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PRESS DIGEST-New York Times business news - July 25
July 25, 2012 / 6:14 AM / 5 years ago

PRESS DIGEST-New York Times business news - July 25

July 25 (Reuters) - The following were the top stories on the New York Times business pages on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

* In a move that could lay bare the inner workings of the consumer data industry, eight members of Congress have opened a sweeping investigation into data brokers - companies that collect, analyze and sell billions of details annually about consumers' offline and online activities.

* John Atta Mills, the president of Ghana, died at a military hospital in the capital, Accra, five months short of finishing his first term in office. He was 68.

* Andy Coulson and Rebekah Brooks, both former editors of The News of the World, and the six others against whom criminal charges were laid, may face possible prison terms of up to two years if convicted.

* Square, the mobile payments start-up best known for its pint-size credit card reader, is close to raising roughly $200 million, which would give the company an implied valuation of $3.25 billion, people briefed on the matter said.

* John Kinnucan, founder of Broadband Research, based in Portland, Ore, who gained notoriety for taunting the federal government over its pursuit of insider trading is expected to plead guilty in the U.S. District Court, according to people briefed on the matter.

* Uncertainties about Netflix Inc's subscriber growth scared investors after the company reported a return to profitability in the second quarter of the year.

* The Congressional Budget Office said that the Supreme Court decision on President Obama's health care overhaul would probably lead to an increase in the number of uninsured and a modest reduction in the cost to the federal government when compared with estimates before the ruling.

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