September 23, 2008 / 5:41 AM / 10 years ago

PRESS DIGEST - New York Times business news - Sept 23

Sept 23 (Reuters) - The following were the top stories in The New York Times business pages on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.

* The Bush administration and Congressional leaders moved closer to agreement on a historic $700 billion bailout for financial firms, including tight oversight of the program and new efforts to help homeowners at risk of foreclosure.

* While most economists say the crisis justifies an intervention, there is disagreement over how to go about it.

* Older Americans with investments are among the hardest hit by the turmoil, and have the least opportunity to recover.

* Europe and Japan have signaled they are not ready to mount a rescue of the kind being debated in the United States.

* Investors in Asia are skeptical that the government bailout plan will be enough to stave off underlying economic problems in America.

* As Morgan Stanley (MS.N) and Goldman Sachs Group Inc (GS.N) restructure as regulated bank holding companies, Wall Street will be an arena of greater stability and smaller profits.

* An investor has sued the Reserve Fund, a big mutual fund operator, accusing of it tipping other investors to impending losses.

* Not only are retailers grappling with a sputtering economy, but the credit crisis is making it harder for them to finance operations.

* Spurred by rising costs for electricity, energy visionaries are making a new push to overcome the barriers blocking ocean-power technology.

* Microsoft Corp (MSFT.O) said it would buy back $40 billion of its shares, Hewlett-Packard Co (HPQ.N) would repurchase $8 billion in shares and Nike Inc (NKE.N) said it would take on $5 billion.

* Sallie Krawcheck, who led Citigroup Inc’s (C.N) global wealth management division, was pushed out after months of friction with the chief executive.

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