PRESS DIGEST- New York Times business news - July 30
July 30 (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.
* Barring a last-minute deal, Argentina will default on billions of dollars of bonds on Wednesday. It would be Argentina's second default in 13 years. A default has been in the making since a group of New York hedge funds gained significant victories in American courts, where they are demanding that Argentina should pay them in full on government bonds that defaulted in 2001. (nyti.ms/1tYjH9c)
* The United States and Europe kicked off a joint effort on Tuesday intended to curb Russia's long-term ability to develop new oil resources, taking aim at the Kremlin's premier source of wealth and power in retaliation for its intervention in Ukraine. The goal was not to inhibit current oil production but to cloud Russia's energy future. (nyti.ms/1rBMLBL)
* The general counsel of the National Labor Relations Board ruled that McDonald's Corp could be held jointly liable for labor and wage violations by its franchise operators. The ruling comes after the labor board's legal team investigated myriad complaints that fast-food workers brought in the last 20 months, accusing McDonald's and its franchisees of unfair labor practices. (nyti.ms/1nEK6Z1)
* After New York proposed the virtual currency regulations two weeks ago, bitcoin enthusiasts have had a mixed reaction on whether the new rules will help legitimize the virtual currency or whether they will thwart innovation and threaten the very freedom that bitcoin was meant to promote. (nyti.ms/1pDxAWj) Continuación...