PRESS DIGEST - New York Times business news - Jan 9
Jan 9 (Reuters) - The following were the top stories in the New York Times business pages on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.
* James Cayne ended his tumultuous 14-year run as chief executive of the battered Bear Stearns Cos Inc BSC.N, passing the baton to Alan Schwartz.
* Shares tumbled late Tuesday after the head of AT&T Inc (T.N: Cotización) suggested that consumers might be cutting back and Countrywide Financial Corp CFC.N denied that it was tumbling into bankruptcy.
* KB Home (KBH.N: Cotización), the large home builder, said that its fourth-quarter loss swelled as the housing slowdown led to fewer sales and lower revenue.
* Citigroup Inc (C.N: Cotización), badly bruised by the sharp downturn in the housing market, is bringing its mortgage-related activities under one roof.
* Microsoft Corp's (MSFT.O: Cotización) $1.2 billion bid for a Norwegian search software company is seen as an effort to add tools to its lucrative Office products and fend off Google Inc (GOOG.O: Cotización).
* Silver Lake, the largest technology-focused private equity firm, has reached a deal to sell a 9.9 percent stake to the California Public Employees' Retirement System for about $275 million, according to people briefed on the deal.
* Some prominent advertisers have pulled their sponsorships for NBC's strike-subdued Golden Globes coverage and others were weighing their options, media buyers said Tuesday.
* U.S. Treasury secretary Henry Paulson said the administration was in talks with the mortgage industry to expand a program that freezes adjustable rate mortgages for 5 years to include borrowers of loans at prime rates. Continuación...