February 12, 2015 / 5:38 AM / in 3 years

PRESS DIGEST- New York Times business news - Feb 12

Feb 12 (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.

* Higher demand in Asia, difficult weather in the major cocoa-producing countries in West Africa and attacks of fungus are contributing to the price increases. (nyti.ms/1vm0Zbb)

* The Obama administration accused China of providing illegal export subsidies to critical industries, flexing its muscle on trade as it presses Congress to expand President Obama's authority to secure major trade accords. (nyti.ms/1uENt7G)

* Eurozone finance ministers failed to narrow their deep differences with Greece on Wednesday over how to keep the country from running out of money as it tries to revise the terms of its bailout. (nyti.ms/17jXixH)

* The White House passed a bill approving construction of the Keystone XL oil pipeline, setting up a confrontation with President Obama, who has vowed to veto the measure. (nyti.ms/1B0p8LD)

* Jet.com, a soon-to-start online marketplace that aims to loosen Amazon's grip on e-commerce, said it had raised $140 million in a new round of funding. The investment, led by Bain Capital Ventures, values the company at almost $600 million, according to people briefed on the funding round. (nyti.ms/1IYeNEl)

* The chief executive of Britain's tax agency was questioned by politicians over leaked documents that describe how HSBC's Swiss private banking arm helped clients, including politicians, rock stars and dealers of illicit diamonds, hide billions of dollars before 2007. (nyti.ms/1vG53ZJ) (Compiled by Zara Mascarenhas in Bengaluru)

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