Reuters: Bankruptcy News: PRESS DIGEST-New York Times business news - April 30

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PRESS DIGEST-New York Times business news - April 30 Apr 30th 2013, 05:54 April 30 | Tue Apr 30, 2013 1:54am EDT April 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. * The most recent high-level exit at JP Morgan - that of the co-chief operating officer, Frank Bisignano, regarded within the bank as something of an operational wizard - has heightened worries about the persistent executive turnover at the bank and raised fresh questions about who is ready to succeed chief executive Jamie Dimon one day. () * The troubled European car market is now dragging down even Volkswagen, the region's leading automaker, as vehicle sales on the Continent have declined to their lowest levels in decades. () * Deutsche Bank, Germany's largest bank, moved Monday to address criticism that it has too thin a cushion against risk, announcing that it planned to issue $3.65 billion in new stock to increase its capital reserves. () * The European Commission will enact a two-year ban on a class of pesticides thought to be harming global bee populations, the European Union's health commissioner said Monday. () * Alfredo Sáenz resigned on Monday as chief executive of Banco Santander, Spain's largest bank, in a move that ends a period of uncertainty over the bank's leadership. Sáenz had been facing a possible ban from banking after a criminal conviction. () * The Chinese internet giant Alibaba, which was once known as China's answer to eBay, agreed on Monday to buy an 18 percent stake in the Sina Corporation's Weibo, the most popular of China's microblogging services, for $586 million. It has the right to raise its stake to 30 percent in the future. () * Kodak said on Monday that it would spin off its document and personal imaging units to its British pension plan for $650 million in cash and noncash considerations, a move that paves the way for Kodak's exit from bankruptcy protection. () Link this Share this Digg this Email Reprints

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