Fed scrutiny

The CEOs of 28 of the largest US banks have been summoned to meet with supervisors at Fed eral Reserve banks on Nov. 2 to discuss how the central bank will scrutinize pay practices, according to a person fa miliar with the matter.

Miramax exit

Recently appointed Walt Disney Studios Chairman Rich Ross said that Daniel Battsek will leave his post as Miramax president in January by mutual agree ment. Earlier this month, Disney said it was slashing Miramax’s movie produc tion to three per year, down from six to eight, and cutting 50 jobs in New York and Los Angeles.

Hurt Fannie

Fannie Mae said delin quencies in its mortgage portfolio continued to rise, showing a potential plateau has yet to arrive. Fannie said August serious delin quencies, or those at least 90 days behind on single- family homes, rose to 4.45 percent from 4.17 percent in July and 1.57 percent a year earlier.

Stuy Town debt

Fitch Ratings down graded three commercial mortgage-backed securities deals tied to Stuyvesant Town-Peter Cooper Village in Manhattan. Fitch said a default of the debt is likely.

China iPhone

Apple’s iPhone made its long-awaited formal debut in China, without a key feature and at higher prices than widely available black market models. But Apple and its local part ner, China Unicom Ltd. also could face competi tion from an unusual source: unlocked iPhones brought in from abroad that have WiFi.