PRESS DIGEST - Wall Street Journal - Oct 14

Reuters

Oct 14 (Reuters) - The following are the top stories in theWall Street Journal. Reuters has not verified these stories anddoes not vouch for their accuracy.

* Senate leaders attempting to avoid a U.S. debt defaultremained at loggerheads Sunday and escalated the standoff byreopening the contentious issue of automatic spending cuts,damping hopes that some of Congress's most canny negotiatorswould break the impasse. ()

* The government shutdown and debt-ceiling fight areclouding the outlook for the global economy and markets, butthey are bringing clarity to one area: The Federal Reserve isnow likely to keep its foot on the monetary gas pedal evenlonger to offset damage from the standoff. ()

* Twitter Inc is parlaying its surgingpopularity and the intense competition among banks for Internetdeals to squeeze unusually favorable terms from the firms thatwill take it public. The fees banks are set to collect forselling the shares - at 3.25 percent of the money raised, saidpeople familiar with the deal - would be the lowest percentagepaid on a U.S.-listed IPO in more than a year, according toIpreo, a capital-markets data and advisory firm. ()

* Netflix Inc is in talks with several U.S.pay-television providers including Comcast Corp andSuddenlink Communications to make its online videoservice available as an app on their set-top boxes, peoplefamiliar with the matter say. ()

* General Motors Co on Monday will open a $200million metal-stamping plant adjacent to its Arlington, Texas,factory. By locating parts near the assembly plant, GM hopes tosave about $40 million a year in shipping costs. ()

* America's road to recovery faces a costly detour due tocongestion in key shipping roads and a fraying transportationnetwork that is expected to raise annual costs by $430 billionby 2020. ()

* Sifting through the wreckage of the worst municipal-bondrout since the financial crisis, some investors say they arefinding bargains in the debt issued by states, cities and localgovernment-related entities. ()

* Some investors and analysts are beginning to think aboutwhether Berkshire Hathaway Inc will remain such adesirable place to work for senior executives after WarrenBuffett turns over the reins. ()

* As investment banking in Asia suffers its worst year since2009, instead of proclaiming their work on the latest IPO ormerger deal, banks are touting their success in grind-it-outbusinesses like cash management and cross-border transactions.()

* In July, Google Inc made what Chief ExecutiveLarry Page called "the biggest-ever change" to its cash-cowsearch-advertising service, completing the transition to"enhanced campaigns". When Google reports its third-quarterresults on Thursday, investors will see whether the new systemis enhancing the bottom line. ()

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