Daily business briefing: Bankrupt Furniture Brands has lead bidder

October 3, 2013 

A New York company has taken the lead to purchase Furniture Brands. The St. Louis Business Journal reports that KPS Capital Management is now the stalking horse bidder in the bankruptcy case of St. Louis-based Furniture Brands International. KPS' $280 million offer is $20 million higher than competing bids. Read more at http://www.bizjournals.com/stlouis. ...

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Going into the third day of the U.S. government shutdown, the Dow Jones futures and the broader S&P 500 futures are down 0.3 percent. In Europe, the FTSE 100 index of leading British shares was up 0.2 percent at 6,448, but Germany's DAX fell 0.1 percent to 8,623, and the CAC-40 in France was 0.4 percent lower at 4,143. Learn more at http://www.bnd.com/business. ...

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The initial sign up for health insurance under the nation's historic health care overhaul has created delays over phone lines and websites. The federal government and the states that are running their own insurance exchanges are now trying to fix these problems amid strong demand for the private insurance plans. Find out more at http://www.bnd.com/business. ...

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Baseball playoffs are underway, and the teams that are in are not all from large markets. The Pittsburgh Pirates, 26th among Major League Baseball's 30 teams with a $73.6 million payroll, begin its National League division series Thursday afternoon with the St. Louis Cardinals. In the American League, the Oakland Athletics are in the a $71.1 million payroll that ranks 27th in the league. Also in the AL, the Tampa Bay Rays, 28th at $65.6 million, defeated the Cleveland Indians, 21st at $88.6 million, in a one-game wildcard play-off game Wednesday night. Read more at http://www.bnd.com/business.

-- Will Buss, BND business writer

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