PRESS DIGEST- New York Times business news – March 6

Publish date : 6 March, 2015

KATHMANDU, March 6: 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.

* Multinational companies accused of human rights abuses abroad are on the counterattack, seeking to bring down the lawyers who target them. Drummond Co Inc, a coal producer based in Birmingham, Alabama, recently asked a federal judge to hold in contempt Terrence Collingsworth, a lawyer who has accused companies of mistreating workers, as part of a libel suit it is pressing against him.(nyti.ms/1aPfUXS)

* What is really under examination in Ellen Pao’s lawsuit against Kleiner Perkins Caufield & Byers, the firm in which she was junior partner, is the question of why there are so few women in leadership positions in Silicon Valley. At stake is any hope that the tech world can claim to be a progressive place, or even a fair one.(nyti.ms/1aPgchp)

* The United States Postal Service has announced it will replace its fleet of Grumman mail trucks with what it calls its next-generation delivery vehicle. The goal is to harness new technologies, increase fuel efficiency and help the Postal Service better compete on package deliveries with the likes of FedEx and United Parcel Service.(nyti.ms/1aPjgtI)

* The nation’s largest banks appear to have the financial strength to survive a nightmarish world where unemployment soars, house prices plummet and Wall Street crashes, the Federal Reserve said on Thursday.(nyti.ms/1aPh6u6)

* The Islamic State, the violent millitant group that espouses a return to a seventh-century caliphate, has been astonishingly successful at spreading its message using 21st-century social media, according to a study released Thursday.(nyti.ms/1aPhGZ3)

* The United States Marshals Service said on Thursday that 14 registered bidders took part in an auction for 50,000 Bitcoins, worth about $14 million, that were seized in connection with the online bazaar Silk Road.(nyti.ms/1aPhN6N)

Reuters