PRESS DIGEST – New York Times business news – April 15

April 15 (BestGrowthStock) – The following were the top stories in
the New York Times business pages on Thursday. Reuters has not
verified these stories and does not vouch for their accuracy.

* Restaurants have begun to see signs of a recovery in the
last few months, and the industry has hired thousands of
additional workers.

* The number of homeowners who defaulted on their mortgages
even after securing cheaper terms through the government’s
modification program nearly doubled in March, continuing a
trend that could undermine the entire program.

* After charges that it was slow to respond to accelerator
problems, Toyota Motor Corp (7203.T: ) worked quickly on its
S.U.V. issue.

* China’s economic growth surged to 11.9 percent in the
first quarter, possibly giving Beijing room to allow its
currency to rise, but analysts warned it faces growing pressure
to cut back stimulus and keep the world’s third-largest economy
from overheating.

* The White House and Democratic Congressional leaders
said Wednesday that they would press forward with legislation
to tighten regulation of the nation’s financial system.
Rebuffing Republican criticism, the Democrats effectively dared
the minority party to side with Wall Street by opposing the
measure.

* The Federal Reserve chairman said Wednesday that the
government had to make “difficult choices” to address its
gaping deficits and warned that “postponing them will only make
them more difficult.”

* The Library of Congress will archive the collected works
of Twitter, the blogging service, whose users currently send a
daily flood of 55 million messages, all that contain 140 or
fewer characters.

* After the banking industry (Read more about the banking industry recovery.)’s remarkable recovery in 2009,
JPMorgan Chase & Co (JPM.N: ) on Wednesday kicked off what
expected to be another season of robust results for the giants
of American finance.

* The chairman of the Federal Communications Commission
told a Congressional panel on Wednesday that a recent court
ruling that the agency lacked authority to regulate the
Internet should not prevent it from carrying out its plan to
broadly expand the country’s high-speed Internet service.

* The personal computer was beginning to look like
yesteryear’s gizmo, a technology relic overshadowed by
smartphones, e-readers and, lately, Apple Inc (Read more about Apple stock future.) (AAPL.O: ) iPad.
But the old beige box has proved remarkably resilient and
relevant.

* After critical audits, the federal government said
Wednesday that it would substantially tighten the certification
process for products bearing the Energy Star label, its stamp
of approval for an energy-efficient product.

* Hewlett-Packard Co (HPQ.N: ) said on Wednesday that Russian
authorities searched the company’s offices in Moscow, but it
did not disclose the reason for the raid.

* The former UBS AG (UBSN.VX: ) private banker in prison
after helping to uncover tax evasion by wealthy Americans is
asking President Obama for a shorter sentence.

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PRESS DIGEST – New York Times business news – April 15