September 4, 2015 / 4:21 AM / in 2 years

PRESS DIGEST- New York Times business news - Sept 4

Sept 4 (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.

- Mario Draghi, the president of the European Central Bank, pledged on Thursday to intervene by increasing economic stimulus spending if the turmoil in the global economy continues. But the central bank will not act until it has more information about the effect of a slowdown in emerging markets and other risks, Draghi said at a news conference. (nyti.ms/1JRQmr1)

- The lawyers for three former executives of Dewey & LeBoeuf must feel confident that prosecutors have failed to prove that the men used accounting gimmicks to defraud lenders and creditors of the once-prominent New York law firm. The defense team plans to formally rest its case on Tuesday without calling a single witness to testify in the criminal trial, which began in late May. (nyti.ms/1UqHDD8)

- Philip A Falcone, the brash hedge fund titan who once managed $26 billion before stumbling and running afoul of regulators, is pressing ahead on a new comeback effort, his second. His latest investment platform is a publicly traded company with $800 million in assets called HC2 Holdings Inc . (nyti.ms/1OflznF)

- China's biggest rail manufacturing company is setting its sights on the United States. It broke ground on Thursday for a $60 million plant in Springfield, Massachusetts, that will assemble new cars for Boston's subway system. The state-owned company, the China Railway Rolling Stock Corporation, or CRRC, is the first Chinese rail car manufacturer to win a major transit contract in the United States. (nyti.ms/1KNZPjP)

- Economic slowdowns in Russia and China have put energy deals between the countries in question, affecting the once-vaunted relationship between the Chinese president, Xi Jinping, and Russia's leader, Vladimir Putin. (nyti.ms/1NdTPTu)

Compiled by Parikshit Mishra in Bengaluru

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