Reuters: Regulatory News: PRESS DIGEST-New York Times business news - April 17

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PRESS DIGEST-New York Times business news - April 17 Apr 17th 2013, 06:22 April 17 | Wed Apr 17, 2013 2:22am EDT April 17 (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. * Goldman Sachs Group Inc reported a first-quarter profit of $2.19 billion, or $4.29 a share, up 5 percent from the year-ago period and driven by investment banking and lending, but the bank faces many market and regulatory challenges. () * Fairway's initial public offering got off to a strong start Tuesday evening, with the U.S. grocery chain pricing its shares at $13 each, above the expected range, according to a person briefed on the matter. It raised $177.5 million, valuing the whole company at $536.1 million. () * A judge has approved a settlement between the hedge fund SAC Capital Advisors and securities regulators that allows the firm to pay a $602 million fine to resolve a civil insider trading case without admitting any guilt, but he conditioned his ruling on a pending ruling from the Federal Appeals Court. () * In a major policy move, the Food and Drug Administration said on Tuesday that it would not approve generic versions of the powerful narcotic OxyContin, the painkiller that symbolized a decade-long epidemic of prescription drug abuse. () * After fierce industry lobbying and internal bickering, the Securities and Exchange Commission is moving closer to overhauling the money market fund industry. Just days after Mary Jo White became its chairwoman, the agency's spokesman, John Nester, said on Tuesday that "the staff expects to have something for the commission's consideration in the near future." () * AMR Corp unit American Airlines was forced to ground all of its flights for several hours on Tuesday after a nationwide problem with its computer systems. By late afternoon, its computers were back up and its operation were slowly coming back to life. () * Google Inc is recruiting developers to build apps for its Internet-connected glasses, but it is being unusually restrictive as it slowly introduces the new technology to a wary public. () * A jury in Chicago rejected claims on Tuesday that the orthopedics unit of Johnson & Johnson inappropriately marketed an artificial hip, which the company recalled in 2010. () * The U.S. Justice Department's top antitrust enforcer said on Tuesday that he supported limits on how much of the nation's airwaves a single wireless company could hold, a condition that could keep AT&T Inc and Verizon Communications Inc from bidding on certain blocks of airwaves during auctions. () Link this Share this Digg this Email Reprints

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