PRESS DIGEST-New York Times business news - Oct 17

Written By Unknown on Rabu, 17 Oktober 2012 | 16.47

Wed Oct 17, 2012 1:42am EDT

Oct 17 (Reuters) - The following are the top stories on the New York Times business pages on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

* Weeks before Vikram Pandit's surprise resignation on Tuesday as chief executive of Citigroup Inc, the banking giant's powerful chairman, Michael O'Neill, was privately huddling with other board members to plan how to replace him, according to several people briefed on the talks.

* 27 European data-protection agencies asked Google Inc to modify its global privacy policy that governs dozens of Google online services - including the flagship search engine, Android mobile phone apps and YouTube videos.

* After months of delay, the Spanish government is edging closer to making a decision about whether to ask for European financial assistance.

* International Business Machines Corp delivered a mixed and somewhat unsettling quarterly performance. Profits barely exceeded Wall Street's expectations, while revenue fell well below.

* Intel Corp crossed an earnings bar it lowered for itself last month, but the problems plaguing its main market for semiconductors - personal computers - seemed no closer to ending.

* Goldman Sachs Group Inc said it had a strong comeback for the third quarter of 2012, buoyed by private equity holdings that had weighed down its earnings a year ago.

* Bank of America Merrill Lynch has hired Margaret Ren to lead its Chinese operations, according to an internal memorandum. Ren joins the company from BNP Paribas, where she was the corporate finance chairman for greater China.

* The troubled battery maker A123 Systems Inc filed for bankruptcy, dealing a blow to the Obama administration's program to jump-start a domestic battery industry and spur development of electric vehicles.

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