PRESS DIGEST - New York Times business news - March 17

lunes 17 de marzo de 2008 08:09 CET

March 17 (Reuters) - The following were the top stories in the New York Times business pages on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

* Hoping to avoid a systemic meltdown in financial markets, the Federal Reserve approved a $30 billion credit line to engineer the takeover of Bear Stearns BSC.N and announced an open-ended lending program for the biggest investment firms on Wall Street.

* In a shocking deal reached to save Bear Stearns BSC.N, JPMorgan Chase & Co (JPM.N: Cotización) agreed to pay a mere $2 a share to buy all of Bear - less than one-tenth the firm's market price on Friday.

* Investors are bracing for another volatile week in the markets as bankers and policy makers deal with the fallout from their bid to rescue Bear Stearns BSC.N.

* Alitalia AZPIa.MI, the money-losing Italian airline, accepted a 747 million-euro takeover offer from Air France-KLM (AIRF.PA: Cotización), seizing an 11th-hour financial lifeline.

* A judge has ordered a USA Today reporter to pay fines of up to $5,000 a day if she continues to withhold names of sources she used for a story on the 2001 anthrax attacks.

* After more than 70 years, Consumer Reports has decided that a review isn't enough for a bad product - it deserves a provocative ad campaign, too.