October 11, 2013 / 5:26 AM / in 4 years

PRESS DIGEST- New York Times business news - Oct 11

Oct 11 (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.

* President Obama and House Republicans failed to reach an agreement on a six-week extension of the nation’s borrowing authority during a meeting on Thursday, but the two sides kept talking, and the offer from politically besieged Republicans was seen as an initial step toward ending the budget standoff. ()

* In the exchanges created by the Affordable Care Act, Blue Cross and Blue Shield plans offer name recognition and price advantages. Blue Cross and Blue Shield plans have typically been the largest insurers providing coverage primarily to individuals and small businesses, and they remain a staple on the new exchanges. What is not yet clear is whether the Blues plans are offering low prices to gain customers, only to raise prices in later years. ()

* With enthusiastic backing from state officials and an estimated seven million uninsured, California is a crucial testing ground for the success of President Obama’s health care law. California is building the country’s largest state-run health insurance exchange and has already expanded Medicaid coverage for the poor. ()

* A lawsuit accuses Warner Brothers of stealing the screenplay of its 2012 movie “Trouble With the Curve” and of manufacturing evidence in their defense. In an unusually sharp response to a lawsuit filed last week, the studio publicly called the accusations of script theft “reckless and false”. ()

* Carmen Segarra, a former bank examiner for the New York Federal Reserve, claims in a suit that she was fired by the Fed for refusing to back down on a plan to downgrade Goldman Sachs Group Inc for its conflict-of-interest policy. ()

* Investors embraced signs of a political compromise that could avert a default on government debt, sending stocks surging on Thursday, but the air quickly went out of Wall Street’s balloon after it remained clear that a deal was not yet at hand. ()

* The two men who founded the company that became BlackBerry Ltd may now try to save it. In a regulatory filing on Thursday, Mike Lazaridis and Douglas Fregin said that they were considering a bid for the 92 percent of the company that they do not own. They also said they had hired Goldman Sachs Group Inc and Centerview Partners as advisers. ()

* The Securities and Exchange Commission says that Rodrigo and Michel Terpins acted on inside information about the H.J. Heinz Co takeover to turn $90,000 into $1.8 million. After receiving a confidential tip that the Heinz deal was looming, Michel Terpins alerted his brother, who then served as the trader, the SEC said. The Terpins brothers routed their trades through a Goldman Sachs account in Zurich, where laws largely shield the account holder’s identity. ()

* The Delaware Supreme Court on Thursday unanimously reversed a lower court ruling on Activision Blizzard Inc’s move to buy back most of Vivendi SA stake in the video game maker for $8.2 billion, letting the transaction move forward. The deal is now expected to close next week. ()

* A jury in Los Angeles cleared Toyota Motor Corp of fault on Thursday in a fatal 2009 accident in which a 66-year-old woman crashed her Camry. The case is the first of about 85 personal injury and wrongful death lawsuits brought against Toyota in the California state court because of complaints related to sudden, unintended acceleration and the resulting wave of recalls in 2009 and 2010. ()

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