February 24, 2009 / 5:43 AM / 10 years ago

PRESS DIGEST - New York Times business news - Feb 24

Feb 24 (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 U.S. government is facing pressure from banks, carmakers and a giant insurer, despite the billions it has already committed to rescuing them.

* Nationalization, at least a partial one, seems inevitable for Citigroup Inc (C.N). As Washington prepares to tighten its grip on the struggling company, the implications — for the troubled financial giant and the rest of the industry — are starting to sink in.

* Peter Chernin, Rupert Murdoch’s longtime top lieutenant, plans to leave News Corp (NWSA.O) when his contract expires in June, a move that renews questions of succession at one of the world’s biggest media companies.

* Signaling that it is willing to do whatever it can to save Detroit automakers, the United Automobile Workers union has agreed to concessions with the Ford Motor Co (F.N) on its retiree health care fund.

* In his third attempt to appoint a commerce secretary, President Obama has settled on former Governor Gary Locke of Washington, a White House official said.

* A New York state judge ruled that John Thain, former chief of Merrill Lynch must return to the attorney general’s office to provide more details about the bonuses that were given out on the eve of Merrill’s merger with Bank of America Corp (BAC.N).

* A widely used heart device recalled two years ago by Medtronic Inc (MDT.N) may be failing in patients at a rate significantly higher than previously known, a new report by two prominent cardiac specialists indicated.

* Declining travel, tighter credit and fewer deals from automakers are hurting rental car companies.

* UBS AG UBSN.VX, mounting a legal fight against efforts to force it to disclose the names of U.S. clients suspected of offshore tax evasion, may end up in court in July for a mini-trial on the matter.

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