PRESS DIGEST - New York Times business news - March 19

jueves 19 de marzo de 2009 06:33 CET

March 19 (Reuters) - The following were the top stories in the New York Times business pages on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.

* The U.S. Federal Reserve sharply stepped up its efforts to bolster the economy, announcing that it would pump an extra $1 trillion into the financial system by purchasing Treasury bonds and mortgage securities.

* At a highly charged Congressional hearing, Edward Liddy of American International Group Inc (AIG.N: Cotización) said he had asked employees making more than $100,000 a year who just shared in a $165 million bonus payout to give half the money back, reflecting the public and political disgust at the idea of rewarding the same people who had helped drive the company and the economy into distress.

* Andrew Cuomo, the New York attorney general, won a legal battle to compel Bank of America Corp (BAC.N: Cotización), which bought Merrill in December, to provide his office with the names of the Merrill employees with the 200 largest bonuses. Cuomo said he would make the names public as early as Thursday.

* The federal investigation into Bernard Madoff's $65 billion Ponzi scheme widened with the arrest of an accountant who had audited Madoff's investment advisory business for more than a decade.

* IBM's (IBM.N: Cotización) interest in acquiring the server computer maker Sun Microsystems Inc JAVA.O for nearly $7 billion may seem at first to be a reversal of its recent efforts to move away from the hardware business. But analysts say there is more to Sun than servers, which are used in corporate data centers.

* A private equity firm has bought The San Diego Union-Tribune, the two sides said, ending eight decades of Copley family dominance of that city's news media.