PRESS DIGEST - Wall Street Journal - Sept 27

Sept 27 Fri Sep 27, 2013 1:13am EDT

Sept 27 (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.

* The U.S. and Iran held their highest-level talks in 36 years on Thursday, in what some officials present described as a substantial meeting over Tehran's disputed nuclear program that could begin to counter decades of enmity. ()

* Congress's rocky path to avoiding a government shutdown became even rougher Thursday, as Speaker John Boehner said the house wouldn't accept the spending plan likely to emerge from the Senate. ()

* Upstart BATS Global Markets, with its deal to merge with Direct Edge, is upending Wall Street's decades-old pecking order of exchanges. ()

* EBay agreed to buy Braintree, a global payment platform, for $800 million in cash, in a bid to grow its PayPal unit's mobile capabilities. ()

* J.C. Penney moved to raise as much as $1 billion by selling stock, boosting its cushion of cash ahead of what could be a hard-fought holiday season. ()

* Some marquee bond-fund managers who took a beating in the second quarter were vindicated when bets that the Federal Reserve would be cautious in paring its stimulus program recently paid off. ()

* JPMorgan CEO Dimon met with the U.S. attorney general amid intensifying talks of a possible $11 billion settlement over potential criminal and civil charges against the bank. ()

* Bloomberg LP's news division announced significant management changes that will result in a smaller number of editors reporting directly to Editor in Chief Matt Winkler. The reorganization comes as Bloomberg attempts to streamline the management lines of a news operation that has expanded to 2,400 journalists in recent years, reflecting broader growth at the company. ()

* Banks, brokers and investors are warning of potential turmoil in a major part of the derivatives market on Oct. 2, when new U.S. rules kick in governing how instruments known as swaps are traded. Swaps are derivatives, traditionally not traded on exchanges, which corporations and financial institutions use to protect against or speculate on changes in everything from fuel costs to interest rates. ()