PRESS DIGEST-New York Times business news - Nov 9

Fri Nov 9, 2012 6:44am GMT

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Nov 9 (Reuters) - The following are the top stories on the New York Times business pages on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

* Inflation slowed further in China last month, the Chinese government said on Friday morning, leaving further room for the Chinese government to continue heavy lending by the country's state-owned banks to rekindle economic growth without stoking a broad increase in prices. ()

* The president of the European Central Bank expressed satisfaction Thursday with progress toward resolution of the euro zone crisis, applauding "amazing" efforts by members of the currency union to reduce government spending. ()

* JPMorgan Chase & Co disclosed on Thursday that it had received the green light from regulators to buy back as much as $3 billion of its stock in the first quarter of next year, another sign that the nation's largest bank is moving beyond a multibillion-dollar trading loss it suffered on a soured derivatives bet. ()

* Priceline.com Inc said it will buy Kayak Software Corp for $1.8 billion in cash and stock. ()

* Sanofi said on Thursday that it would effectively cut in half the price of a new cancer drug after a leading cancer center said it would not use the drug because it was too expensive. ()