"Wallstreet" Reader

"Wallstreet" Reader

Unions Want Limits on Use of Contractors

Posted: 07 Dec 2010 08:19 PM PST

Unions are campaigning to get the Obama administration to crack down on companies that treat workers as independent contractors instead of employees.

New Players, Ties in Trading Probe

Posted: 07 Dec 2010 07:19 PM PST

Federal authorities have failed in two attempts to enlist the help of individuals to gather evidence against Steven Cohen's SAC Capital Advisors LP as part of a wide insider-trading investigation.

Omnicare to Name McKesson Executive Figueroa as CEO

Posted: 07 Dec 2010 07:01 PM PST

Omnicare chose John Figueroa as its next CEO in hopes fresh leadership will help fix financial performance at the health-care concern.

Inflation Dilemma Looms for Brazil's Rousseff

Posted: 07 Dec 2010 06:20 PM PST

As Brazil's President-elect Dilma Rousseff prepares to take office, prices of food, rent and basic services are rising faster than forecast. Inflation is on course to approach 6% this year.

Asia Mixed; Report Shakes Seoul

Posted: 07 Dec 2010 08:30 PM PST

Asian stock markets were mixed Wednesday, with exporters pushing the Nikkei up 0.7%. Korea's Kopsi saw early gains erased as worries over a report about North Korea rattled investors, leaving the market flat.

Fortune Brands Plans to Split Up

Posted: 07 Dec 2010 08:12 PM PST

Fortune Brands, the maker of Jim Beam bourbon and Moen faucets, plans to split into as many as three separate businesses.

Fannie, Freddie Pressed on Mortgages

Posted: 07 Dec 2010 06:58 PM PST

Fannie Mae and Freddie Mac are in talks with Obama administration officials to join programs aimed at reducing loan balances of mortgages where borrowers owe more than their homes are worth.

Simon's Expansion Plans Dealt Another Blow

Posted: 07 Dec 2010 05:20 PM PST

U.S. shopping-mall mogul David Simon is likely to abandon his pursuit of U.K. retail landlord Capital Shopping Centres Group, just seven months after losing his bid to take over U.S. rival General Growth Properties.

Tax-Cut Deal Results in Turmoil for Bonds

Posted: 07 Dec 2010 07:15 PM PST

The tax deal in Washington led investors to dump government bonds on Tuesday, with yields on Treasurys hitting their highest level in six months and municipal bonds.

Ireland Unveils Sweeping Budget Cuts

Posted: 07 Dec 2010 03:56 PM PST

Irish Finance Minister Brian Lenihan unveiled the toughest budget in the country's history that will see €6 billion in spending cuts and tax increases carve a swathe across all parts of society.

Cold Blast Strains Farmers

Posted: 07 Dec 2010 06:28 PM PST

An unusually early blast of cold air is cloaking the southeast, forcing farmers to toil through the night to save their livestock and crops of strawberries, tender green beans and sweet corn.

Delta's Reservation, Gate Agents Reject Unionization

Posted: 07 Dec 2010 04:43 PM PST

Delta Air Lines' gate and reservation agents rejected a unionization push, the third such "no" vote in the final leg of a historic and fractious organizing drive at the world's second-largest airline.

Investors Pile Into Commodities

Posted: 07 Dec 2010 04:21 PM PST

Investors are holding their biggest commodities positions on record as prices surge and debate intensifies among U.S. regulators about whether to limit the amount that any one trader can bet.

Support For South Korea Trade Pact Grows In U.S. Senate

Posted: 07 Dec 2010 04:11 PM PST

Support is building in the U.S. Senate for the reworked free trade pact with South Korea.

Smokeless-Tobacco Settlement

Posted: 07 Dec 2010 05:35 PM PST

Smokeless-tobacco maker UST, now owned by Altria Group, agreed to pay $5 million to the family of a man who died of mouth cancer. The settlement was reached before last year's acquisition.

Simon Likely to Abandon Pursuit of CSC

Posted: 07 Dec 2010 04:07 PM PST

U.S. shopping-mall king David Simon is likely to abandon his pursuit of U.K. retail landlord Capital Shopping Centres just seven months after losing his bid to take over U.S. rival General Growth Properties.

India to Open Retail Sector

Posted: 07 Dec 2010 04:29 PM PST

India is likely to loosen foreign-investment restrictions in its retail sector in coming months, offering U.S. and European companies a route into India's $444 billion retail sector.

Citi Regains Some Market Mojo

Posted: 07 Dec 2010 04:27 PM PST

Citigroup shares gained 3.8% after the U.S. sold the last of its stake in the bank, lifting the cloud of government ownership that had been hanging over the company and its stock price.

Elizabeth Edwards Dies of Cancer at 61

Posted: 07 Dec 2010 04:55 PM PST

Elizabeth Edwards, the estranged wife of former presidential candidate John Edwards, died after a six-year fight with cancer. She was 61.

BP Weighs Asset Sales

Posted: 07 Dec 2010 04:31 PM PST

BP is considering the sale of North Sea assets valued at $1 billion, as energy company seeks funds to pay for the Gulf of Mexico oil spill.