"Wallstreet" Reader

"Wallstreet" Reader

Asian Shares Mixed; Weak GDP Hurts New Zealand

Posted: 22 Dec 2010 05:59 PM PST

Asian share markets Thursday were mixed in subdued, holiday-thinned trading, with shares in New Zealand weighed by news that the economy contracted in the third quarter. Japan was closed for Emperor's Day.

Norilsk Nears Deal to End Tycoons' Battle

Posted: 22 Dec 2010 05:16 PM PST

A bitter, multiyear struggle for control of Norilsk Nickel may be nearing a resolution as the arctic metals giant closes in on a deal to buy out one of its warring billionaire shareholders.

Obama: Operation Cooperation

Posted: 22 Dec 2010 06:03 PM PST

President Obama closed out the 111th Congress by projecting himself as a force for cooperation, winning late-session victories on some of his top foreign and domestic priorities.

Senate Ratifies Nuclear-Arms Pact

Posted: 22 Dec 2010 06:16 PM PST

The Senate voted 71-26 to ratify a new strategic arms treaty with Russia, a major foreign policy goal of the Obama administration, which views the pact as a key part of rebuilding relations with Moscow.

Health Bill for 9/11 Responders Is Approved

Posted: 22 Dec 2010 06:17 PM PST

Long-delayed legislation providing aid to sick Ground Zero workers sailed through Congress Wednesday in a few short hours, after Democrats scaled back the bill to overcome lingering Republican objections.

Hilton, Starwood Settle Corporate Spy Suit

Posted: 22 Dec 2010 07:38 PM PST

Hilton will be banned for two years from creating a luxury "lifestyle" hotel chain under an accord to settle a corporate-espionage lawsuit.

Chapter 9 Weighed in Pension Woes

Posted: 22 Dec 2010 05:10 PM PST

Though bankruptcy law remains murky on how far a city can go in scrapping deals for current retirees, workout efforts in several cities stand to reshape debate over how local governments deal with mounting public-pension problems.

Banks Pushed Together in Wave of Deals

Posted: 22 Dec 2010 04:49 PM PST

Hancock Holding will purchase Whitney Holding in a $1.5 billion all-stock deal that combines two Gulf Coast banks that have risen and fallen with the fate of the region for more than 100 years.

Jet-Leasing Firms Go on Buying Spree

Posted: 22 Dec 2010 07:29 PM PST

Airbus and Boeing are on track for a sales rebound this year, fueled in part by resurgent airplane-leasing companies. The 27% of orders placed by lessors with the manufacturers is the highest proportion since 2000.

Role of Auditors in Crisis Gets Look

Posted: 22 Dec 2010 07:33 PM PST

The case against Ernst & Young highlights the roles accounting firms played in the financial crisis and raises questions about whether reforms enacted after the last crisis went far enough.

UAW to Target Foreign-Owned Car Plants in U.S.

Posted: 22 Dec 2010 05:51 PM PST

The head of the United Auto Workers said his union will begin a campaign in January to organize hourly factory workers at foreign-owned car plants in the U.S.

Comcast-NBCU Deal Is Delayed

Posted: 22 Dec 2010 05:37 PM PST

Comcast said the regulatory approval process for its deal for NBC Universal will continue into January, delaying the cable giant's plan to close the controversial transaction by year-end.

U.S. Targets China's Wind Subsidies

Posted: 22 Dec 2010 06:14 PM PST

The U.S. is requesting consultations with China at the World Trade Organization to end hundreds of millions of dollars in subsidies to boost wind-power production.

Retailers Tap Social Profiles for Gift Ideas

Posted: 22 Dec 2010 08:43 AM PST

Companies such as Amazon.com and Etsy are making gift recommendations for individuals by tapping into the trove of comments and preferences collected by Facebook.

Oil Back at $90 as Growth Gains Pace

Posted: 22 Dec 2010 07:28 PM PST

Rising demand for petroleum—notably from U.S. motorists and Chinese manufacturers—has helped push oil above $90 a barrel for the first time since the early days of the financial crisis.

Safety Sought in Swiss Franc

Posted: 22 Dec 2010 03:46 PM PST

The Swiss franc rose broadly, extending this week's rally against the euro as investors continued to seek safety from the euro zone sovereign-debt crisis.

Existing Home Sales Rise

Posted: 22 Dec 2010 10:11 AM PST

Existing-home sales rose 5.6% last month, less than expected, though prices stabilized as fewer houses remained on the market.

Economic Growth Exceeds Forecasts

Posted: 22 Dec 2010 03:44 PM PST

The economy grew slightly faster than the government previously estimated in the third quarter, and forecasters have been raising growth projections for the fourth quarter and for 2011.

U.S. Stocks at New 2-Year Highs

Posted: 22 Dec 2010 02:35 PM PST

Stocks closed at fresh two-year highs, led by financial companies as bank stocks continued to benefit from recent merger activity.

In China, Zuckerberg Meets Top Tech Executives

Posted: 22 Dec 2010 06:38 PM PST

Facebook's Mark Zuckerberg met some of China's top technology executives in Beijing this week, fueling speculation about the site's ambitions in China, where it is blocked by censors.