March 24, 2008 / 7:10 AM / 11 years ago

PRESS DIGEST - New York Times business news - March 24

March 24 (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.

* JPMorgan Chase & Co (JPM.N) was in talks for a deal that would quintuple its offer for Bear Stearns Cos Inc BSC.N in an effort to pacify angry Bear shareholders, according to people involved in the negotiations.

* New York is accustomed to job losses on Wall Street. They come with just about every economic slump, and their impact is felt throughout the city. But now, as the city braces for a big contraction in the financial sector as a result of the credit crisis and the collapse of Bear Stearns, the fallout could be worse than in the past.

* About two-thirds of the income from Elisabeth Murdoch’s burgeoning television empire is expected to come from the United States. By combining Reveille, which has produced the hit shows ‘The Office’ and ‘Ugly Betty’ with her company, Shine Ltd, Murdoch now has a foothold in the world’s most important media playground and the beginnings of her own global entertainment business (the family’s second).

* Google Inc’s (GOOG.O) new search-within-search feature has sparked fears from publishers and retailers that users will be siphoned away through ad sales to competitors.

* There may be panic on Wall Street, but Doubledown Media, publisher of magazines for the wealthy, says its business and readers are largely immune to the problems.

* Toyota Motor Co’s (7203.T) Scion enthusiasts will have even more “me time”: a marketing campaign aimed at showing just how much their chosen vehicle reflects their personality. Toyota will let Scion owners design their own personal “coat of arms” online, a piece of owner-generated art that is meant to reflect their job, hobbies and karma.

* Iraq coverage by major American news sources has dropped to about one-fifth of what it was last summer, according to a survey.

* Journalist Anita Busch, whose report of a threat led to the trial of Anthony Pellicano, a Hollywood private detective facing wiretapping charges, will soon be a witness in the case.

* Sun Microsystems Inc JAVA.O has received a $44 million contract from the Pentagon to explore the high-risk idea of replacing wires between computer chips with laser beams.

* Apparently unnerved by recent unrest among Tibetans and fearful of protests in the heart of the capital, China has told broadcast officials it will bar live television shots from Tiananmen Square during the Beijing Olympics.

* The Wall Street Journal’s transition to more breaking news and shorter articles will include a makeover of its Marketplace section, editors and reporters there said. The planned changes, and others already under way, have some newsroom employees wondering what their role will be as Rupert Murdoch reshapes one of the world’s great newspapers.

* Chris Wallace, host of the weekend political talk show ‘Fox News Sunday,’ took some of his Fox colleagues to task, claiming that they took Sen. Barack Obama’s comments about race out of context.

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