Aug 27 (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 U.S. stock market soared in late trading on Wednesday, shrugging off earlier declines in China and Europe. The powerful rally, which came after several days of severe plunges in the world's major stock markets, was inspired by soothing words from an influential Federal Reserve policy maker. (http://nyti.ms/1EVj19a)
- Monsanto Co said on Wednesday that it was abandoning its $47 billion takeover bid for the Swiss agricultural chemical manufacturer Syngenta AG after the company rebuffed a newly sweetened offer. (http://nyti.ms/1LCajnP)
- William Ackman's multibillion dollar hedge fund has lost all of its gains so far this year, he told investors on Wednesday. The billionaire chief of Pershing Square Capital Management LP (IPO-PERS.L) cited the declines in global stocks and the fear that slowing growth in China will have repercussions around the world. (http://nyti.ms/1EXUctb)
- A U.S. federal judge decided that Vitaly Korchevsky, suspect in insider trading, was unlikely to flee the country because his family lives here and he is a pastor at his church and ordered him to post $2 million in a bond secured to property and $200,000 in cash, and to be placed under home detention, with certain exceptions. (http://nyti.ms/1EXUxfj)
- Facebook Inc announced on Wednesday that it is testing a new service called M, an artificially intelligent digital assistant that helps a person do simple tasks, like ordering flowers or making reservations at a restaurant. The service will go live inside Facebook Messenger, the company's popular communication app used by more than 700 million people. (http://nyti.ms/1PVbc9Y)
(Compiled by Parikshit Mishra in Bengaluru)