PRESS DIGEST- New York Times business news - March 26
March 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.
* An unmanned vehicle, which has about the wingspan of a Boeing 767 but weighs less than a small car, is the centerpiece of social-networking company Facebook Inc's plans to connect with the five billion or so people it has yet to reach.(nyti.ms/1Ni7cx7)
* Almost a year after agreeing to pay $3 billion for Beats, a maker of hip headphones and a streaming music service, Apple Inc is working with Beats engineers and executives to introduce its own subscription streaming service to compete directly with streaming upstarts like Spotify. (nyti.ms/1Ni8Zm5)
* Brazilian private investment firm 3G capital said it struck a deal to take control of Kraft Foods Group Inc. Working with the billionaire investor Warren Buffett's Berkshire Hathaway Inc, 3G said on Wednesday it would merge Kraft Foods with H.J. Heinz Co, the canned foods giant it acquired with Buffett in 2013. Once combined, the Kraft Heinz Company will be one of the largest food and beverage conglomerates in the world, with nearly $28 billion in annual sales, and an expected market value of more than $80 billion. (nyti.ms/1NiaYH1)
* The Consumer Product Safety Commission formally announced on Wednesday that it was investigating whether Lumber Liquidators Holdings Inc, one of the largest discount flooring retailers in the United States, sold products with dangerous levels of formaldehyde. (nyti.ms/1xhP7NK)
* Ford Motor Co issued three safety recalls on Wednesday morning, the largest aimed at about 213,000 Ford Explorers and its law enforcement sibling, the Ford Police Interceptor utility vehicle. The recall covers about 194,000 vehicles in the United States, and more than 18,000 in Canada and Mexico. (nyti.ms/1xhPmsh) (Compiled by Ankush Sharma in Bengaluru)
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