PRESS DIGEST - New York Times business news - Sept 11

jueves 11 de septiembre de 2008 08:36 CEST

Sept 11 (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.

* Lehman Brothers Holdings Inc's LEH.N fortunes dwindled further on Wednesday as the Wall Street investment bank, staggered by the biggest loss in its 158-year history, fought to regain confidence among investors.

* As Wall Street scoured the financial industry for the next weakest link after Lehman Brothers, it set its sights on a familiar target: Washington Mutual Inc (WM.N: Cotización), the nation's largest savings and loan. Shares of the troubled lender plunged 30 percent, falling below $3 for the first time since 1991.

* The Interior Department agency that collects oil and gas royalties has been caught up in a broad ethics scandal -- including allegations of financial self-dealing, accepting gifts from energy companies, cocaine use and sexual misconduct.

* Saudi Arabian officials assured world markets that they would continue to pump as much oil as needed.

* Three members of Congress, armed with a new report, are renewing their efforts to exclude many institutional investors from the nation's commodity markets.

* The plan to award six no-bid contracts to Western oil companies had come under sharp criticism from several U.S. senators over the summer.

* A Senate report says that investment banks are marketing complex schemes meant to allow foreign investors to avoid paying billions of dollars in dividend taxes illegally.

* A proposed $25 billion federal loan program to help retool the auto industry would speed the development of alternative-fuel vehicles, a Chrysler executive said.   Continuación...