PRESS DIGEST-New York Times business news - Oct 16

Oct 16 (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.

- Paul Allen, the co-founder of Microsoft Corp who helped usher in the personal computing revolution and then channeled his enormous fortune into transforming Seattle into a cultural destination, died on Monday in Seattle.

- Sears Holdings Corp in its bankruptcy filing on Monday argued that, given enough time and less debt, it would be able to reverse the decades-long decline of its retail business.

- The chief executives of the Blackstone Group LP and BlackRock Inc have canceled plans to attend an investment conference in Saudi Arabia next week, joining Jamie Dimon of JPMorgan Chase & Co as the latest Wall Street titans to pull back in the wake of the disappearance, and potential murder of a prominent Saudi journalist.

- Carl Icahn announced on Monday that he has acquired an 8.3 percent stake in Dell tracking stock. The billionaire activist investor said that he intended to oppose the company's plan to buy out owners of the tracking stock and return fully to the public stock markets. (Compiled by Bengaluru newsroom)