PRESS DIGEST - Wall Street Journal - Oct 11

Reuters

Oct 11 (Reuters) - The following are the top stories in theWall Street Journal. Reuters has not verified these stories anddoes not vouch for their accuracy.

* President Obama held talks with House Republicans on a GOPproposal to extend the nation's borrowing authority for sixweeks, marking a new opening in the stalemate. Until now, Obamahad refused to negotiate until the government was reopened andthe debt ceiling raised. Republicans, in turn, said those stepsmust be paired with a deficit-reduction plan and changes to the2010 health care law that they knew Obama wouldn't accept.()

* China is overtaking the United States as a buyer of MiddleEast oil, adding fuel to diplomatic tension between the nationsover security in the region. ()

* Federal officials are discussing changes to how thegovernment releases sensitive economic data, seeking to bringthe system in line with fast-moving financial markets. ()

* A Tesoro Logistics crude pipeline spilled about20,000 barrels of oil in a rural field in northwest NorthDakota, in what appears to be the largest spill in the Bakkenshale formation to date. ()

* Clothing exports from Bangladesh soared over the summerbecause global retailers expanded orders despite a string ofdeadly industrial accidents. ()

* Auction house Christie's is branching out to attract lesswealthy customers, while Sotheby's has targetedmillionaires. The differences also show up in Sotheby's laggingsales. The divergent results have prompted investors andcollectors to look more closely at the auctioneers' game plans. ()

* BlackBerry Ltd co-founder Mike Lazaridis has hiredbankers to explore a joint bid for the smartphone company thatforced him out as co-chief executive less than two years ago. ()

* Alibaba Group Holding Ltd has led a $206million investment in a rival to Amazon.com Inc one ofits biggest U.S. moves as the Chinese e-commerce giant considersan initial public offering here. ()

* Teva Pharmaceutical Industries Ltd plans toreduce its global workforce by 10 percent, or 5,000 employees,underscoring growing competitive pressures in the generic-drugindustry. ()

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