"Wallstreet" Reader

"Wallstreet" Reader

Phone-Wielding Shoppers Strike Fear Into Retailers

Posted: 15 Dec 2010 07:41 PM PST

Retailers used to think they had customers in the bag, coaxing them inside stores by enticing them with specials. Now, thanks to mobile shopping programs, competitors can match or beat a store's prices—even as customers are standing in its aisles.

Bob Feller Dies at 92

Posted: 15 Dec 2010 07:36 PM PST

Hall of Famer Bob Feller, the winningest pitcher in Cleveland Indians history and one of baseball's greatest right-handers, died on Wednesday night of acute leukemia.

Asia Slips on Europe Concerns

Posted: 15 Dec 2010 06:28 PM PST

Asian stocks fell on concerns over euro-zone sovereign debt. Virgin Blue and Air New Zealand rose as a proposed alliance was approved. The Nikkei slipped 0.1%.

Obama Pushes CEOs on Job Creation

Posted: 15 Dec 2010 07:44 PM PST

President Barack Obama pressed 20 corporate chief executives to suggest policies that would spur them to "start investing in job creating enterprises."

U.S. Puts Off Afghan Moves

Posted: 15 Dec 2010 07:56 PM PST

A much-anticipated White House review of progress in the Afghan war will put off key decisions about the pace of pulling troops out of the country and whether changes in strategy there will be needed.

Investors' Doubts Buffet Spain

Posted: 15 Dec 2010 07:11 PM PST

Spain faces a key test of investor confidence in its economic survival plan as it seeks to raise money from bond markets a day after ratings firm Moody's rekindled worries about the country's ability to service its debts.

Start-Up Scoops Up Unsold Tickets

Posted: 15 Dec 2010 05:05 PM PST

A start-up with several high-profile backers is planning to unveil a system it says will help sell some of the millions of concert and sports tickets that go unsold every year.

Traders on Run for the Money

Posted: 15 Dec 2010 04:51 PM PST

In a flashback to the late 1990s, online-trading firms catering to small investors are lining up to go public.

'Vultures' Give U.S. Good Mark

Posted: 15 Dec 2010 04:18 PM PST

Distressed-debt specialists give the U.S. a "B" for its handling of its $388 billion investment in a portfolio of struggling U.S. companies during the financial crisis.

Justice Department Sues BP

Posted: 15 Dec 2010 01:33 PM PST

The Justice Department sued a BP unit and several other companies Wednesday over the Gulf of Mexico oil spill.

Poll Supports Shift to Center

Posted: 15 Dec 2010 07:37 PM PST

Obama has public opinion and the Democratic grass roots with him as he searches for common ground with Republicans in the wake of his party's historic defeats in midterm elections, a new WSJ/NBC News poll finds.

START Gets 66 Votes to Begin Senate Debate

Posted: 15 Dec 2010 02:07 PM PST

President Barack Obama's New Strategic Arms Reduction Treaty with Russia snagged 66 votes on a procedural motion to bring it formally to a Senate debate, just one short of the number needed for passage.

BofA in Mortgage Setttlement Talks

Posted: 15 Dec 2010 04:08 PM PST

Bank of America, after vowing to fight requests that it repurchase certain loans, has begun potential settlement discussions with some of its largest mortgage investors, according to people familiar with the situation.

START Passage Looks Dead for 2010

Posted: 15 Dec 2010 12:06 PM PST

In what looks like a decisive blow, at least eight Republican senators – including some the White House was counting on – will announce this afternoon they cannot vote to ratify President Barack Obama's New Strategic Arms Reduction Treaty with Russia this year.

BP to Sell Canadian Unit

Posted: 15 Dec 2010 03:58 PM PST

BP has put its Canadian natural gas liquids business up for sale, part of efforts to raise up to $30 billion to help pay costs associated with the Gulf of Mexico oil spill.

Tax Deal Steams Closer to Approval

Posted: 15 Dec 2010 07:32 PM PST

Congress moved toward final approval of Obama's tax plan, as the Senate approved it by a wide bipartisan margin and House leaders worked to keep liberal critics from derailing its passage.

Dannon Settles Ad Complaints

Posted: 15 Dec 2010 06:59 PM PST

Dannon agreed to pay $21 million to settle state and federal probes into allegations that the company's claims for the health benefits of foods containing probiotics were exaggerated, or not properly supported.

Lehman Ends Part of Derivatives Suit

Posted: 15 Dec 2010 10:15 AM PST

A U.S. bankruptcy judge approved a settlement between Lehman Brothers and two parties, including Bank of New York Mellon, over derivatives deals that had divided courts on both sides of the Atlantic.

Vietnam Battles Dark Side of Boom

Posted: 15 Dec 2010 08:20 AM PST

Up-and-coming Vietnam is grappling with the downward spiral of its currency, the dong. Moody's signaled the extent of the problems, downgrading its rating on Vietnamese government debt.

Inflation Still Muted; Factory Output Grows

Posted: 15 Dec 2010 06:12 PM PST

Inflation remained extremely low in November, despite signs of a strengthening economic recovery, while industrial production saw its largest gain in four months.