"Wallstreet" Reader

"Wallstreet" Reader

J.Crew Buyout Offer Mixes Buyer and Seller

Posted: 23 Nov 2010 08:19 PM PST

J.Crew CEO Mickey Drexler cut a deal with two buyout firms to take the clothier private that lets him to keep his job. Shareholders must now decide if they got as sweet a deal.

Dispersant Rid Gulf of More Oil Than Estimated

Posted: 23 Nov 2010 07:12 PM PST

Chemical dispersants did a better job of breaking up oil spilled from BP's blown-out Gulf of Mexico well than previously estimated.

New Group Aims for Political Middle

Posted: 23 Nov 2010 05:50 PM PST

An alliance of centrist Republicans and Democrats is seeking to organize a grass-roots movement targeting the middle of American politics, a vital tool for any potential third-party presidential candidate.

Trading Inquiry Widens to Big Firms

Posted: 23 Nov 2010 06:42 PM PST

Federal authorities, intensifying an insider-trading investigation, are demanding information from the major investment firms SAC Capital, Citadel, Janus and Wellington.

Asia Drops on Korea Clash

Posted: 23 Nov 2010 08:16 PM PST

Asian share markets fell with South Korea's Kospi down 0.8% and Japan's Nikkei down 1% as investors there got their first chance to react to the clash on the Korean peninsula.

New Twist in Effort to Replace Refueling Tankers

Posted: 23 Nov 2010 04:27 PM PST

The U.S. Air Force has dismissed two people from the service's aerial-refueling tanker procurement after the unintentional release of confidential data to rival bidders. The move is the latest twist in a politically charged contest that pits Boeing against a unit of EADS.

Google in Talks to Show Miramax Films on YouTube

Posted: 23 Nov 2010 04:34 PM PST

Google is in talks to license digital rights to films from Miramax in order to show more professional content on YouTube.

BAB Program Likely to Get Another Year

Posted: 23 Nov 2010 06:36 PM PST

The Build American Bonds program, which provides federal subsidies for taxable bonds issued by state and local governments, is likely to survive another year, top Senate Republicans indicated.

Jury Rules SAP Owes Oracle $1.3 Billion

Posted: 23 Nov 2010 06:03 PM PST

A federal jury ruled SAP owes $1.3 billion to Oracle for copyright infringement.

Mayor's Pick Raises 'Serious Concerns' for Education Chief

Posted: 23 Nov 2010 04:07 PM PST

The state education commissioner would be more open to granting a waiver if it includes a plan to pair Cathie Black with a strong deputy.

Home Sales Fall 2.2%

Posted: 23 Nov 2010 03:34 PM PST

Sales of previously owned homes fell 2.2% in October amid weak demand and concerns about the foreclosure process.

Court Reverses Airgas Ruling

Posted: 23 Nov 2010 02:08 PM PST

A Delaware Supreme Court ruling damped investors' hopes for a speedy merger between industrial-gas companies Air Products and Airgas.

Treasury: TARP Money Returned to Taxpayers Exceeds $250 Billion

Posted: 23 Nov 2010 01:03 PM PST

Treasury updated its projections for the cost of the 2008 Troubled Asset Relief Program, saying that for the first time the amount of funds that has been returned to taxpayers exceeds $250 billion.

Fed Trims Outlook on Growth, Jobs

Posted: 23 Nov 2010 08:00 PM PST

Fed officials downgraded their assessment of the economy at a November meeting as they debated the benefits and costs of bond purchases, minutes showed.

Fears of Domino Effect Pervade Europe

Posted: 23 Nov 2010 08:04 PM PST

Spanish and Portuguese bond prices fell sharply, and the euro slid below $1.34 for the first time in two months.

More Firms Pulled Into Insider Probe

Posted: 23 Nov 2010 03:10 PM PST

SAC Capital, Janus Capital Group and Wellington Management have received inquiries in the ongoing insider-trading investigation on Wall Street.

Chrysler, GM Plan Factory Investments

Posted: 23 Nov 2010 04:09 PM PST

Chrysler said it would invest an additional $843 million at its transmission manufacturing facilities in Kokomo, Ind., while General Motors plans to put money into its Flint, Mich., engine factory.

Key Bond Market Gets Rating Relief

Posted: 23 Nov 2010 06:54 PM PST

The SEC indefinitely extended a waiver allowing asset-backed bond sales to go through without the use of credit ratings in bond offering documents.

Penguin Plans Arabic-Books Venture

Posted: 23 Nov 2010 04:52 PM PST

Pearson plans a venture with an Egypt-based publisher to bring its Penguin Classics to Arabic-speaking countries, the latest in a string of deals that has seen Penguin expand its classic-literature brand to foreign-language markets including Brazil, Korea and China.

Adobe Chases Growth in Asia

Posted: 23 Nov 2010 01:11 PM PST

Adobe Systems' president and chief executive says he is confident about the company's push into mobile media production software and says Adobe has moved on from its conflict with Apple.