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PRESS DIGEST-New York Times business news - Sept 13
September 13, 2013 / 4:41 AM / 4 years ago

PRESS DIGEST-New York Times business news - Sept 13

Sept 13 (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, which began as a side project in a small but failing start-up seven years ago and grew into one of the world’s largest platforms for public conversation, is about to take its biggest step yet into maturity: selling stock to the public. The company announced on Thursday - in a tweet, one of the 140-character messages that are the backbone of the service - that it had filed paperwork with regulators to eventually sell shares in an initial public offering. ()

* The Securities and Exchange Commission is asking the nation’s stock exchanges to introduce “kill switches” and other technological changes after the latest in a long line of computer problems scrambled stock trading. The relatively new chairwoman of the agency, Mary Jo White, asked for the changes at a meeting on Thursday with the top executives of the nation’s exchanges. ()

* After months of hurdles, Michael Dell is finally poised to buy full control of the company that bears his name, in his biggest move yet to turn around the computer maker’s fortunes as its industry goes through tectonic shifts. But a newly private Dell will most likely look much like the current one. ()

* With Congress momentarily freed from the Syrian crisis, lawmakers plunged back into their bitter fiscal standoff on Thursday as Speaker John Boehner appealed to the Obama administration and Democratic leaders to help him resolve divisions in the Republican ranks that could lead to a government shutdown by month’s end. ()

* A federal advisory committee cleared the way on Thursday for the first approval of a cancer drug that would be used to treat patients before surgery to remove their tumors. The advisory committee to the Food and Drug Administration voted 13 to 0, with one abstention, that Perjeta, a Genentech drug approved last year for late-stage breast cancer, could also be used at the disease’s earliest stage. ()

* A federal judge approved American Airlines’ bankruptcy plan on Thursday but ruled that the decision was contingent on Justice Department approval of the carrier’s merger with US Airways Group Inc. ()

* On Thursday, Hilton Hotels filed for an initial public offering, seeking to raise $1.25 billion. When it begins to trade, Hilton could be valued at around $30 billion. ()

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