"Wallstreet" Reader

"Wallstreet" Reader


GOP Elevates New Faces

Posted: 17 Nov 2010 07:07 PM PST

House Republican freshmen chose Reps.-elect Tim Scott and Kristi Noem for new leadership positions as the party looked to capitalize on its midterm-election victories by boosting its appeal to women, minorities and young voters.

GM Stock Sale Roars Into High Gear

Posted: 17 Nov 2010 07:18 PM PST

GM is on pace to sell $18.1 billion in shares in what likely will be the second-largest U.S. IPO ever, capping a remarkable two-year turnaround in which the car maker went from begging for a bailout to posting its first steady profits in more than six years.

Gold's Rise Re-Crafts Jewelry

Posted: 17 Nov 2010 05:03 PM PST

Big jewelry chains are scrambling to cope with the rising price of bullion while striving to keep their baubles affordable for consumers still wrestling with stagnant wages and high unemployment.

Schlumberger Probed Yemen Payments

Posted: 17 Nov 2010 06:51 PM PST

New documents have emerged relating to possible bribery in Yemen by global oil-services giant Schlumberger.

Morgan Stanley's Government Gig

Posted: 17 Nov 2010 06:25 PM PST

Goldman Sachs may be the better revolving door for executives who wind up in top government jobs. But Morgan Stanley is at the top of the heap among firms doing stock offerings for governments.

Vilsack: Food Costs Won't Surge

Posted: 17 Nov 2010 03:32 PM PST

The U.S. Agriculture Secretary said skyrocketing prices in the futures markets won't translate into as big a bump in food costs for consumers

Pit Bulls: Cerberus Makes a Killing Again

Posted: 17 Nov 2010 06:20 PM PST

Cerberus Capital was bloodied by the financial crisis, but now it is benefiting from rebounding credit markets.It is profiting from a gutsy move to buy huge amounts of troubled residential-mortgage bonds.

Dell's Mobile Chief to Quit

Posted: 17 Nov 2010 07:21 PM PST

The executive in charge of Dell's mobile business is leaving the company and his division is being shut down, the latest sign the company continues to struggle to expand beyond its core business of selling computers to businesses.

EU Plan for Ireland Takes Shape

Posted: 17 Nov 2010 06:49 PM PST

European officials are pressing to recapitalize Ireland's wounded banks with money from an international bailout fund, indicating that the contours of an aid package to the country are taking shape even as Dublin insisted it didn't need help.

Ex-Ford Engineer Pleads Guilty in Trade-Secrets Case

Posted: 17 Nov 2010 03:15 PM PST

A former Ford engineer who went to work for a Chinese competitor pleaded guilty in federal court to two counts of stealing trade secrets.

Verizon Rethinks Data Pricing

Posted: 17 Nov 2010 06:23 PM PST

Verizon executives are exploring ways to charge consumers based on the speed of their wireless data connection in addition to the amount of data they use.

Chrysler Unveils Fiat 500 in U.S.

Posted: 17 Nov 2010 02:19 PM PST

Fiat made its official return to the U.S. market after a 25-year absence with the unveiling of its Fiat 500 subcompact car at the Los Angeles Auto Show.

California Bond Deal Bodes Ill for States

Posted: 17 Nov 2010 06:23 PM PST

Strapped states and cities took another hit, with California seeing tepid demand for its latest bond sale and other governments pulling about $700 million worth of borrowing deals this week.

Germany Warns of Terror Attack

Posted: 17 Nov 2010 01:39 PM PST

German security agencies have evidence that militants are planning to attack the country later this month, Interior Minister Thomas de Maizière said.

Court Gives Life to Death-Bet Insurance

Posted: 17 Nov 2010 04:26 PM PST

New York state's highest court ruled that it is legal for somebody to take out a life-insurance policy and immediately sell it to a stranger. The case involves insurance taken out on New York lawyer Arthur Kramer.

Comerica Dividend Move Could Spur Other Banks

Posted: 17 Nov 2010 12:18 PM PST

Comerica became the first large U.S. retail bank to raise its dividend after the financial crisis, possibly providing a road map for other banks that cut their payouts during the crisis to preserve capital.

Air France-KLM Swings Back to Profitability

Posted: 17 Nov 2010 11:52 AM PST

Franco-Dutch airline Air France-KLM reported that it swung to profitability in the past quarter, fueled by a recovery in revenue from passenger and cargo operations after the depressed levels of a year earlier.

Bail Set For Doctor in Insider-Trading Case

Posted: 17 Nov 2010 12:06 PM PST

Bail was set at $3 million for Yves M. Benhamou, a French doctor who allegedly tipped a hedge-fund manager with confidential information in an insider-trading scheme.

Murkowski Wins Alaska Senate Seat

Posted: 17 Nov 2010 12:19 PM PST

Alaska Sen. Lisa Murkowski became the first Senate candidate in more than 50 years to win a write-in campaign, the AP reported.

Pelosi Elected House Democratic Leader

Posted: 17 Nov 2010 11:53 AM PST

Democrats in the House voted 150-43 to keep House Speaker Nancy Pelosi as their leader in the new Congress.