"Wallstreet" Reader

"Wallstreet" Reader

AIG Unit Improves Disclosures on Backstops

Posted: 30 Dec 2010 05:21 PM PST

Chartis, the property-and-casualty insurance unit of AIG, said it has taken steps to improve disclosures about guarantees its subsidiaries provided to other AIG units, after a state regulator found "deficiencies" in its reporting.

Drug Approvals Slipped in 2010

Posted: 30 Dec 2010 03:48 PM PST

The FDA approved about 21 drugs in 2010, a relatively modest figure that shows the pharmaceutical industry hasn't yet escaped its drought in recent years.

Insider-Trading Defendant Fails to Post Bail

Posted: 30 Dec 2010 05:17 PM PST

Winifred Jiau, accused in the "expert network" insider case of providing confidential information on publicly traded companies to hedge funds, was ordered jailed until Monday after failing to meeting conditions for bail.

For Apps, Profit Focus Is Blurry

Posted: 30 Dec 2010 04:52 PM PST

Companies have launched a slew of photography apps for the iPhone and other smartphones, but many of these start-ups are still trying to figure out the best way to profit from their software programs.

Dead Soul Is a Debt Collector

Posted: 30 Dec 2010 06:57 PM PST

Martha Kunkle died in 1995. But that didn't stop her signature from appearing on thousands of affidavits submitted by one of the nation's largest debt collectors, Portfolio Recovery Associates.

Craig McCaw to Resign as Clearwire Chairman

Posted: 30 Dec 2010 05:08 PM PST

Craig McCaw is resigning as chairman of Clearwire, the company he founded to roll out the first nationwide U.S. wireless broadband network.

Treasury Converts $5.5 Billion of Ally Preferred Stock

Posted: 30 Dec 2010 03:03 PM PST

The Treasury Department is converting $5.5 billion of its preferred stock in auto-finance company Ally Financial into common stock so that the federal government is in a better position to exit the investment.

States Try to Force Mortgage Workouts

Posted: 30 Dec 2010 04:48 PM PST

A few states are forcing banks to sit down with borrowers facing foreclosure and attempt to hammer out a settlement face to face rather than going to court.

Fiat Split Creates New Options

Posted: 30 Dec 2010 06:20 PM PST

When Fiat spins off its truck and tractor divisions into a separate company on Jan. 1, the rump of the company with its cars and vans will be the riskier bet for investors but could offer greater potential to grow in value.

Wilderness Policy Stirs Anger

Posted: 30 Dec 2010 04:11 PM PST

An initiative to preserve more public lands as wilderness is stirring anger in the West, where ranchers, sportsmen and energy companies fear they will lose access to acreage they count on for their recreation and livelihood.

Borders Delays Payments

Posted: 30 Dec 2010 05:09 PM PST

Book retailer Borders Group said it is delaying payments to some publishers, a sign that its financial troubles are worsening. The company said the delays were part of its efforts to refinance its debt.

A Maverick Mutual-Fund Firm Is No. 1

Posted: 30 Dec 2010 04:30 PM PST

A mutual-fund company from Toronto that started offering funds to U.S. investors last year has promptly won the crown for having the best-performing stock fund and best fund of any kind for 2010.

Retailers Swipe at Credit-Card Plan

Posted: 30 Dec 2010 06:11 PM PST

The companies are urging the Fed to drop a proposal that would require credit-card issuers to consider only a borrower's "independent" income rather than household income.

Groupon Raises $500 Million

Posted: 30 Dec 2010 05:21 PM PST

Closely held Groupon has raised $500 million of a nearly $1 billion round of new funding, according to a regulatory filing.

FDIC Requires Banks to Make Changes in Quarterly Reports

Posted: 30 Dec 2010 12:11 PM PST

U.S. banks submitting quarterly reports on their financial conditions in January must make several changes due to new regulations.

Bud Drops Baseball Suit

Posted: 30 Dec 2010 12:03 PM PST

Anheuser-Busch reached a new sponsorship agreement with Major League Baseball and dropped a suit it filed against the league in November.

3M Sued Over Water Pollution Claim

Posted: 30 Dec 2010 12:05 PM PST

Minnesota Attorney General Lori Swanson on Thursday sued 3M Co., claiming a chemical it used to make various products caused damage to ground and surface water, the St. Paul Pioneer Press reported on its website.

Developing Countries Keep Buying Dollars

Posted: 30 Dec 2010 03:55 PM PST

Central banks in developing countries increased their purchases of U.S. dollars and pared their euro holdings in the third quarter.

B&N Calls Nook Its Best Seller

Posted: 30 Dec 2010 09:26 AM PST

Barnes & Noble said its line of Nook e-readers has become the best-selling product in the company's nearly 40-year history.

Portugal Confident on Debt

Posted: 30 Dec 2010 09:04 AM PST

Portugal has the means to resolve its financing problems through ambitious targets to cut public debt and to put public finances under control, the country's Minister of the Presidency Pedro Silva Pereira said.