PRESS DIGEST- New York Times business news - Oct 4

Reuters

Oct 4 (Reuters) - The following are the top stories on theNew York Times business pages. Reuters has not verified thesestories and does not vouch for their accuracy.

* Twitter , which was built on messages so shortthey could be texted on a cellphone, revealed on Thursday justhow central smartphones and tablets are to its business -underscoring the technology industry's rapid transition to amobile world. Twitter filed with U.S. regulators to raise $1billion in an initial public offering - the most hotlyanticipated stock sale since Facebook Inc went publiclast year - will make early employees and investors in thecompany very rich. ()

* Speaker John Boehner has privately told Republicanlawmakers anxious about a fallout from the government shutdownthat he would not allow a potentially more crippling federaldefault as the atmosphere on Capitol Hill turned increasinglytense on Thursday. ()

* Republican efforts to resolve the fiscal standoff that hasclosed much of the federal government heated up Thursday, thethird day of the shutdown, with new talks over a broad budgetdeal and an effort by more moderate House members to break thelogjam. ()

* Timothy Massad, an assistant secretary of the Treasury, isamong those under consideration to succeed Gary Gensler asleader of the Commodity Futures Trading Commission, according topeople briefed on the matter. Massad, who oversees financialstability issues at Treasury, has expressed interest in the job,one of the people said. ()

* The Massachusetts secretary of the commonwealth orderedCitigroup Inc to pay a $30 million fine for allowing ananalyst to share unpublished research related to Apple Inc's iPhones with SAC Capital Advisors in violation ofsecurities rules. The analyst leaked the information toemployees at T Rowe Price Group Inc and the hedge fundCitadel, which then traded in Apple shares. A third hedge fund,GLG Partners, also got the information. ()

* Hackers infiltrated the computer system of the softwarecompany Adobe Systems Inc, gaining access to creditcard information and other personal data from 2.9 million of itscustomers, the company said on Thursday. ()

* Mark Cuban sent out a series of emails saying that he hadsold his shares in the search engine company Mamma.com becausehe had received information that the company was about torecruit private investors whose contributions would dilute thevalue of the public shares, a Securities and Exchange Commissionlawyer said on Thursday. ()

* The U.S. government is partly shut down, but a biggerconcern for financial executives is a potential default onpublic debt should Congress fail to raise the nation's borrowinglimits. Financial companies are making some early preparationsjust in case. ()

* On the first Friday morning of almost any other month allthe attention would be focused on two numbers: the latestgovernment estimates for unemployment and job creation. ThisFriday, however, much of the government will be closed. As aresult, the economists and statisticians at the Bureau of LaborStatistics will be at home, and everyone from Fed chairman BenBernanke to thousands of traders will be left without one of themost important clues to the state of the economy. ()

* Manhattan's garment district is undergoing a renaissance,with the recent sale and refurbishment of many office buildingsand an influx of tenants from media, advertising, entertainment,technology and other, nonfashion industries. ()

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