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PRESS DIGEST- New York Times business news - Jan 22
January 22, 2015 / 5:56 AM / 3 years ago

PRESS DIGEST- New York Times business news - Jan 22

Jan 22 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.

* In the face of European Union opposition to the South Stream pipeline project, Gazprom is moving to an alternate route. While some analysts doubt the feasibility of Turkish Stream, others say a route to Turkey makes strategic and economic sense. Russia would solidify its position in that country, a fast-growing gas market that is already Gazprom's second-largest gas customer in the European region after Germany. (nyti.ms/1BINcCJ)

* Microsoft Corp unveiled an unexpected new headset at a Windows 10 event on Wednesday. The headset allows interaction with holographic images, enabling people to play video games, build 3D models and hold immersive videoconferences with colleagues. (nyti.ms/1yI89Mf)

* U.S. President Barack Obama's push for a new "middle-class economics" may go nowhere in Congress, but his ambitious array of proposals to raise stagnant incomes and provide more government support for struggling working families will frame his last two years in office and help make the politics of rich and poor a central issue in the campaign to succeed him. (nyti.ms/1AR2IqV)

* Goldman Sachs Group Inc has found ways to put its money to work in formats that appear to comply with the Volcker Rule, but its investments have caused concern among some of its big clients. (nyti.ms/15BQNWd)

* Top financial regulators on Wednesday discussed ways to improve how so-called too-big-to-fail institutions are singled out for closer supervision, but they stopped well short of reversing any designations made so far. (nyti.ms/1t0BccQ)

* New York State's top law enforcer has claimed that Barclays Plc made a false statement in court documents and that it defied subpoenas seeking the testimony of two executives, a move that builds on a previous lawsuit over the bank's private stock trading platform. (nyti.ms/15v1uce)

* Standard & Poor's, the credit rating agency blamed for helping inflate the subprime mortgage bubble, has settled accusations that it orchestrated a similar fraud years after the bubble burst. S&P has agreed to settle an array of government investigations stemming from 2011, paying nearly $80 million and admitting some misdeeds, federal and state authorities announced on Wednesday. (nyti.ms/1uw94PT)

* Facing stiff competition and the declining growth of its auctions business, eBay Inc announced a shakeup of the company on Wednesday, saying it planned to cut 2,400 positions, or 7 percent of its global work force. (nyti.ms/15v2jBQ)

* Kinder Morgan Inc said on Wednesday that it had agreed to buy Hiland Partners LP, an oil pipeline and gathering company owned by the billionaire Harold Hamm, for about $3 billion, expanding its presence in the oil-rich Bakken rock formation in the northern United States. (nyti.ms/1Jb3tBm)

* Uber, the popular ride-hailing start-up, has closed $1.6 billion in financing from clients of Goldman Sachs Group Inc's private wealth arm, the investment bank confirmed on Wednesday. (nyti.ms/1CCvayJ) (Compiled by Rama Venkat Raman in Bengaluru)

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