PRESS DIGEST- New York Times business news - Oct 15
Oct 15 (Reuters) - 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.
- On Wednesday, one of the companies Twitter's Jack Dorsey runs, Square, the mobile payments start-up, made its initial public offering prospectus public, indicating it is close to a road show to sell stock to investors. (nyti.ms/1LlwZE0)
- Officials in the Treasury Department are discussing a radical and aggressive response to the fiscal chaos engulfing Puerto Rico that could involve a broad debt exchange assisted by the federal government. (nyti.ms/1OwObMX)
- The first criminal trial in the United States of traders accused of manipulating a global interest rate benchmark got underway in Manhattan on Wednesday. Two Britons, Anthony Allen and Anthony Conti, both former London-based traders at the Dutch bank Rabobank, are accused of conspiring to submit fraudulent rate reports for the benchmark known as Libor, or the London interbank offered rate, in order to help colleagues profit on trades. (nyti.ms/1GHShJW)
- Walmart Stores Inc startled investors on Wednesday by slashing its sales forecast for the year, warning that heavy investments in wages and in e-commerce would curb future earnings. Sales will be flat this year, Walmart said at a meeting with investors in New York. (nyti.ms/1LlxIVT)
(Compiled by Sneha Johny in Bengaluru)
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