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9 years ago
PRESS DIGEST - New York Times business news - June 24
June 24, 2008 / 5:27 AM / 9 years ago

PRESS DIGEST - New York Times business news - June 24

3 Min Read

June 24 (Reuters) - 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.

* General Motors Corp (GM.N) said on Monday that it would offer long-term, no-interest loans on most models through June 30. GM also said it would cut production of slow-selling pickups and SUV's by an additional 170,000 vehicles this year and increase by about 50,000 its output of fuel-efficient cars and crossovers, which are in short supply at many dealerships.

* Home Depot Inc (HD.N), the nation's second-largest retailer, will announce on Tuesday that it will take back old compact fluorescents in all 1,973 of its stores in the United States, creating the nation's most widespread recycling program for the bulbs.

* More than 840 of the largest American corporations reaped a $265 billion windfall thanks to a one-time tax break aimed at bringing home profits stashed overseas, according to recent government data.

* Apollo Management and two of its founders, Leon Black and Joshua Harris, were sued on Monday by the Huntsman Corp (HUN.N), accused of interfering in the company's $10.6 billion merger with an Apollo company, Hexion Specialty Chemicals.

* Leonard Downie Jr. will step down after 17 years as the top editor of The Washington Post, he told his newsroom staff on Monday, making way for a generational transition under a new publisher, Katharine Weymouth, at a time of financial and technological strain for newspapers.

* Republic Services Inc (RSG.N) said on Monday that it would acquire Allied Waste Industries Inc AW.N for $6.07 billion in stock, uniting two of the largest companies in the waste disposal industry.

* The fertilizer and oilseed processor Bunge Ltd (BG.N) said on Monday that it would buy Corn Products International Inc CPO.N for $4.4 billion in stock, seeking to better compete against other American agricultural giants.

* The New York Times Co (NYT.N) is developing plans to merge the Web site of the International Herald Tribune with that of The New York Times, in a bid to expand their global reach and deepen their appeal to advertisers. Top executives of both newspapers said on Monday that they intended to create a "co-branded international home page" that would replace iht.com, the existing Web site of the International Herald Tribune.

* The European Commission on Monday opened its voluntary registry for the thousands of lobbyists and special interest organizations operating in Brussels, aiming to shed more light on a group that seeks to influence regulations on everything from computer software to greenhouse gas emissions.

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