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PRESS DIGEST- New York Times business news - Oct 1
October 1, 2014 / 5:28 AM / 3 years ago

PRESS DIGEST- New York Times business news - Oct 1

Oct 1 (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.

* EBay Inc announced on Tuesday that PayPal would be spun off as a separate publicly traded company, letting each of eBay's two main businesses chart its own course while maintaining most of their important business ties. (nyti.ms/1rKkufb)

* In a warning shot to companies shopping for tax deals around the globe, the European Commission publicly accused Ireland on Tuesday of giving illegal subsidies to Apple Inc and cautioned that the country might need to collect back taxes from the company, which outside analysts said could reach into the billions of dollars. (nyti.ms/1ubOYHB)

* The Securities and Exchange Commission on Tuesday accused two men of possessing confidential information about plans by Pershing Square Capital Management to attack Herbalife Ltd . (nyti.ms/1rqS1Mo)

* Johnson & Johnson said on Tuesday that it would pay $1.75 billion in cash for Alios BioPharma, a private biotechnology company that is working on treatments for viral diseases. (nyti.ms/1pptr8M)

* News Corp, the publishing company controlled by Rupert Murdoch, agreed on Tuesday to buy Move Inc, an operator of real estate listings websites, for $950 million in cash, as the newspaper publisher continues to branch out into new businesses. (nyti.ms/1qTSRuK)

* Remind, a start-up that links teachers and parents, said on Tuesday that it had raised $40 million from existing investors, led by Kleiner Perkins Caufield & Byers and joined by the Social+Capital Partnership and First Round Capital. (nyti.ms/1sMBJ1A)

* Consulting firm Bogdahn Group, which advises public and private pension funds that collectively hold more than $40 billion in assets, has counseled that its clients should withdraw their money from Pimco funds that had been managed by Bill Gross. (nyti.ms/1uAkZug) (Compiled by Rishika Sadam in Bangalore)

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