PRESS DIGEST- New York Times business news - Oct 28

Reuters

Oct 28 (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.

* U.S. Food and Drug Administration's move to tightenrestrictions for prescribing painkillers is a rare victory bylawmakers from states hard hit by prescription drug abuse overwell-financed lobbyists for business and patient groups. ()

* Cruise ships keep growing bigger, and more popular. Butthe expansion in ship size is worrying safety experts, lawmakersand regulators, who are pushing for more accountability, sayingthe supersize craze is fraught with potential peril forpassengers and crew. After a string of disasters at sea,lawmakers and regulators push for more accountability andquestion the size of the newest ships. ()

* The Obama administration has seemed uncertain how tohandle reports that the National Security Agency spied on theGerman chancellor, Angela Merkel, for several years. ()

* Economists and policy wonks behind the Affordable Care Actworry that the technical problems bedeviling the federal portalcould become much more than an inconvenience. If young andhealthy applicants decide to put off or give up on buyingcoverage, rising prices and even a destabilized insurance marketcould result. ()

* Social media giant Twitter is entering one of thestrongest markets for initial public offerings in three years,especially in the United States. Investors have shown a growingappetite for initial offerings, eager to take risks in hopes ofbig rewards when newly public companies' stocks rise. Retailinvestors, in particular the very wealthy, are also seekingexposure to soaring stock of new companies. ()

* Via its Goldman Sachs Foundation, led by Dina Powell,Goldman Sachs Group Inc, which many associate with WallStreet greed and excess, has staked out a position as one ofUnited States' leading corporate philanthropists. ()

* Financially struggling media companies are racing to addconferences, festivals and other live events to their businessstrategy, convinced they can provide a reliable revenue streamand expand the reach of their brands. The number oforganizations staging live events has surged in recent years,say publishers and their business partners, and concerns overconflict of interest, though still a delicate issue at somemedia companies, are largely bygone relics at others. ()

* As adults turn to mobile devices like tablets, Kindles,and iPhones, their children - even the smallest ones - are doingso as well, according to a new study by Common Sense Media, aSan Francisco-based nonprofit organization that examineschildren's use of technology, and rates children's apps, gamesand websites. Over the last two years, the shift has beendrastic. Among children under 2, the survey found, 38 percenthad used mobile devices like iPhones, tablets, or Kindles - thesame share as children 8 and under who had used such technologyin a similar survey two years ago. ()

* National Oceanic and Atmospheric Administration's Officeof Ocean Exploration and Research and the "Octonauts" producer,Silvergate Media, have signed a letter of intent to develop aformal partnership to raise awareness of ocean exploration andscience and advance NOAA's mission. ()

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