PRESS DIGEST - Wall Street Journal - Oct 15

Reuters

Oct 15 (Reuters) - The following are the top stories in theWall Street Journal. Reuters has not verified these stories anddoes not vouch for their accuracy.

* Top Senate leaders said they were within striking distanceof an agreement Monday to reopen the federal government anddefuse a looming debt crisis just days before the U.S. could runout of money to pay its bills. ()

* A UK investigation into potential manipulation of currencymarkets is looking at a former Royal Bank of Scotland trader, Richard Usher, who participated in electronic chatsessions with traders at other banks, according to peoplefamiliar with the investigation. ()

* Brazilian tycoon Eike Batista has signed a definitiveagreement to sell a majority stake in another of his key assetsas he advances a plan to shore up his heavily indebtedcompanies. Mining company MMX Mineracao e Metalicos,which is controlled by Batista, said that Abu Dhabi's MubadalaDevelopment Co and Dutch investment fund Trafigura Group haveagreed to pay $400 million to buy a majority stake in a port inItaguai, in the south of Rio de Janeiro state. ()

* Many U.S. banks are starting to see new growth from theold business of commercial real-estate loans. Recoveringproperty values and improvements in borrowers' credit qualityare driving the revival, after years of retrenchment. ()

* The prospects for a streamlined bankruptcy at EnergyFuture Holdings, one of the nation's largest utilities, werethrown into doubt on Monday, after creditors failed to agree onhow to rework the company's finances. ()

* Sony Pictures Television will become the first bigHollywood studio to produce a new TV show for Netflix,underscoring how the TV industry's elite are starting to viewthe streaming video service as a launch pad for original series.()

* Capitol Bancorp Ltd Monday agreed to sell itsfour remaining consolidated banks to Talmer Bancorp Inc, aMichigan bank holding company backed by billionaire financierWilbur Ross. ()

* The court-appointed administrator in charge of windingdown MF Global Holdings Ltd is concerned about the "exorbitant"defense fees being rung up by lawyers defending Jon Corzine andother former executives and managers in a securities fraudlawsuit. ()

* Amazon.com is setting up shop inside thewarehouses of P&G and some other suppliers in its effort to selleveryday products like toilet paper, diapers and shampoo. ()

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