PRESS DIGEST – New York Times business news – Sept 10

Sept 10 (BestGrowthStock) – The following were the top stories in
The New York Times business pages on Friday. Reuters has not
verified these stories and does not vouch for their accuracy.

* U.S. President Obama on Friday will promote a longtime
economic adviser, Austan D. Goolsbee, to chairman of his
Council of Economic Advisers, signaling continuity even as a
high unemployment rate has left much of the public dissatisfied
with administration policies.

* Apple Inc (Read more about Apple stock future.) (AAPL.O: ) said on Thursday that it would relax
its rules on how software developers can build applications for
its iPhone and iPad. And for the first time it published
detailed guidelines explaining how it decides what programs can
and cannot be sold through its App Store.

* The United Steelworkers union plans to file a legal case
that accuses China of violating World Trade Organization rules.

* U.S. President Obama has named Ron Bloom, a Harvard
M.B.A. who has worked both on Wall Street and in the labor
movement, as a special adviser to help tackle the problem.

* With Democrats in danger of losing control of Congress,
some prominent lobbying shops, trade groups and contractors are
already moving to bring more Republicans on board to bolster
their political fortunes.

* The Environmental Protection Agency sent letters to nine
drilling companies on Thursday requesting detailed information
about the chemicals contained in fluids used to crack open
underground rock formations in the hunt for oil and natural
gas.

* In a move that has met with resistance in Europe, the
United States is pushing to reduce the Continent’s influence
over the International Monetary Fund and grant more of a say to
economies outside of Europe that are growing and leading the
global recovery.

* A year after a disastrous 27 percent decline that
prompted layoffs, salary freezes and a halt to some campus
expansion, Harvard University’s endowment on Thursday reported
a solid 11 percent increase in its $27.4 billion portfolio for
the fiscal year ended June 30.

* Canpotex, which is owned by three Canadian potash
producers including Potash Corp (POT.TO: ), negotiates long-term,
often secret, pricing agreements with offshore customers.

* Beginning this month, The Wall Street Journal will
include a book review insert with its new weekend sections, a
spokeswoman said on Thursday.

* Japan’s economy grew a revised 0.4 percent from April to
June, an increase from the previous quarter and more than an
initial government estimate. But the strong yen and slowing
global growth gave policy makers little to cheer about over the
outlook.

* The British central bank held steady Thursday on its
benchmark interest rate amid new warnings that the recovery
among major economies appeared to be losing steam faster than
anticipated.

* Long-distance domestic bus service has, with a few
exceptions, been outlawed in Germany since 1931. But the ban,
originally intended to protect the state-owned railway system,
is likely to soon fall away under pressure from a recent court
decision and a decision by Chancellor Angela Merkel’s
government to deregulate domestic travel.

* The United States trade deficit narrowed by 14 percent in
July as exports by American companies rose by about $2.8
billion, suggesting that trade would be less of a drag on
growth in the months ahead.

PRESS DIGEST – New York Times business news – Sept 10