourage a faster, stronger recovery that will
also assist international growth.

* With many American companies manufacturing abroad, the
effect on exports of a weak dollar is diminished.

* Apple Inc (Read more about Apple stock future.) (AAPL.O: ) is expected to announce a deal with
the Beatles, the best-selling band of all time, and their
record company, EMI, to sell their music on iTunes.

* In California’s Simi Valley, 4,000 employees of Bank of
America Corp (BAC.N: ) handle 50,000 calls a day about mortgages
and homes in peril.

* First it was the Ford Motor Co (F.N: ) that convinced
skeptical investors that the Detroit automakers could make big
profits again. Now General Motors is riding the same wave of
investor enthusiasm, and is likely to fetch a higher price than
previously anticipated for its initial public stock offering,
expected on Thursday.

* Mark Zuckerberg, Facebook’s chief executive, introduced a
new unified messaging system for Facebook that allows people to
communicate with one another on the Web and on mobile phones
regardless of whether they are using e-mail, text messages or
online chat services.

* Russian energy giant Gazprom (GAZP.MM: ) has joined a
growing list of companies that plan to drill for oil in the
waters off Cuba, close to the United States but out of reach of
its safety regulators.

* The Pension Benefit Guaranty Corp disclosed that it paid
about $5.6 billion to retirees in its last fiscal year, about
22 percent more than in 2009. Even though the government
pension agency made sharply higher payments to retirees of
bankrupt companies last year, it is using new legal tools to
make hobbled companies carry more of the burden and protect
itself.

* One of every seven Medicare beneficiaries who is
hospitalized is harmed as a result of problems with the medical
care there, according to a new study from the Office of
Inspector General for the Department of Health and Human
Services.

* Sales at the nation’s retailers and food service
establishments rose in October, according to government figures
released on Monday, providing a glimmer of hope that consumer
spending was set to improve in the fourth quarter.

PRESS DIGEST – New York Times business news – Nov 16