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PRESS DIGEST - New York Times Business News - June 12

12 Jun 2007 06:50:28 GMT
Source: Reuters

June 12 (Reuters) - The New York Times reported the following stories on its business pages on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.

* Apple Inc. <AAPL.O> said it would make its Safari Web browser available for Windows-based PCs, opening a new front in its rivalry with Microsoft Corp. <MSFT.O>.

* Terry S. Semel, chief executive officer of Yahoo Inc. <YHOO.O>, is facing mounting questions about internal morale problems.

* Google Inc. <GOOG.O> says it will soon begin testing a long-awaited system called video fingerprinting that can block unauthorized copyrighted clips from being uploaded to YouTube, the popular video-sharing site it bought last year.

* The giant private equity firm Blackstone Group [BG.UL], founded by Stephen Schwarzman and Peter Peterson, is expected to go public in the next few weeks.

* Mortgage brokers, real estate agents and minority community leaders complained that a mandatory state program to counsel borrowers on their mortgages amounted to government intrusion.

* The ballooning cost of cancer treatment offers an example of how difficult it may be to rein in the nation's runaway health care spending without fundamentally changing the way doctors are paid.

* Business is booming for Atomstroyexport, even after the Russian nuclear power company has been roundly criticized for helping Iran build its nuclear program.

* The introduction of the new logo for the 2012 Olympic Games by the London Olympics organizers was a textbook example of marketing in the Web 2.0 era, when gold medals are handed out for achieving maximum brand-building buzz at minimum cost. Why spend a lot of money advertising when media owners and Joe Public do the job for you, free of charge?

* USEC Inc. <USU.N>, the sole U.S. company that enriches uranium, is struggling to stay in business and nuclear power experts worry that USEC's failure would leave the Russians dominant in the market for fuel processing.

* A collection of 19th- and early 20th-century British stamps owned by bond investor William H. Gross was auctioned in New York for $9.1 million.

* TheStreet.com said it would cancel the first round of its 'Beat the Street' competition because some of the contestants had taken advantage of the system.

* China's trade surplus soared 73 percent to $22.5 billion in May from a year ago, government figures released on Monday showed. The figures are likely to increase pressure from U.S. lawmakers for sanctions against Beijing.

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Last updated:Tue Jun 12 06:52:34 2007