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TheStreet Open House

Business Highlights

By The Associated Press

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Twitter unseals IPO papers, hopes to raise $1 billion

NEW YORK (AP) â¿¿ Twitter has unsealed the documents for its planned initial public offering of stock and says it hopes to raise up to $1 billion.

The company is also disclosing that it generated $317 million in revenue in 2012 and that it had more than 218 million active users as of the end of June, up 44 percent from a year earlier. That compares with Facebook's nearly 1.2 billion and LinkedIn's 240 million.

The company disclosed last month that it had filed confidential IPO papers to start the process of going public. On Thursday, San Francisco-based Twitter Inc. unsealed the papers with the Securities and Exchange Commission.

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With no jobs report, what's an economist to do?

WASHINGTON (AP) â¿¿ The latest victims of the government's partial shutdown: policy wonks, politicians and TV talking heads who are losing their monthly opportunity to dissect the jobs report issued by the Bureau of Labor Statistics.

The ritual unfolds every month: The jobs report comes out, and Wall Street panics or exults. Political advocates spin. And economic analysts crowd cable-TV to offer us their insights.

It happens the first Friday of the month at 8:30 a.m. Eastern time.

Except this Friday.

The government's partial shutdown means the September jobs report is being postponed. The workers who produce it aren't deemed "essential," which is why they're among the 800,000 federal employees being furloughed.

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Tesla fire shows electrics face safety challenges

When debris on a Seattle-area freeway pierced the battery of a $70,000-plus Tesla Model S and touched off a raging fire, it raised new safety concerns for electric-vehicle owners.

It also caused rare jitters among investors, who of late have viewed Tesla as nearly invincible.

Electric vehicles have scored well in government tests of front and side crashes â¿¿ the Model S earned the highest score possible. But Tuesday's incident demonstrates that real-world driving could reveal some vulnerabilities that don't show up in laboratory testing.

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