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PRESS DIGEST-New York Times business news - June 20
June 20, 2013 / 5:03 AM / 4 years ago

PRESS DIGEST-New York Times business news - June 20

June 20 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.

* The possibility of a bankruptcy filing by the city of Detroit has raised concerns about the fate of 62 classic cars managed by the city’s historical society. ()

* The U.S. Federal Reserve, increasingly confident in the durability of economic growth, expects to start pulling back later this year from its efforts to stimulate the economy, the Fed Chairman, Ben Bernanke, said on Wednesday. ()

* Europe’s top antitrust enforcer continued a crackdown on drug company efforts to keep low-cost generic versions of their medicines off the market, a campaign that is taking place on both sides of the Atlantic. ()

* George Zimmer, the founder of Men’s Wearhouse Inc and a frequent presence in its commercials, was fired on the day of its shareholders’ meeting. A disagreement between Mr. Zimmer and the board appeared to be the reason for the sudden dismissal, though it was not immediately clear what that disagreement was. ()

* The Philippines has the fastest-growing economy in East Asia. But unemployment is still rising and the number of people in poverty has barely changed in six years. ()

* Riverstone Holdings, a leading private equity firm focused on energy and power, announced on Wednesday that it had raised its largest-ever fund, a $7.7 billion vehicle that exceeds its $6 billion target. ()

* The British government is preparing to sell part of its holding in the Lloyds Banking Group and is weighing a breakup of the Royal Bank of Scotland, the chancellor of the Exchequer said. ()

* Sony Corp’s Chief Executive Kazuo Hirai told shareholders on Thursday that movies and music were an indispensable part of the company, rejecting a renewed push by the American activist investor Daniel Loeb. ()

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