PRESS DIGEST-New York Times business news - Sept 24

Tue Sep 24, 2013 1:29am EDT
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Sept 24 (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.

* JPMorgan Chase & Co paid $1 billion to resolve an array of government investigations last week. But its biggest battles with federal authorities may still lie ahead. The nation's largest bank is bracing for a lawsuit from federal prosecutors in California who suspect that the bank sold shoddy mortgage securities to investors in the run-up to the financial crisis, according to people briefed on the matter. ()

* Chrysler filed for a public stock offering on Monday, acting only under pressure from its second-largest shareholder, a trust set up to provide medical coverage for 115,000 retired autoworkers and their relatives. Ordinarily, Chrysler's plan would be cause to celebrate the automaker's comeback from its government bailout and bankruptcy in 2009. ()

* Detroit had a bit of rare good fortune as it hurtled toward bankruptcy last summer - a couple of banks were willing to let it out of some expensive financial contracts, called interest-rate swaps, without paying in full the usual steep termination fees. But since then, an insurance company, Syncora Guarantee, has been seeking to block the deal, lining up allies among Detroit's other creditors. ()

* While French fries are a staple of the fast-food burger business, they have long been vilified by nutrition experts as little more than vehicles for adding fat, salt and calories to diets. Now Burger King Worldwide Inc has come up with a fry that it says delivers about 40 percent less fat and 30 percent fewer calories than the fries sold by its archenemy McDonald's. ()   Continued...