PRESS DIGEST-New York Times business news - March 6
March 6 |
March 6 (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 Dow Jones industrial average, the oldest and most popular gauge of the stock market, on Tuesday surged past the nominal high it last reached more than five years ago, before the financial crisis hit with full force.
* The British government stood isolated on an important European Union issue Tuesday after finance ministers from elsewhere in the bloc rejected its effort to water down proposed limits on bankers' bonuses.
* Gary Gensler, head of the U.S. Commodity Futures Trading Commission, is assuring officials that he plans to remain in the Obama administration through at least December even as he weighs other options, according to people briefed on the matter.
* California state officials estimate $9 billion of cuts in U.S. federal aid and are trying to anticipate where those cuts will hit hardest as they wait for details from Washington.
* Europe's antitrust regulators are preparing to deliver a fine to Microsoft Corp for failing to give users of its Windows software the choice of competing Internet browsers. It would be the first time that European regulators had punished a company for neglecting to comply with the terms of an antitrust settlement
* Chief Executive Joel Klein of Amplify, News Corp's fledgling education division, will announce on Wednesday that Amplify will not just sell its public school curriculum on existing tablets, but will also offer the Amplify Tablet, its own 10-inch Android tablet for K-12 schoolchildren.
* A U.S. federal judge has granted a former employee of the hedge fund SAC Capital Advisors additional time to review the government's evidence in an insider trading case brought against him.
* Martha Stewart took the stand on Tuesday in a New York State Supreme Court trial to testify in a lawsuit by Macy's Inc concerning which retailers have the right to sell her sheets, towels and other branded home goods.
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