Nov 10 (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.
- Greece's international bailout program has hit snags,
delaying release of the next payout of rescue money. Despite a
weekend of negotiations over telephone, Greek officials and the
country's foreign creditors remained at odds.
- Canadian Pacific Railway Ltd CP.TO held preliminary
discussions with Norfolk Southern Corp (N:NSC) NSC.N , one of the
handful of operators, who control the roughly 95,000 miles of
top-quality railroad tracks in the U.S., for a takeover. The two
railroads ultimately may not reach a deal.
- Volkswagen (DE:VOWG) AG VOWG_p.DE said it would begin talks with
worker representatives about how to cut costs - in the latest
sign that the company's crisis over cheating on emissions tests
is taking a heavy toll. The German automaker said it would offer
up to $1,000 to owners of diesel cars in the U.S. affected by
the scandal.
- Local leaders of United Automobile Workers on Monday
endorsed a proposed labor agreement with Ford Motor Company (N:F),
that is slightly richer than contracts agreed to by union
workers at General Motors Co (N:GM) GM.N and Fiat Chrysler (N:FCAU)
Automobiles NV FCAU.N . The move by the union leadership paves
a way for voting on the four-year agreement by more than 52,000
Ford workers.
- William Ackman, founder of Pershing Square Capital
Management, responded aggressively to the media's coverage of a
four-hour conference call that he held on Oct. 30. The call was
held to defend his hedge fund's 21-million-share stake in
Valeant Pharmaceuticals International Inc (N:VRX) VRX.TO . Valeant's
stock price plunged more than 60 percent over the last several
months because of its controversial pricing tactics. (
- A slowdown in international trade could be a harbinger of
a new recession for the world's leading economies, the
Organization for Economic Cooperation and Development said in
its world economic outlook.
- Even as the world shifts toward lower-carbon forms of
energy, the changes are happening too slowly to keep global
temperatures from rising to dangerous levels in the coming
decades, International Energy Agency said in its report.