"Wallstreet" Reader

"Wallstreet" Reader

Apollo Swoops In on Bank's Fire Sale

Posted: 23 Dec 2010 07:38 PM PST

Credit Suisse is selling a $2.8 billion portfolio of soured commercial-property loans to Apollo Management for $1.2 billion, marking one of the largest bank sales of distressed real-estate loans since the downturn.

Pensions Push Property Taxes Higher

Posted: 23 Dec 2010 07:01 PM PST

Cities across the U.S. are raising property taxes, largely citing rising pension and health-care costs for their workers and retirees.

Credit-Union Watchdog Draws Fire

Posted: 23 Dec 2010 06:59 PM PST

Some financial institutions have been criticized as excessively big spenders since the recession hit. Now credit unions are accusing their top regulator of the same sin.

Job Offers Rise as Economy Warms Up

Posted: 23 Dec 2010 07:26 PM PST

Some big U.S. companies are cranking up recruiting, advertising thousands of openings in a sign of an improving economy. Internet job postings surged to 4.7 million from 2.7 million a year ago.

Gift Shoppers Flocked to the Web

Posted: 23 Dec 2010 07:57 PM PST

Web retailers rang up a very merry Christmas this year, with Americans going online to buy electronics, jewelry and even clothing in record amounts this season, according to several new reports.

Payday Lenders Go Hunting

Posted: 23 Dec 2010 07:50 PM PST

Payday lenders are pushing hard to lure away customers from traditional banks, and the effort is getting a boost from the industry's loan crunch, especially for borrowers with blemished credit.

Many Obama Judicial Picks Aren't Confirmed

Posted: 23 Dec 2010 04:26 PM PST

The Senate failed to vote on 19 federal judicial nominees in the 111th Congress, with GOP objections holding up several of Obama's notable picks.

Boeing Resumes 787 Flight Testing

Posted: 23 Dec 2010 06:59 PM PST

Boeing resumed airborne testing of its 787 Dreamliner, more than six weeks after an electrical fire and power failure forced it to suspend flight testing. The company didn't provide an updated timetable for the plane's first delivery.

Plea by Cooperating Witness in Trading Probe Unsealed

Posted: 23 Dec 2010 05:21 PM PST

An investment consultant pleaded guilty this month to obtaining and distributing inside information involving Marvell Technology Group and other public companies.

Oil Futures Top $91

Posted: 23 Dec 2010 12:34 PM PST

Crude futures hit fresh two-year highs, heading above $91 a barrel after several pieces of economic data offered an encouraging outlook on the U.S. economy.

WikiLeaks Sharply Raised Spending

Posted: 23 Dec 2010 04:06 PM PST

New data from the foundation that processes WikiLeaks' bills show that the document-leaking website has sharply increased its spending as it pays salaries and as it faces potential legal issues.

Deal Revives New Jersey's Xanadu

Posted: 23 Dec 2010 06:20 PM PST

Lenders with the ailing Xanadu retail project in northern New Jersey have reached a deal with Triple Five, owner of Mall of America, to restart the stalled development.

Court to Hear Kraft-Starbucks Complaint

Posted: 23 Dec 2010 12:36 PM PST

Kraft Foods said a federal court in New York agreed to hear its request for a preliminary injunction against Starbucks' effort to break off a coffee-distribution contract.

Nortel Moves to Retrieve Retirement Savings

Posted: 23 Dec 2010 11:43 AM PST

Nortel Networks Corp. moved Wednesday to seize $37.9 million in retirement savings socked away over 10 years by some of its top U.S. executives.

Fitch Cuts Its Portugal Rating

Posted: 23 Dec 2010 11:09 AM PST

Fitch Ratings cut its rating on Portugal, citing concerns about a "deteriorating near-term economic outlook" and a "much more difficult financing environment" for the European nation's government and banks.

Seidman Named Chairman of FASB

Posted: 23 Dec 2010 06:30 PM PST

Leslie Seidman was named chairman of the panel that sets U.S. accounting standards, as FASB gears up for a busy 2011 that could dramatically alter how U.S. companies report their financial results.

Blu-ray's Time Comes as DVDs Fade

Posted: 23 Dec 2010 07:19 PM PST

Blu-ray is emerging as a holiday hero for Hollywood as the film industry grapples with the rise of digital video and a persistent slump in DVD sales.

Truck Drivers May Face 10-Hour Daily Limit

Posted: 23 Dec 2010 10:13 AM PST

The Obama administration backed new rules that would further restrict the amount of time commercial truck drivers can spend behind the wheel, though it stopped short of proposing a new daily driving limit.

Constellation to Sell Australian Business

Posted: 23 Dec 2010 03:25 PM PST

Wine giant Constellation Brands agreed to sell a controlling stake in its struggling Australian and U.K. operations in a deal valuing the business at $290 million.

Swiss Franc Recoups Some Losses

Posted: 23 Dec 2010 12:20 PM PST

The Swiss franc recouped some of its sudden losses against the euro and the dollar in early afternoon trading.