PRESS DIGEST - Wall Street Journal - Oct 4
Oct 4 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
* Twitter on Thursday revealed plans to raise up to $1 billion in an initial public offering, looking to cash in on a messaging service that has transformed public conversation but is still losing money. ()
* Senior Republicans in Congress, frustrated over their inability to strike a deal to reopen the government, began shifting from their drive to undercut the 2010 health-care law toward a broader budget deal. ()
* Citigroup agreed to pay one of the biggest fines for improper research practices in a decade after investigators said an analyst leaked negative information about Apple Inc and a supplier to four big investment firms before it was released to the public. Citigroup was fined $30 million by Massachusetts. A national regulator is also investigating. ()
* SAC Capital Advisors LP is looking for a buyer for a Bermuda-based reinsurance company that the embattled hedge fund firm launched in 2012. Several investors have been informally approached about buying SAC Re, including hedge fund Pine River Capital Management, according to people familiar with the talks. ()
* Activist hedge-fund manager Bill Ackman has seen his firm's assets under management decline by $2 billion from a high point earlier this year, largely due to investment declines following setbacks with a soured bet on JCPenney and a big bet against Herbalife. ()
* SEC Chairwoman Mary Jo White criticized attempts to encroach on the agency's independence, saying recent moves by Congress and the courts circumvent the SEC's expertise and judgment. ()
* Mark Cuban, the billionaire businessman, testified he didn't recall aspects of a conversation that is a central part of the government's case against him. The SEC filed a civil lawsuit against Cuban in November 2008, alleging that he violated federal securities laws in 2004 when he sold his entire stake in Mamma.com. ()
* Amazon.com Inc is taking steps toward releasing a video-streaming device in time for the holiday selling season, according to people briefed on the company's plans. ()
* Boeing Co's deliveries of commercial jets rose 14 percent in the third quarter from a year earlier, helped by increased output of its 787 Dreamliner amid continued glitches that have plagued the flagship plane. ()
* Sotheby's CEO Bill Ruprecht learned how to make art long before he learned how to sell it. Now, his knowledge of art and business are both being challenged by an attack from the auction house's largest shareholder, Daniel Loeb. ()
