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PRESS DIGEST- New York Times business news - Oct 7
October 7, 2016 / 5:30 AM / a year ago

PRESS DIGEST- New York Times business news - Oct 7

Oct 7 (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 CIT Group Inc, a commercial lender, agreed on Thursday to sell its aircraft leasing business to a Chinese-owned competitor for about $10 billion, signifying a big step by CIT to slim itself down in the face of pressure from investors.

- Mars Inc has finally taken full control of Wrigley, formally putting M&Ms and Altoids mints in the same division - and cashing out its partner, Warren Buffett, in the process.

- Deutsche Bank AG said on Thursday that it would eliminate 1,000 full-time positions in Germany as part of job cuts the embattled lender first announced last year.

- The six-day courtroom confrontation between Maurice Greenberg and lawyers for New York State accusing him of orchestrating sham transactions as chief executive of American International Group Inc 16 years ago ended Thursday without any knockout blows.

- In the six weeks since federal agents raided a suburban Maryland home and arrested Harold Martin III on suspicion of stealing classified information from the National Security Agency, another organization has quietly prepared to face the fallout: Booz Allen Hamilton, Martin's employer.

Compiled by Subrat Patnaik in Bengaluru

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