"Wallstreet" Reader

"Wallstreet" Reader

Asian Shares Down; Bank Stocks Drag Tokyo Lower

Posted: 19 Jan 2011 07:34 PM PST

Asian stock markets were down Thursday, with losses in banking stocks hurting the Tokyo market after disappointing earnings from big U.S. banks, including Goldman Sachs. Japan's Nikkei Stock Average was off 0.8%.

SEC Probes Company Over Life-Span Data

Posted: 19 Jan 2011 07:31 PM PST

The SEC is investigating Life Partners Holdings, a Texas company that has arranged for investors to buy several billion dollars of life-insurance policies from their original owners.

H-P Proposes Investigation Into Hurd's Exit

Posted: 19 Jan 2011 06:08 PM PST

H-P is prepared to investigate the circumstances surrounding the resignation of former CEO Mark Hurd and the board's decision to award him a generous exit package.

Top Album, Low Sales

Posted: 19 Jan 2011 04:03 PM PST

Billboard's top-selling album this week got there with sales of just 44,000 units, a low-water mark for the music industry.

Spain to Ramp Up Bailout of Banks

Posted: 19 Jan 2011 06:10 PM PST

Spain plans to pour billions more euros into its troubled savings banks and force them to be more open about their lending practices, an acknowledgment that previous efforts to fix the banks have fallen flat.

GM Again Shuffles Top Ranks

Posted: 19 Jan 2011 04:42 PM PST

General Motors is replacing its head of product development, a move aimed at shoring up what Chief Executive Dan Akerson has identified as a key trouble spot.

As Food Prices Soar, Eateries Scramble

Posted: 19 Jan 2011 04:01 PM PST

Soaring global food prices, particularly for meat, sugar and coffee, are putting pressure on the restaurant, travel and hotel sectors.

BHP's Coal Production in Australia Falls

Posted: 19 Jan 2011 04:14 PM PST

Coking coal production by Anglo-Australian miner BHP Billiton's Queensland operations fell 30% in the last quarter from the prior period as the region's flooding hit output.

New Rules Put Pinch on Goldman's Profit

Posted: 19 Jan 2011 07:14 PM PST

Goldman Sachs's profit slide of 52% showed the securities giant couldn't escape the squeeze of a regulatory overhaul and jittery clients.

At AIG, Focus Returns to Selling Insurance

Posted: 19 Jan 2011 08:33 PM PST

Jay Wintrob says the end of American International Group's reliance on U.S. aid is putting his SunAmerica Financial unit's business back in the game.

President's Ratings Climb

Posted: 19 Jan 2011 05:12 PM PST

President Barack Obama is riding a wave of public support into next week's State of the Union address, with more Americans approving of his performance and more seeing him as a political moderate, according to a new Wall Street Journal/NBC News poll.

House Votes to Repeal Health-Care Law

Posted: 19 Jan 2011 05:13 PM PST

The Republican-led House voted to repeal the health-care overhaul that is a signature achievement of President Obama, in a largely symbolic move that made good on a GOP election promise but left uncertain what the party would offer as an alternative.

Justices Hear AT&T Privacy Case

Posted: 19 Jan 2011 08:21 PM PST

The Supreme Court seemed reluctant to extend personal-privacy rights to corporations during arguments in an AT&T case at which several justices said neither federal law nor common sense supported such a result.

Commercial and Trust Banks Diverge

Posted: 19 Jan 2011 07:20 PM PST

Commercial banks like Wells Fargo and U.S. Bancorp are enjoying the fruits of their lending business, as low rates have pumped up demand for mortgages. Trust banks like State Street and Northern Trust don't have that advantage.

U.S. Eases on Work Noise, Medical Devices

Posted: 19 Jan 2011 04:05 PM PST

The Labor Department said it was withdrawing a proposal on noise in the workplace, and the FDA retreated from plans to tighten rules on medical-device approvals.

EBay's Growth Trails Online Shopping

Posted: 19 Jan 2011 04:30 PM PST

EBay reported a 5% rise in revenue amid a surge in its PayPal payments unit but its core marketplace business remained sluggish.

Insurers' Profits Seen Rising

Posted: 19 Jan 2011 03:46 PM PST

Health insurers' fourth-quarter reports will provide an early glimpse into how much wind the health overhaul could take out of plans' profits—and Wall Street estimates don't look all that bad for the industry.

Another Renault Manager Files Suit

Posted: 19 Jan 2011 04:22 PM PST

Lawyers for one of three senior managers fired by Renault filed a complaint for slander, becoming the second employee to mount a legal challenge against the French auto maker.

Nokia Cancels U.S. Phone Launch

Posted: 19 Jan 2011 04:02 PM PST

Nokia has canceled the U.S. release of a smartphone that was slated to launch exclusively this year with AT&T, the latest setback in the U.S. for the cellphone giant.

Key Plotter Pleads Guilty in Galleon Case

Posted: 19 Jan 2011 07:51 PM PST

Danielle Chiesi, low on cash and unable to quash damning wiretaps, pleaded guilty to three counts of conspiracy to commit securities fraud in the Galleon insider-trading probe. She faces more than three years in prison.