PRESS DIGEST - Wall Street Journal - Oct 4

Reuters

Oct 4 (Reuters) - The following are the top stories in theWall Street Journal. Reuters has not verified these stories anddoes not vouch for their accuracy.

* Twitter on Thursday revealed plans to raiseup to $1 billion in an initial public offering, looking to cashin on a messaging service that has transformed publicconversation but is still losing money. ()

* Senior Republicans in Congress, frustrated over theirinability to strike a deal to reopen the government, beganshifting from their drive to undercut the 2010 health-care lawtoward a broader budget deal. ()

* Citigroup agreed to pay one of the biggest fines forimproper research practices in a decade after investigators saidan analyst leaked negative information about Apple Inc and a supplier to four big investment firms before it wasreleased to the public. Citigroup was fined $30 million byMassachusetts. A national regulator is also investigating. ()

* SAC Capital Advisors LP is looking for a buyer for aBermuda-based reinsurance company that the embattled hedge fundfirm launched in 2012. Several investors have been informallyapproached about buying SAC Re, including hedge fund Pine RiverCapital Management, according to people familiar with the talks.()

* Activist hedge-fund manager Bill Ackman has seen hisfirm's assets under management decline by $2 billion from a highpoint earlier this year, largely due to investment declinesfollowing setbacks with a soured bet on JCPenney and abig bet against Herbalife. ()

* SEC Chairwoman Mary Jo White criticized attempts toencroach on the agency's independence, saying recent moves byCongress and the courts circumvent the SEC's expertise andjudgment. ()

* Mark Cuban, the billionaire businessman, testified hedidn't recall aspects of a conversation that is a central partof the government's case against him. The SEC filed a civillawsuit against Cuban in November 2008, alleging that heviolated federal securities laws in 2004 when he sold his entirestake in Mamma.com. ()

* Amazon.com Inc is taking steps toward releasing avideo-streaming device in time for the holiday selling season,according to people briefed on the company's plans. ()

* Boeing Co's deliveries of commercial jets rose 14percent in the third quarter from a year earlier, helped byincreased output of its 787 Dreamliner amid continued glitchesthat have plagued the flagship plane. ()

* Sotheby's CEO Bill Ruprecht learned how to makeart long before he learned how to sell it. Now, his knowledge ofart and business are both being challenged by an attack from theauction house's largest shareholder, Daniel Loeb. ()

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