June 18, 2013 / 5:17 AM / 4 years ago

PRESS DIGEST-New York Times business news - June 18

June 18 (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.

* The fiscal crisis in Michigan is setting up as a gigantic clash between bondholders and city retirees over what money Detroit has left to pay them. Public finance experts have warned that broad societal problems could follow a loss of faith in municipalities’ commitments to honor their pledges.


* On Tuesday, MTV will introduce its latest deep dive into generational behavior: a nationwide study of 1,800 “young millennials.” The findings will be presented to marketers and MTV programmers to help show how the channel and its sponsors can speak to the younger end of the audience.


* Over the weekend, Facebook and Microsoft released reports about the overall number of data requests they had received from United States law enforcement agencies. On Monday, Apple Inc and Yahoo joined the chorus. But rather than provide clarity, some of the disclosures have left many questions unanswered.


* Independent reviews of clinical trial data concluded that Medtronic Inc’s Infuse, a bioengineered bone product, was not significantly better than a traditional bone graft, and that it might pose risks. ()

* European Union leaders and United States President Barack Obama announced on Monday the start of negotiations for a far-reaching trans-Atlantic trade deal, but French indignation over recent remarks by a high-ranking Brussels official created a sideshow at the Group of 8 meeting.


* David Green, the director of Britain’s Serious Fraud Office, plans to revive the agency’s reputation with a criminal investigation into the rigging of the Libor.


* Pharmaceutical companies that pay rivals to keep less-expensive generic versions of best-selling drugs off the market can expect greater federal scrutiny after a Supreme Court ruling on Monday. ()

* Eddy Cue, a senior vice president at Apple Inc, denied the government’s charges that the company was working with e-book publishers to raise prices. ()

* Davis Polk & Wardwell has hired Jon Leibowitz, former chairman of the Federal Trade Commission, a coup for the law firm as it bolsters its increasing presence in Washington. ()

* After several years of intense demand for smaller, single-aisle workhorses, European plane maker Airbus on Monday secured a customer for its twin-deck A380 superjumbo jet, in a deal the company hoped would signal a revival in interest in larger passenger jets. ()

* LinkedIn Corp’s Influencers program, which consists of people in leadership positions posting about their lives and careers, has transformed viewer engagement on the site, its chief executive said.

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