PRESS DIGEST – New York Times business news – Oct 27

Oct 27 (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.

* GlaxoSmithKline (GSK.L: ), the British drug giant, has
agreed to pay $750 million to settle criminal and civil
complaints that the company for years knowingly sold
contaminated baby ointment and an ineffective antidepressant –
the latest in a growing number of whistle-blower lawsuits that
drug makers have settled with multimillion-dollar fines.

* The United States and Europe should work together with
industry to reduce dependence on China for crucial minerals
because global trade bodies are ill-equipped to solve the
problem of withheld supplies, officials and executives said
Tuesday at a high-level conference.

* UBS (UBSN.VX: ) said on Tuesday that it had reversed a
two-year outflow of cash from its private bank in the third
quarter, but the shares dropped after the Swiss bank reported
that its investment banking division had returned to a
quarterly loss.

* Perceptions of corruption in the United States have
worsened over the past year, knocking it out of the top 20 in
global rankings released Tuesday by the watchdog group
Transparency International in Berlin.

* A compromise intended to preserve the possibility of
building a nuclear plant in Maryland was announced late Tuesday
by Constellation Energy (CEG.N: ), the Baltimore-based company
that had given up on the project, and Electricite de France
(EDF.PA: ), which wants to proceed.

* A surge in third-quarter profit (Read more your timing to make a profit.) is the best evidence yet
that the Ford Motor Co (F.N: ) has moved into a period of
sustained growth – further distinguishing itself from rivals
despite a weak economy and slack overall demand.

* A federal judge in New York issued an injunction on
Tuesday that will essentially shut down LimeWire, the big music
file-sharing service that has been mired in a four-year legal
struggle with the music industry.

PRESS DIGEST – New York Times business news – Oct 27