PRESS DIGEST- New York Times business news - Oct 25
Oct 25 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.
* Twitter disclosed that it planned to price its eagerly awaited initial public offering in the $17 a share to $20 a share range, as it readies a road show for investors. ()
* The Food and Drug Administration on Thursday recommended tighter controls on how doctors prescribe the most commonly used narcotic painkillers. The move, which represents a major policy shift, follows a decade-long debate over whether the widely abused drugs, which contain the narcotic hydrocodone, should be controlled as tightly as more powerful painkillers like OxyContin. ()
* Fury over reports that American intelligence had monitored the cellphone of Chancellor Angela Merkel spread from Germany to much of Europe on Thursday, plunging trans-Atlantic relations to a low and threatening to recast the United States and President Obama from friend and ally to cyberbully. ()
* When the stock market opened on Thursday, NQ Mobile Inc , a Chinese mobile security company, had a valuation of $1.1 billion. Just hours later, half of its value was erased. Muddy Waters, a short-selling firm known for its scathing reports on Chinese companies, released a harsh assessment of NQ Mobile on Thursday, calling it a "massive fraud." ()