PRESS DIGEST- New York Times business news - June 3

Tue Jun 3, 2014 1:03am EDT
 
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June 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.

* Enormous amounts of capital investment - up to $2.5 trillion a year - will be needed to supply the world's energy needs through 2035, according to a report released Monday by the International Energy Agency, the intergovernmental organization based in Paris. And even that amount of investment would not eliminate many of the issues the industry faces. (r.reuters.com/ves79v)

* Facing the prospect of a guilty plea in the United States, the giant French bank BNP Paribas SA, which is suspected of doing business with Sudan and other countries blacklisted by the United States, has enlisted the support of a powerful ally: its own government, including top regulators and even the French president. (r.reuters.com/ces79v)

* From the moment it was announced, the $53 billion joint bid for Allergan, the maker of Botox, made by Valeant Pharmaceuticals and the hedge fund manager William Ackman, was highly unconventional. In the last week, the joint bid has evolved from an already unusual deal into one of the most confounding takeover attempts in recent memory. (r.reuters.com/ses79v)

* Pilgrim's Pride has raised its takeover bid for Hillshire Brands to $55 a share, people briefed on the matter said, turning up the heat in a battle over the maker of Jimmy Dean Sausages and Ball Park hot dogs. (r.reuters.com/kes79v)   Continued...