PRESS DIGEST - Wall Street Journal - Oct 7

Reuters

Oct 7 (Reuters) - The following are the top stories in theWall Street Journal. Reuters has not verified these stories anddoes not vouch for their accuracy.

* The government shutdown enters its second week with thetwo parties still bitterly divided and Republicans increasinglytying the fight to a fast-approaching deadline to avoid adefault on U.S. debt. House Speaker John Boehner said hewouldn't bring up bills to fully reopen the government or raisethe debt limit unless Democrats agree to broader talks aimed attrimming the deficit. ()

* Ireland's voters delivered a surprise rebuff to PrimeMinister Enda Kenny in rejecting his proposal to close the upperhouse of the legislature, potentially weakening his ability topush through another round of tough spending cuts and taxincreases when the government presents its 2014 budget thismonth. ()

* Warren Buffett tossed lifelines to a handful of bluechipcompanies during the financial crisis. Five years later thepayoff on those deals is becoming clear: $10 billion andcounting. ()

* With the government shutdown heading toward a second week,economists say it could hold back economic growth, businessconfidence and corporate earnings, but probably won't cause arecession. Many money managers doubt the damage will be lasting.Any stock selloff, they say, would be a great buyingopportunity. ()

* In its IPO filing, Twitter Inc disclosed howmuch the microblogging platform earned from a lesser-known sidebusiness: $47.5 million came from selling off its data to afast-growing group of companies that analyze the data forinsights into news events and trends. ()

* Six days into the launch of insurance marketplaces createdby the new healthcare law, the federal government acknowledgedfor the first time Sunday it needed to fix design and softwareproblems that have kept customers from applying online forcoverage. ()

* Star mutual-fund manager Bruce Berkowitz is opening up hisnascent hedge fund to institutional investors. Berkowitz, thepresident of Fairholme Capital Management LLC, launched the fundon Jan. 1 and it has grown to $140 million. He is now seekingoutside institutional investors and hopes the fund will grow to$1 billion in assets in a year. ()

* Dish Network Corp has again come under fire overits takeover bid for a telecommunications firm, a potential dealthat could be personally lucrative for Dish Chairman CharlieErgen. ()

* Wal-Mart Stores Inc's top executive for Asia saidthe company has revamped its practices and legal compliance inthe region and is considering acquisitions in China, as theretailer faces headwinds in a cornerstone of its globalexpansion plans. ()

* Macy's Inc has shelved an online-expansion plan inChina, the latest retailer to do so as economic growth slows inthe world's second-largest economy. The company had planned tobegin online sales of a private-label brand in China in thespring, after buying a minority stake last year in Chineseretail company VIPStore Co. ()

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