"Wallstreet" Reader

"Wallstreet" Reader

Chrysler Financial Bidding Begins

Posted: 06 Dec 2010 07:17 PM PST

Two banking giants are in negotiations to purchase Chrysler Financial, the auto lender owned by Cerberus Capital Management, according a person close to the matter.

ADB Raises Growth Forecast

Posted: 06 Dec 2010 07:40 PM PST

Asian economic growth may slow next year but will still be robust, the Asian Development Bank said, as it called for greater regional cooperation on foreign exchange policies.

New Silver Coins in Demand

Posted: 06 Dec 2010 07:18 PM PST

The U.S. Mint was set to begin releasing the 2010 "America the Beautiful" five-ounce silver bullion coins, an eagerly anticipated event in the collecting community.

New Player in D.C. Schools

Posted: 06 Dec 2010 06:04 PM PST

The election of a tough-talking new teachers' union head in Washington could complicate efforts to turn around the capital's struggling school system.

Asia Mixed; Japan Exporters Down

Posted: 06 Dec 2010 06:37 PM PST

Asian stocks were mixed with exporters in Japan falling on the yen's strength. The Nikkei fell 0.4%.

Firms Hurting as Europe Slumps

Posted: 06 Dec 2010 05:03 PM PST

Multinational companies in a range of industries are seeing slowdowns in Europe and bracing for what could be many months of weakness.

Another Duke Executive Resigns

Posted: 06 Dec 2010 04:48 PM PST

Duke Energy's second-highest-paid executive, James Turner, resigned in a widening ethics investigation that already has toppled an Indiana regulator and two other Duke executives.

J. Crew Board Lacked Details Ahead of Bid

Posted: 06 Dec 2010 07:20 PM PST

J. Crew's CEO Mickey Drexler was negotiating a potential sale of the clothing company for nearly seven weeks before he informed the company's board of his talks, according to the latest company securities filings.

CEO's Job Stress Worried Pfizer

Posted: 06 Dec 2010 05:39 PM PST

Pfizer's board was looking for a lieutenant to alleviate some of its CEO's stress and workload before Jeffrey Kindler suddenly decided to retire.

Big Bank Sits on Big Pile of Copper

Posted: 06 Dec 2010 05:49 PM PST

J.P. Morgan has emerged as the mystery buyer of more than $1 billion of copper, accounting for more than 50% of all the metal stored in official London warehouses.

China's Bright Food Nears Purchase of GNC

Posted: 06 Dec 2010 03:35 PM PST

China's Bright Food Group is close to a deal to buy U.S. vitamin retail chain GNC Holdings for between $2.5 billion to $3 billion, people familiar with the matter said, the latest sign of growing Chinese appetite for U.S. companies.

Argentina Offers Brady Debt Swap

Posted: 06 Dec 2010 03:22 PM PST

Offer applies to holders of about $340 million in defaulted Brady Bonds.

U.S. Unloads Citi Stake for a $12 Billion Profit

Posted: 06 Dec 2010 07:55 PM PST

The U.S. Treasury sold the last of its Citigroup common shares in a $10.5 billion offering that capped the government's biggest bank bailout and netted taxpayers a $12 billion profit.

Madoff Trustee Settles With Swiss Bank

Posted: 06 Dec 2010 04:38 PM PST

The Madoff trustee reached a settlement of about $500 million with a Swiss bank, in what would be the largest recovery from a so-called feeder fund in the fraud to date.

Time Inc. to Reorganize Sales and Marketing

Posted: 06 Dec 2010 05:59 PM PST

Time Inc. is reorganizing its corporate sales and marketing operations to make it easier for marketers to buy ads across magazines while lessening its dependence on the battered ad market.

Derivatives-Trading Tally: $700 Trillion (or So)

Posted: 06 Dec 2010 08:25 AM PST

The global market for transferring risk, whether through over-the-counter swaps or exchange-traded futures and options, could represent a $700 trillion industry year's end, with an annual turnover of $3.7 quadrillion, a study said.

Water Turns to Wine

Posted: 06 Dec 2010 12:56 PM PST

Fiji Water, the premium imported bottled water company owned by billionaire Stewart Resnick, acquired Justin Vineyards & Winery in Paso Robles, Calif.

Google to Release New 'Nexus' Phone

Posted: 06 Dec 2010 05:53 PM PST

Google said it is launching a smartphone, developed with Samsung, along with a new version of the Android software for mobile devices. Google won't directly sell the Nexus S to consumers.

L'Oreal Family Dispute Resolved

Posted: 06 Dec 2010 04:18 PM PST

L'Oréal SA heiress Liliane Bettencourt and her daughter said Monday they have resolved their differences, ending a series of lawsuits that could have jeopardized French control of the cosmetics giant,

Obama, GOP Reach Deal on Taxes

Posted: 06 Dec 2010 07:42 PM PST

Obama reached agreement with Republican leaders in Congress on a broad tax package that would extend the Bush-era income tax cuts for two years, reduce worker payroll taxes for one year and give more favorable treatment to business investments.