PRESS DIGEST- New York Times business news - March 31
March 31 (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.
* Federal regulators decided not to open an inquiry on the ignitions of General Motors Co's Chevrolet Cobalts and other cars even after their own investigators reported in 2007 that they knew of four fatal crashes, 29 complaints and 14 other reports that showed the problem disabled air bags, according to a memo released by a House sub-committee on Sunday. (link.reuters.com/fat97v)
* China's Alibaba Group Holding Limited IPO-ALIB.N, one of the world's biggest e-commerce companies, said it would invest 5.37 billion Hong Kong dollars ($692.3 million), for a stake of as much as 35 percent in Intime Retail Group, which operates 36 department stores and shopping centers across China.(link.reuters.com/kat97v)
* Vince McMahon and his company, World Wrestling Entertainment, have positioned themselves on the cutting edge of Internet television with the WWE Network, a new subscription-only streaming video service. Shares of the WWE, a publicly traded company based in Stamford, Connecticut, have more than tripled over the last year with the introduction of the subscription network and takeover rumors. (link.reuters.com/nat97v)
* Officially, it's Apple Inc versus Samsung Electronics Co Ltd in another tech patent face-off in a San Jose courtroom this week. But there is another company with a lot at stake in the case - Google Inc. In a lawsuit, Apple is seeking about $2 billion in damages from Samsung for selling phones and tablets that Apple says violate five of its mobile software patents. Samsung, meanwhile, says Apple violated two of its patents. (link.reuters.com/sat97v)
* Some companies housed in specific low-income areas of San Francisco receive breaks on taxes if they perform tasks that help improve their neighborhoods. (link.reuters.com/jet97v)
* U.S. Secretary of State John Kerry and his Russian counterpart agreed on Sunday that a political solution was needed for Ukraine and said they planned to continue discussing ways to de-escalate the crisis over the country's future and Russia's annexation of Crimea. But neither side claimed a breakthrough, and Russia did not commit to pulling back the more than 40,000 troops the United States says are massed near Ukraine's border. (link.reuters.com/ket97v) ($1 = 7.7573 Hong Kong Dollars) (Compiled by Arnab Sen in Bangalore)