"Wallstreet" Reader

"Wallstreet" Reader

Wall Street Banks Win China Approvals

Posted: 06 Jan 2011 08:00 PM PST

J.P. Morgan Chase. and Morgan Stanley have won approval from China to underwrite deals in China's fast-growing securities market with local partners.

Obama Revs Up Effort to Make Peace With Business

Posted: 06 Jan 2011 07:51 PM PST

In the latest in a series of conciliatory moves, Obama appointed Bill Daley, a Chicago political operative turned financier, as his chief of staff, and brooked a simmering trade dispute with Mexico.

Asia Slips Before U.S. Payrolls

Posted: 06 Jan 2011 05:53 PM PST

Asia stocks fell on caution ahead of U.S. nonfarm payrolls data later. The Nikkei slipped 0.2%.

Bond Buyers' Eyes Are on Illinois

Posted: 06 Jan 2011 06:53 PM PST

As Illinois lawmakers huddle behind closed doors this week trying to find ways to plug the state's $13 billion deficit, municipal-bond investors are sizing up how to wager amid the state's woes.

In Europe, Angst Fills Sovereign Bond Gap

Posted: 06 Jan 2011 07:41 PM PST

The cost of insuring some European government debt against default hit a record after regulators issued a proposal on bank bailouts that would hurt bondholders.

Corporations Selling Bonds at Brisk Clip

Posted: 06 Jan 2011 04:10 PM PST

Corporations have sold more than $35 billion of investment-grade bonds so far this week, taking advantage of investors' appetite for higher returns as Treasury yields remain low.

The Touch, the Feel---Of Rayon?

Posted: 06 Jan 2011 07:32 PM PST

Rising cotton prices are pushing a forgotten retro staple back onto the fashion runway: Rayon, an 80-year-old fabric whose last golden age was in the 1980s.

NFL, ESPN Push Toward Monday Night Pact

Posted: 06 Jan 2011 04:15 PM PST

The NFL and ESPN are pushing toward an extension of their "Monday Night Football" broadcasting deal that includes a substantial fee increase.

FDA Defends Decision on Avastin

Posted: 06 Jan 2011 03:44 PM PST

The government's top cancer-drug regulator defended the FDA's recent decision to undo its approval of the drug Avastin for breast cancer, saying the manufacturer, Genentech, was repeatedly warned that some key data were inadequate.

Borders Talks With Advisers

Posted: 06 Jan 2011 04:12 PM PST

Borders Group has been in discussions with restructuring advisers about ways to rework its debt-heavy balance sheet, said people familiar with the matter.

Facebook Sets Stage for IPO Next Year

Posted: 06 Jan 2011 07:28 PM PST

A Facebook document for potential investors gave the clearest signal yet that the firm is preparing to take itself public sometime next year.

Chesapeake Energy to Cut Outlays, Reduce Debt

Posted: 06 Jan 2011 01:36 PM PST

Chesapeake Energy said it plans to curtail spending and sell assets to cut long-term debt by 25% over the next two years, and reduced its projection of oil and natural-gas output gains over the same period.

Dell Shows New Tablet PC, Smartphone

Posted: 06 Jan 2011 03:41 PM PST

Dell is unveiling several new tablet-style computers and a smartphone, part of a strategy to attract more consumers and move beyond its corporate customer base.

Sara Lee Likely to Split Units

Posted: 06 Jan 2011 05:13 PM PST

Sara Lee is moving ahead with plans to split up its meats and coffee businesses into two separate companies after it rejected Brazilian beef processor JBS's takeover offer last month.

Packages Explode in Maryland State Buildings

Posted: 06 Jan 2011 12:04 PM PST

Authorities are investigating reports of two explosions in the mailrooms of Maryland government office buildings.

Apple Unveils Mac App Store

Posted: 06 Jan 2011 04:06 PM PST

Apple launched an app store for its Macintosh computer, seeking to extend the popularity of the store concept beyond its mobile devices.

Pentagon Faces the Budgetary Knife

Posted: 06 Jan 2011 07:43 PM PST

In an early salvo in Washington's battle over the deficit, the White House ordered the Pentagon to rein in its budget, a move that will force a sizable cut in overall troop numbers.

Monsanto Swings to Profit

Posted: 06 Jan 2011 03:49 PM PST

Monsanto reported a profit as its seeds and genomics business turned in strong sales growth, and it recovered from a sharp drop in sales of its Roundup and other herbicides.

Galleon Co-Founder Starts Firm

Posted: 06 Jan 2011 05:47 PM PST

Galleon Group co-founder Gary Rosenbach is launching Rockledge Capital with James Burritt, a managing director at Thomas H. Lee Capital, to invest in hedge funds and manage family investments.

Daley Résumé Blends Politics, Business

Posted: 06 Jan 2011 06:23 PM PST

William M. Daley, named Obama's new chief of staff, brings an extensive business background that will make him a rarity in an administration dominated by political strategists and policy wonks.