Today's Headlines

Bloomberg:

• Reid Slams House Plan as Senate Pauses for Boehner Move. Senate Majority Leader Harry Reid rejected a House plan to halt the fiscal impasse, as Senate leaders put on hold bipartisan talks aimed at ending the 15-day-old government shutdown and preventing a default.

• Shiller Views U.S. Stocks as ‘Highly Priced’: Chart of the Day.

• Bodies Double as Cash Machines With U.S. Income Lagging: Economy. Hair, breast milk and eggs are doubling as automated teller machines for some cash-strapped Americans such as April Hare. Out of work for more than two years and facing eviction from her home, Hare recalled Louisa May Alcott’s 19th-century novel and took to her computer.

• Apple(AAPL) Hires Burberry Chief to End Search for Retail Head. Apple Inc. (AAPL) hired Burberry Group Plc (BRBY) Chief Executive Officer Angela Ahrendts as head of retail operations, ending a yearlong search and adding the first woman to its 10-member executive team.

Wall Street Journal:

• House, Senate Work on Competing Budget Proposals. GOP Leaders Wavering Over Whether to Bring Initiative to the Floor.

• Budget Battle: Streaming Coverage.

• Citigroup(C) Results Hit by Weak Fixed Income Trading.

• Health Law Stirs Lending Worries for Small Business. Small businesses are griping that the new U.S. health-care law is difficult to understand. Now some may have another complaint: If they don’t have a handle on the law’s cost and impact, they may have a harder time getting a loan.

Fox News:

• White House, Dems preemptively blast House GOP budget plan before it's introduced.
  The White House and its Democratic allies in Congress moved to shoot down an emerging House Republican budget proposal before it even left the ground, blasting the late-breaking plan as a "partisan" product that would imperil efforts to meet the looming debt-ceiling deadline. Senate Democratic Leader Harry Reid turned a deaf ear, declaring categorically that it "won't pass the Senate."

Zero Hedge:

• So Much For Negotiating: White House Rejects House Republican Proposal.

• Treasury Bills Collapse. (graph)

• NY Fed Looks To Seal Documents In Latest Whistleblower Case. 

• Foodstamp Program Shutdown Imminent?

• Are We Approaching Peak Retirement?

Mish's Global Economic Trend Analysis:

• VAT Increase Backfires in Spain, Supermarket Sales Plunge 7.2%. 

9to5Google:

• Google(GOOG) Watch is happening soon, heavy into Kit Kat/Google Now functionality.

Reuters:

• Bank of Italy examines loan books of top two banks - sources. The Bank of Italy is examining the loan books of the country's top lenders UniCredit and Intesa Sanpaolo, three banking sources said on Tuesday, in its push to tidy their balance sheets before next year's sector check-up by the European Central Bank (ECB).

Yonhap News:

• N. Korea ready to make another nuke test anytime: S. Korean envoy. North Korea has "very serious nuclear capabilities" and it is able to conduct another round of nuclear tests "any time," South Korea's nuclear envoy said Tuesday. The communist country has restarted a nuclear reactor at its Yongbyon nuclear center, a provocative move that would provide Pyongyang with enough plutonium to build one atomic bomb a year, according to Seoul's spy agency.