PRESS DIGEST- New York Times business news - April 2
April 2 (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.
* As families of crash victims lined the back of the House hearing room, displaying photos of their lost loved ones, General Motors Co's Chief Executive Mary Barra told lawmakers that the company was considering paying damages to victims of accidents in the millions of cars recalled for defective ignition switches. (link.reuters.com/fam28v)
* Officials of Caterpillar Inc sparred with members of a Senate panel on Tuesday, defending more than a decade's worth of tax practices that put most of the company's profits out of reach of United States tax authorities. (link.reuters.com/gam28v)
* A federal judge ordered the Marvell Technology Group Ltd to pay about $1.54 billion to Carnegie Mellon University for selling billions of semiconductors that infringed the school's two hard disk drive patents. While that amount is 31 percent more than the $1.17 billion initially awarded by a jury in Dec. 2012, it was less than half the maximum $3.75 billion that Carnegie Mellon sought. (link.reuters.com/ham28v)
* Glen Taylor, the billionaire owner of the Minnesota Timberwolves basketball team, has signed a letter of intent to buy The Minneapolis Star Tribune, the newspaper announced on Tuesday. Details of the cash offer were not disclosed. (link.reuters.com/jam28v)
* Billionaire investor Steven A. Cohen is putting pressure on his traders to try to keep his investment firm SAC Capital Advisors together, as the once-powerful hedge fund awaits a judge's decision next week on its guilty plea to securities fraud charges. (link.reuters.com/pam28v)
* As lawyers of Apple Inc and Samsung Electronics Co Ltd made their opening statements in their patent trial in a federal courthouse here, they could not even agree on what the fight was about. Apple said it was seeking money to stop Samsung from copying its products. But Samsung said the case at heart was about Apple's attempt to stifle consumer choice by taking aim at its main competitor in the phone business. (link.reuters.com/tam28v) (Compiled by Arnab Sen in Bangalore)