PRESS DIGEST - New York Times business news - Dec 15

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* The Chinese government increased trade tensions with the Obama administration Wednesday evening by unexpectedly imposing antidumping and antisubsidy tariffs on imports of sport utility vehicles and midsize and large cars from the United States.

* A House committee is expected to disclose on Thursday that MF Global, under Jon S. Corzine, stripped critical powers from its top executive in charge of controlling risk, according to a person briefed on the matter.

* Hours before a critical deadline Wednesday, Olympus Corp , Japan's chastened camera maker, released revised financial results, owning up to more than $1 billion in losses it hid for more than a decade.

* Six of Groupon Inc's underwriters stamped the stock with neutral or hold ratings. Five issued bullish, or buy, calls. Their price targets ranged from $21 to $29. The lukewarm reception dragged on Groupon's shares, as the stock tumbled 3.3 percent to close Wednesday at $22.55.

* The Organization of the Petroleum Exporting Countries agreed on Wednesday to increase its production target for the first time in three years, a move that appeared to signal that Saudi Arabia and Iran had put aside their recent differences on oil policy, at least temporarily.

* The European Union's competition regulator ended an antitrust investigation into International Business Machines Corp on Wednesday after the company agreed to modify the way it supplied parts and information to rivals.

* On Wednesday, Michael Kors Holdings Ltd priced its initial public offering at $20, above the expected range of $17 to $19. The stock sale, which raised nearly $950 million, values the company at $3.8 billion.

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