PRESS DIGEST – New York Times business news – April 16

April 16 (BestGrowthStock) – The following were the top stories in
the New York Times business pages on Friday. Reuters has not
verified these stories and does not vouch for their accuracy.

* The Quadrangle Group, the investment firm founded by
Steven L. Rattner, the politically connected financier who went
on to lead President Obama’s auto task force, has agreed to pay
$12 million to settle allegations that it paid kickbacks to win
lucrative business from the New York State pension fund.

* Thousands of people in the country and abroad, have been
hard hit by a shortage of drugs made by the biotechnology
company Genzyme to treat two rare inherited diseases.

* Beyond the principle of protecting the taxpayer,
Republicans and Democrats mostly agree on the approach, but not
the details, of financial regulatory reform.

* Senate Republicans demanded that Democrats agree to
negotiate major changes to the financial regulation bill before
they would start floor debate and amendments.

* Google Inc (Read more about Google Stock Analysis) (GOOG.O: ) may be fighting a multifront war
against Apple Inc (Read more about Apple stock future.) (AAPL.O: ), Microsoft Corp (MSFT.O: ), federal
antitrust regulators and the government of China, but its
online advertising business continues to hum along nicely. The
company topped published forecasts on Thursday, reporting that
its net income in the first quarter jumped more than 37 percent
from the recession-mired quarter a year ago.

* Twitter’s first developer conference, held this week in
San Francisco, served as a coming-out party for the
four-year-old service. Twitter the start-up is becoming Twitter
the big company, with more polish, controversy, competition and
revenue.

* For the second time in less than a year, the Food and
Drug Administration has written to Apotex about violations at
its plants.

* China’s accelerating economic recovery without signs yet
of a surge in inflation may give the government some leeway in
making two crucial decisions: raising interest rates and
revaluing the Chinese currency.

* When the music stopped on Thursday in the airline
industry’s game of musical chairs, Continental Airlines Inc
(CAL.N: ) and UAL Corp’s (UAUA.O: ) United Airlines were back in
talks again, and US Airways Group Inc (LCC.N: ) was still trying
to grab a seat.

* Federal authorities arrested two property developers, a
father and son, on Thursday and charged them with participating
in a multimillion-dollar tax evasion scheme through a large
international bank.

* Boston Scientific Corp (BSX.N: ) said Thursday that the
Food and Drug Administration was allowing it to resume
defibrillator sales after a one-month halt caused by the
company’s failure to notify regulators about manufacturing
changes to the devices.

* Advanced Micro Devices Inc (AMD.N: ), the microprocessor
maker, reported first-quarter sales on Thursday that beat
analysts’ predictions, adding to evidence that personal
computer demand was increasing.

* Toyota Motor Corp (7203.T: ) said on Thursday that it was
testing the safety of all its sport utility vehicles and had
suspended sales of the Lexus GX 460 in markets beyond the
United States, where sales were halted this week

* Authorities in Germany have arrested three people who
worked for the Hewlett-Packard Co (HPQ.N: ) as part of an
investigation into accusations that kickbacks were paid in
connection with a contract to supply equipment to Russian law
enforcement agencies, a prosecutor’s office said Thursday.

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PRESS DIGEST – New York Times business news – April 16