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PRESS DIGEST- New York Times business news - March 3
March 3, 2017 / 6:46 AM / 9 months ago

PRESS DIGEST- New York Times business news - March 3

March 3 (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.

- Federal agents raided three Caterpillar buildings near its Illinois headquarters on Thursday, company and law enforcement officials said, in an escalation of an inquiry into the heavy equipment manufacturer's offshore tax practices.

- The large Chinese online retailer announced on Thursday that it would spin off its finance business for $2.1 billion, setting the stage for the group's expansion in the fast-growing and competitive market.

- Over the last three years, Apple's iPads and Mac notebooks — which accounted for about half of the mobile devices shipped to schools in the United States in 2013 — have steadily lost ground to Chromebooks, inexpensive laptops that run on Google's Chrome operating system and are produced by Samsung, and other computer makers.

- Anheuser-Busch InBev's flair for cutting costs is being blunted by complexity. The megabrewer now expects annual savings from its merger with SABMiller to reach $2.8 billion, 14 percent more than an earlier estimate. Yet the upgrade is significantly smaller than with previous purchases.

- Ben Martin, who as a Time magazine senior photographer immortalized Richard M. Nixon's haggard 5 o' clock shadow and John Kennedy's grieving widow and children — evocative images that defined the 1960s — died on Feb. 10 at his home. (Compiled by Vishal Sridhar in Bengaluru)

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