PRESS DIGEST- New York Times business news - Dec 4

Wed Dec 4, 2013 12:26am EST
 
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Dec 4 (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.

* In a ruling that could reverberate far beyond Detroit, a federal judge held on Tuesday that this battered city could formally enter bankruptcy and asserted that Detroit's obligation to pay pensions in full was not untouchable. ()

* At a picturesque century-old factory, Count Anton-Wolfgang von Faber-Castell is the eighth in a long line carrying on the family name in the pencil business. Faber-Castell, the largest maker of wood-encased pencils in the world, illustrates how midsize companies - which account for about 60 percent of the country's jobs - are able to stay competitive in the global marketplace. ()

* The FDA allows the sale of some devices to treat small groups of patients without requiring proof that the devices work, or any rigorous study of the medical results. ()

* Testimony to Parliament from the top editor of The Guardian illustrated the aggressive investigative and spying tactics increasingly faced by news organizations. ()   Continued...