PRESS DIGEST - Wall Street Journal - Dec 27

Thu Dec 27, 2012 6:51am GMT

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Dec 27 - The following are the top stories in the Wall Street Journal on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.

* Toyota Motor Corp agreed to pay about $1.1 billion to settle a class-action lawsuit stemming from complaints of unintended acceleration in its vehicles that soured its reputation for quality and undermined its sales globally. ()

* A federal jury in Pittsburgh found that chip-maker Marvell Technology Group Ltd should pay nearly $1.17 billion for infringing patents held by Carnegie Mellon University. ()

* Little more than a month after launching in the U.S., Nokia's critical Lumia lineup of smartphones is being sold at postholiday discounts - or even free with contracts - at some United States carriers and through Amazon.com Inc. ()

* Honda Motor Co agreed to voluntarily recall about 19,500 all-terrain vehicles in the U.S. due to a crash hazard, following a smaller recall of the ATVs in February, the U.S. Consumer Product Safety Commission said. ()

* Duke Energy Corp agreed to acquire a subsidiary of Chilean energy conglomerate CGE Group for $415 million as part of the U.S. company's efforts to tap Latin America's growth potential. ()

* TD Ameritrade Holding Corp, one of the biggest investors in Knight Capital Group Inc, pledged its support for the brokerage firm's acquisition by rival Getco LLC, in the latest sign that the deal is likely to win shareholder approval. ()

* Steinway Musical Instruments Inc has terminated a tentative agreement to sell its band-instrument division to investors led by two of its board members following a strategic review. ()

* The Treasury department said the government would hit its legal borrowing limit by Monday, setting in motion emergency measures to keep the government operating for several more weeks and serving as a reminder that the nation's budget wrangling could continue well into 2013. ()

* The IKEA Group's India plans looked brighter Wednesday, with a senior minister indicating that the government is likely to approve the Swedish retailer's application to set up wholly owned stores and might drop a condition that would have limited the company's product offerings. ()

* W.W. Grainger Inc agreed to pay $70 million to settle allegations that the hardware distributor submitted false claims under contracts with two United States government agencies. ()

* Home prices are on track to notch their first yearly gain since 2006, the strongest performance since the housing bust and a development that could accelerate the real-estate rebound even as the broader economy stutters. ()