PRESS DIGEST- New York Times business news - Nov 20
Nov 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.
* A two-year Senate-led investigation is throwing back the curtain on the outsize and sometimes hidden sway that Wall Street banks have gained over the markets for essential commodities like oil, aluminum and coal. A Senate subcommittee found that Goldman Sachs and JPMorgan Chase assumed a role of such significance in the commodities markets that it became possible for the banks to influence the prices that consumers pay while also securing inside information about the markets that could be used by their own traders.. (nyti.ms/1BOTLo3)
* During the financial crisis in 2008, the government made a supremely generous move that most likely saved Goldman Sachs from collapse. Six years later, Goldman is still reaping benefits from the special provisions that came with that act of mercy, according to the findings of a Senate report that was released on Wednesday. (nyti.ms/1uzPTAV)
* The new airbag propellant was supposed to be the next big thing for Takata in 1998. An engineer for the company, Paresh Khandhadia, declared it "the new technological edge" in an interview with a trade magazine then. Based on a compound called tetrazole, it was seen as a reliable and effective compound for inflating airbags. Yet despite the fanfare, by 2001 Takata had switched to an alternative formula, ammonium nitrate, and started sending the airbags to automakers, including Honda. That compound, according to experts, is highly sensitive to temperature changes and moisture, and it breaks down over time. And when it breaks down, it can combust violently, experts say. (nyti.ms/1xR1DAt)
* A group of community bankers raised many of the same concerns as Senators Elizabeth Warren and Richard Durbin about the naming of Antonio Weiss to a top Treasury job. One being Weiss's work on Burger King's acquisition of the Canadian coffee chain Tim Hortons Inc. (nyti.ms/1vrqV9R)
* After Netflix Inc delayed a stand-up special, NBC announced it was dropping plans to develop a new sitcom starring comedian Bill Cosby, the latest fallout from rape accusations. (nyti.ms/1uLPT2n) (Compiled by Zara Mascarenhas in Bangalore)
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