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PRESS DIGEST- New York Times business news - July 29
July 29, 2016 / 6:26 AM / a year ago

PRESS DIGEST- New York Times business news - July 29

July 29 (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.

- Google's parent, Alphabet's second-quarter revenue rose to $21.5 billion, about $750 million more than analysts were predicting and a 21 percent jump from a year earlier. Earnings per share after excluding certain items was $8.42, or 39 cents more than forecasts. Alphabet's shares immediately rose 4 percent after hours.

- The legal battle over whether Sumner Redstone has the mental capacity to make decisions about his $40 billion media empire, which includes Viacom and CBS, is scheduled to go to trial in October in a Massachusetts court house. In a ruling on Thursday, a court rejected motion by Redstone's lawyers to dismiss the lawsuit, but said there was no need to conduct an immediate mental and physical exam of him.

- Oracle is buying NetSuite, a cloud company in which he controls a 45 percent stake, for $9.3 billion, a whopping 44 percent premium to where the shares were trading before news reports first mentioned a possible deal.

- The French utility EDF said that its board had approved a plan to build the first nuclear power plant in Britain in a generation. The project for the state-controlled utility has long been contentious and critics have slammed it as an expensive and risky route to securing emission-free electricity. (Compiled by Sangameswaran S in Bengaluru)

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