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PRESS DIGEST-New York Times business news - Nov 14
November 14, 2012 / 6:43 AM / 5 years ago

PRESS DIGEST-New York Times business news - Nov 14

Nov 14 (Reuters) - The following are the top stories on the New York Times business pages on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

* An accumulation of run-ins with other company leaders led to Steven Sinofsky’s departure, according to several current and former Microsoft Corp executives. ()

* Authorities have reached a $210 million settlement with a BNY Mellon subsidiary, Ivy Asset Management, for advising clients to invest with Bernard Madoff, whose multibillion-dollar fraud landed him in federal prison, New York’s attorney general, Eric T. Schneiderman, said on Tuesday. ()

* The Washington Post, facing steep financial challenges and striving to find profitability as readers abandon print newspapers for digital formats, changed its newsroom leadership on Tuesday. The Post announced that Marcus Brauchli, its executive editor for the last four years, will step aside but remain with the company. Martin Baron, editor of The Boston Globe, will replace Brauchli effective Jan. 2. ()

* Cisco Systems Inc, the world’s largest computer networking company, enjoyed years of rapid growth in the early days of the Internet, only to struggle against new competitors. While the company is unlikely to see sustained double-digit growth, the efforts of John Chambers, Cisco’s chief executive, to get Cisco into newer businesses like Internet video and maintain a disciplined cost-consciousness have plumped profits.

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