October 11, 2013 / 5:41 AM / 4 years ago

PRESS DIGEST - Wall Street Journal - Oct 11

Oct 11 (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.

* President Obama held talks with House Republicans on a GOP proposal to extend the nation’s borrowing authority for six weeks, marking a new opening in the stalemate. Until now, Obama had refused to negotiate until the government was reopened and the debt ceiling raised. Republicans, in turn, said those steps must be paired with a deficit-reduction plan and changes to the 2010 health care law that they knew Obama wouldn’t accept.()

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

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

* A Tesoro Logistics crude pipeline spilled about 20,000 barrels of oil in a rural field in northwest North Dakota, in what appears to be the largest spill in the Bakken shale formation to date. ()

* Clothing exports from Bangladesh soared over the summer because global retailers expanded orders despite a string of deadly industrial accidents. ()

* Auction house Christie’s is branching out to attract less wealthy customers, while Sotheby’s has targeted millionaires. The differences also show up in Sotheby’s lagging sales. The divergent results have prompted investors and collectors to look more closely at the auctioneers’ game plans. ()

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

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

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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below