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PRESS DIGEST - Wall Street Journal - April 1
April 1, 2014 / 5:37 AM / 4 years ago

PRESS DIGEST - Wall Street Journal - April 1

April 1 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

* New problems in the federal health-insurance website stymied some of the hundreds of thousands of Americans trying to sign up at the last minute, prompting health plans and officials to brace for the complex task of enrolling people after Monday's official deadline. (

* Yahoo Inc is in preliminary talks to acquire online-video service News Distribution Network Inc, a deal that would help Chief Executive Marissa Mayer compete with Google Inc's YouTube for viewers and ad dollars. (

* The Federal Bureau of Investigation is probing whether high-speed trading firms are engaging in insider trading by taking advantage of fast-moving market information unavailable to other investors. Among the types of trading under scrutiny is the practice of placing a group of trades and then canceling them to create the false appearance of market activity. (

* Federal Reserve Chairwoman Janet Yellen offered new assurances that the Fed intends to keep interest rates low, describing in unusually personal terms why the economy needs these policies to support a weak job market. Yellen's comments, coming less than two weeks after a Fed policy meeting where officials discussed the path to rate increases, were a notable affirmation of her commitment to low rates until the economy is much stronger. (

* General Motors Co's chief and the top U.S. auto-safety regulator will face off on Capitol Hill on Tuesday over auto defects linked to 13 deaths. Separately, GM said it was recalling 1.5 million vehicles for a power-steering issue. (

* The U.S. Chamber of Commerce, among the most powerful business lobbying organizations in Washington, is planning a second outpost in Silicon Valley in an effort to broaden its membership and clout. The Chamber is expected to announce Tuesday that its second-in-command, David Chavern, will relinquish his role as chief operating officer to lead the initiative. (

* A hepatitis C pill from Gilead Sciences Inc that costs $1,000 a day is on track to notch among the biggest sales ever for the first year of a newly approved drug, showing how hard it is for insurers to curb usage. It could ring up $5 billion in U.S. sales this year if current prescription patterns hold. Some analysts say the figure might reach $9 billion. (

* Caterpillar Inc has deferred or avoided paying $2.4 billion of U.S. taxes under a corporate restructuring 15 years ago that shifted most of the profits from overseas replacement-part sales to a Swiss subsidiary, according to a Senate subcommittee report. (

* An investment venture set up by former Xstrata Chief Executive Mick Davis and three colleagues looks to finance a new midsize metals and mining group. (

* A federal judge upheld the validity of a key U.S. patent for Eli Lilly & Co's blockbuster lung-cancer drug Alimta, a big legal victory that could relieve sales pressure for the drug maker later this decade. (

* MetLife Inc was hit with the largest New York state fine against an insurer - $50 million - to settle allegations that its international operations sold insurance in the state to multinational companies without proper licensing. (

* Arista Networks Inc disclosed plans to go public that come with an unusual twist: a dispute with one of its founders over software used in the startup's networking hardware. The company said it received breach-of-contract allegations from a company called Optumsoft Inc that was founded by David Cheriton, a Stanford University computer science professor who stepped down from Arista's board of directors on March 1. (

* U.S. safety regulators issued a new and long-awaited rule Monday to require auto makers to install rear-visibility technology in all new vehicles starting in May 2018, the latest in an effort to reduce injuries and deaths caused by backup accidents. (

* Chevron Corp will pursue claims against Washington, D.C., based law firm Patton Boggs Llp against a $9.5 billion environmental verdict in Ecuador saying the firm played "a pivotal role" in concealing misdeeds behind the verdict. (

* Exxon Mobil Corp says future regulations to protect the climate don't threaten the value of its oil and gas reserves, arguing that economies will need the fuels too much to embrace drastic cuts in greenhouse-gas emissions. (

* Total compensation for Facebook Inc chief executive and founder Mark Zuckerberg tumbled 67 percent to $653,165 in 2013, as he declined to participate in the bonus plan for the year and took only a base salary of $1. (

* Macy's Inc promoted Chief Merchandising Officer Jeffrey Gennette to president, giving the executive new responsibilities that could eventually pave the way for him to lead the company, people familiar with the situation said. ( (Compiled by Ankush Sharma in Bangalore)

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