January 26, 2009 / 5:33 AM / 10 years ago

PRESS DIGEST - New York Times business news - Jan 26

Jan 26 (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.

* Pfizer (PFE.N), the world’s largest drug maker, agreed in principle to acquire a smaller rival, according to people involved in the talks.

* President Obama will direct regulators to move swiftly on an application by 14 states to set strict automobile emissions and fuel efficiency standards.

* Members of the Organization of the Petroleum Exporting Countries have slashed their output by more than three million barrels a day in recent months, temporarily stopping the slide in oil prices.

* Politicians, not corporate titans, are poised to be the big draw at this year’s World Economic Forum gathering, as power shifts away from the free market.

* President Obama’s economic recovery plan pours money into old-fashioned public works projects like roads and bridges, but it also has some ambitious 21st century twists.

* Republicans plan to test President Barack Obama’s commitment to bipartisanship as his $825 billion stimulus package heads to the floor of the House of Representatives this week, with the House Republican leader saying that many in his party will vote no unless there are significant changes to the plan.

* With significant ratings declines, the networks are extending the runs of old shows and limiting the experimentation seen in recent years.

* A sign of the ailing economy, infomercials are now filling television slots that traditional advertisers like banks and automakers once owned.

* New York City could receive at least $3.4 billion in federal aid as part of an economic stimulus bill being considered by Congress, Mayor Michael Bloomberg and other officials announced during a news conference at City Hall.

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