PRESS DIGEST-New York Times business news - June 26

Wed Jun 26, 2013 12:36am EDT
 
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June 26 (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.

* Chinese investors have been buying marquee commercial properties in New York and other American cities. The deals go beyond shimmering glass-and-steel towers: Chinese and Hong Kong investors have also become the second-largest foreign buyers of United States homes.

* The Standard & Poor's Case-Shiller home price index on Tuesday showed a 12 percent increase in prices in 20 cities from April 2012 to April 2013, the largest gain since early 2006, when home values began to level off in advance of the market collapse. ()

* The Chinese central bank reassured investors worried about a lingering credit squeeze and declared that it had already been selectively supporting bank liquidity, as Chinese stock markets swung wildly again Tuesday after several days of volatility. ()

* In the financial equivalent of the Tortoise and the Hare, Royal Bank of Canada has risen up the ranks of the biggest stock trading firms in the United States by embracing a rather Canadian restraint and prudence. The bank has made inroads with a technology that it says delays trades just enough to defuse the advantages sought by high-speed traders. ()   Continued...