PRESS DIGEST - Wall Street Journal - Oct 16

Reuters

Oct 16 (Reuters) - The following are the top stories in theWall Street Journal. Reuters has not verified these stories anddoes not vouch for their accuracy.

* Last-minute protests from conservatives in the Housecreated a day of delay and confusion in Congress's efforts toavoid a U.S. debt default, as Republican leaders failed to crafta GOP budget proposal that could muster enough votes to pass. ()

* Speaker John Boehner assembled his restive troops Tuesdaymorning to unveil possibly the last chance for House Republicansto make their mark on a bill to fund the government and staveoff default. After a day of intrigue, the House leader'sproposal to reopen the government and extend the debt ceiling isrejected by conservatives in his Republican caucus. ()

* Twitter Inc revealed fresh financial detailsin a filing, including continued user growth but a wider loss inthe third quarter, as costs continued to outpace revenue. Italso picked the NYSE for its public listing. The filing advancesTwitter toward an initial public offering that could take placein November. ()

* Fitch Ratings warned it could strip the United States ofits top credit rating, in the latest sign that the brinkmanshipin Washington is eroding investors' confidence in U.S.institutions. Fitch placed its triple-A rating on the U.S. on"rating watch negative," saying a downgrade is possible by theend of the first quarter next year. ()

* Advance Auto Parts Inc plans to buy General Partsfor just over $2 billion, a takeover that would create one ofNorth America's largest after-market auto parts providers. ()

* Emerging-market investors' love affair with Mexico isshowing signs of strain as sluggish growth is weighing on theoutlook for the country's stock market, making other plays lookmore appealing by comparison. ()

* Jury deliberations begin on Wednesday to decide whetherDallas Mavericks basketball team owner Mark Cuban engaged ininsider trading when he sold his stake in an Internet searchfirm in June, 2004. ()

* JP Morgan Chase & Co has agreed to pay $100million to settle Commodity Futures Trading Commission chargesrelated to its "London whale" trading debacle of 2012, accordingto people familiar with the matter. ()

* A year after taking over as chief executive of CitigroupInc Michael Corbat is warning investors that the bank'ssprawling collection of businesses could face more weakness inthe months ahead. ()

* Struggling Brazilian oil company OGX Petroleo e GasParticipacoes SA, on Tuesday ousted two topexecutives, in a move that could herald a new investor in thecompany. The OGX board of directors, which is controlled byembattled tycoon Eike Batista, replaced Chief Executive LuizEduardo Carneiro, and Jose Faveret, the firm's legal officer,OGX said in a statement. ()

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