"Wallstreet" Reader

"Wallstreet" Reader

Australian Sales Data Cool Rate-Rise Talk

Posted: 01 Dec 2010 06:00 PM PST

Australian retail sales fell sharply in October, fueling a growing message of weakness in the economy and ruling out any interest rate increases until mid-2011 at the earliest.

Asia Heads Higher on U.S.

Posted: 01 Dec 2010 06:06 PM PST

Asian stocks gain on Wall Street's surge, with miners leading Sydney stocks up and exporters supporting Japan's 1.7% gain.

Spain, Italy Seek Action

Posted: 01 Dec 2010 07:18 PM PST

Spain and Italy are leading an effort to spur more decisive action from the ECB in order to prevent the crisis from spreading further.

Tax Cuts Likely to Be Extended Temporarily

Posted: 01 Dec 2010 04:53 PM PST

Congressional aides from both parties have begun discussing a temporary extension of tax cuts enacted under former President George W. Bush.

Merck to Buy Biotech Company SmartCells

Posted: 01 Dec 2010 05:16 PM PST

Merck is expected to announce a deal to buy a closely held biotechnology company in the early stages of developing a new diabetes treatment.

Credit Squeeze May Add to Bankruptcies

Posted: 01 Dec 2010 05:31 PM PST

Credit markets are likely to get tougher for midsize companies and those with the weakest credit ratings, which could lead to a new wave of bankruptcy filings.

South Korea Revised GDP Rises 0.7%

Posted: 01 Dec 2010 04:20 PM PST

South Korea's economic growth in the third quarter slowed from the pace in the second quarter, according to revised data, adding weight to the view that any monetary-policy tightening in the coming months will be limited.

Retailers Fight to Escape 'Conflict Minerals' Law

Posted: 01 Dec 2010 04:24 PM PST

Top U.S. retailers including Wal-Mart and Target are battling to limit a new law that could force them to report whether their store-brand goods contain minerals from war-torn central Africa.

Single Trader Holds Bulk of LME Copper

Posted: 01 Dec 2010 04:20 PM PST

The trader, whom the exchange hasn't identified, owns between 50% and 80% of the 355,750 metric tons held in LME-listed warehouses.

Foreign Firms Got the Fed's Cash

Posted: 01 Dec 2010 07:32 PM PST

The Federal Reserve disclosed the extent to which it supported foreign banks and U.S.-based investment banks Goldman Sachs and Morgan Stanley in the worst days of 2008, and the breadth of its lending to other firms.

Hulu Open to New Investors for Global Expansion

Posted: 01 Dec 2010 08:16 PM PST

Hulu wants to expand its online video service internationally and would be willing to take on new investors to do so, its CEO said.

Portugal Under Fire as Fears Rise

Posted: 01 Dec 2010 12:29 PM PST

Portugal is facing increased pressure to seek financial help as the country's borrowing costs continue to climb.

Exit Interview Focus of Ex-Programmer's Trial

Posted: 01 Dec 2010 01:56 PM PST

Prosecutors tried to show that Sergey Aleynikov had his heart set on taking on greater responsibilities in his next job and that he would use what he learned at Goldman.

RIM Sues App Maker Kik Over Patents

Posted: 01 Dec 2010 12:20 PM PST

BlackBerry maker Research In Motion has sued Kik Interactive, a start-up with a cross-device messaging service, for patent infringement and misuse of trademarks.

Verizon to Sell 4G Plan for Less Than 3G

Posted: 01 Dec 2010 05:08 PM PST

Verizon Wireless said it plans to offer a wireless data plan for its new 4G network that is less than it charges for some 3G plans.

Bond Markets Raise Stakes for ECB Meeting

Posted: 01 Dec 2010 10:10 AM PST

European bond investors are raising expectations that the ECB will use its monthly meeting to prop up government bond markets of its beleaguered periphery by ramping up purchases of government debt.

Fed Data Show Firms on the Brink

Posted: 01 Dec 2010 12:46 PM PST

The U.S. central bank disclosed details of some $3.3 trillion in loans made to financial firms, companies and foreign central banks during the financial crisis.

Irish Banks Swiped Over Pay Practices

Posted: 01 Dec 2010 12:33 PM PST

The Central Bank of Ireland warned Irish bank chief executives they faced severe penalties for not improving remuneration and bonus-related policies that encourage inappropriate risk-taking.

U.S. Won't Allow Drilling in Eastern Gulf

Posted: 01 Dec 2010 09:04 AM PST

The White House's next five-year plan won't allow offshore oil drilling in the eastern Gulf of Mexico or off the Atlantic coast. Obama had said in March that the areas would be open for exploration.

CFTC Gets Definitive on Swaps

Posted: 01 Dec 2010 04:12 PM PST

Regulators proposed rules that sought to provide clarity on which companies will be subject to new derivatives regulations. But some felt the rules weren't clear enough.