PRESS DIGEST- New York Times business news - Jan 21
Jan 21 (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.
- Federal prosecutors in Philadelphia said they indicted five people, including two research scientists, on charges of stealing trade secrets about drugs to treat cancer and other diseases from GlaxoSmithKline Plc, the British drug giant. (nyti.ms/1OHBB9a)
- Deutsche Bank AG reported a huge yearly loss of 6.7 billion euros ($7.30 billion) as the cost of past wrongdoing continued to weigh on its earnings. For the fourth quarter, the bank announced it had a net loss of 2.1 billion euros, in contrast to a net profit of 441 million euros a year earlier. (nyti.ms/1OHC5we)
- United States Treasury secretary, Jacob Lew, said the financial crisis in Puerto Rico was deepening and he urged Congress to act quickly to give the government the power it needs to restructure all of its debt. (nyti.ms/1OHCr5Z)
- Shares of Twitter Inc hit a record low early Wednesday before going on a wild ride and rising 4.1 percent for the day. The gain did little to erase Twitter's negative trajectory, with its shares off 25 percent this year. Square Inc , which went public last November, fell below its initial public offering price of $9 for the first time on Wednesday before recovering. (nyti.ms/1OHDRNV)
- California's attorney general is investigating Exxon Mobil Corp on whether the company lied to the public and shareholders about the risks of climate change, and whether the company's statements over the years constitute violations of securities laws and other statutes. (nyti.ms/1OHDaEf) ($1 = 0.9176 euros) (Compiled by Sangameswaran S in Bengaluru)
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