November 5, 2013 / 5:58 AM / 4 years ago

PRESS DIGEST- New York Times business news - Nov 5

Nov 5 (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.

* While the hedge fund SAC Capital has put the government’s criminal case behind it, Steven Cohen remains the focus of a criminal investigation and a SEC administrative complaint. ()

* Federal officials said Johnson & Johnson promoted the anti-psychotic drug as a way to treat dementia patients for many ailments, when it was only approved for schizophrenia. ()

* Twitter has raised the price range for its initial public offering to $23 to $25, signaling the company’s bullish outlook ahead of its trading debut on Thursday. ()

* Netflix said on Monday that starting early next year it will be the exclusive streaming distributor for “The Square,” an Arabic documentary about the Egyptian protest centered in Tahrir Square, which is considered a leading contender for an Oscar nomination. ()

* A tentative takeover bid for BlackBerry Ltd from its largest shareholder collapsed on Monday, clouding the immediate future of the company. Fairfax Financial Holdings of Toronto, the insurance and investment company, had made a conditional, non-binding offer to buy the 90 percent of BlackBerry shares it does not own for $9 each, valuing the company at about $4.7 billion. ()

* Tom Wheeler was sworn in on Monday as chairman of the Federal Communications Commission and promptly named to his senior staff Gigi Sohn, one of the agency’s most outspoken critics but a supporter of the new leader. ()

* A measure that would outlaw workplace discrimination against gay men, lesbians and transgender people overcame a significant obstacle in the Senate as seven Republicans voted to begin debate on the bill. ()

* The Carlyle Group has hired Kewsong Lee away from his post as managing director at Warburg Pincus, an unusually high-level transition within private equity’s executive ranks. ()

* Tri Pointe Homes, the West Coast builder controlled by Barry Sternlicht’s Starwood Capital, is merging with the home-building subsidiary of Weyerhaeuser, a large owner of timberlands. ()

* Two activist hedge funds, the Clinton Group and Cannell Capital, have joined forces to mount a proxy battle for control of the Internet and television shopping network ValueVision Media. ()

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