"Wallstreet" Reader

"Wallstreet" Reader

GM Product Chief's Job: New Cars Fast

Posted: 20 Jan 2011 04:59 PM PST

GM named a new global product head as part of a drive by Chief Executive Daniel Akerson to streamline the auto maker's lumbering engineering operations and bring vehicles to market more quickly.

Asia Slips on Commodities, China

Posted: 20 Jan 2011 07:54 PM PST

Asian stock markets were mostly lower with resource plays lower on commodity prices declines and concerns China may raise interest rates. The Nikkei fell 0.8%.

Iron-Ore Miners Raise Prices

Posted: 20 Jan 2011 06:37 PM PST

The world's biggest iron-ore miners are running at record production rates and boosting prices, maintaining the upward momentum begun in earnest in the second half of 2010.

Republicans Look Beyond Repeal Vote

Posted: 20 Jan 2011 06:02 PM PST

House Republicans began a push to pick apart the Democrats' sweeping health-care law, an undertaking carrying possible risks alongside political rewards.

Ghana Oil-Field Contractor Is Probed

Posted: 20 Jan 2011 04:45 PM PST

Kosmos Energy and its partners in Ghana's vast Jubilee offshore oil field are looking into "potential violations" of the U.S. Foreign Corrupt Practices Act by one of the project's contractors.

Verizon Appeals Net Regulations

Posted: 20 Jan 2011 04:13 PM PST

Verizon challenged the FCC's new rules on Internet lines Thursday, saying the government overstepped its authority when adopting the new rules.

Lenders See Little Choice: Layoffs

Posted: 20 Jan 2011 04:17 PM PST

The banking industry, racked by the financial crisis and facing slower revenue growth, is starting to cut costs—increasingly at the expense of jobs.

European Governments Weigh Bond Buybacks

Posted: 20 Jan 2011 06:57 PM PST

European governments are considering ways to reduce the debt burdens of struggling euro-zone countries such as Greece through bond buybacks, as part of broader measures aimed at ending the crisis of confidence in Europe's common currency.

Morgan Stanley Shows Life

Posted: 20 Jan 2011 07:17 PM PST

Morgan Stanley reported a 35% earnings jump fueled by a surprisingly strong revenue jolt from its army of brokers. But another poor performance by the securities firm's bond traders left analysts wanting more proof that turnaround efforts are gaining traction.

Highland Hospitality Nears Deal With Creditors

Posted: 20 Jan 2011 05:20 PM PST

Highland Hospitality, the hotel chain owned by real-estate mogul Joseph E. Robert Jr.'s investment firm, is nearing a deal to hand ownership to creditors led by Ashford Hospitality Trust and Prudential Financial.

Labor Market Sees Slow Recovery

Posted: 20 Jan 2011 05:17 PM PST

New claims for unemployment benefits dropped last week as the labor market's gradual recovery continued in January.

Industrial Economy Builds Fresh Strength

Posted: 20 Jan 2011 05:43 PM PST

Strong earnings gains and bullish forecasts from several U.S. manufacturers suggest that the rebound in industrial output remains robust and capital spending is growing.

H-P Shake Up in Scandal's Wake

Posted: 20 Jan 2011 07:37 PM PST

Hewlett-Packard is shaking up its board, as four of the directors closely involved in the decision to oust former CEO Mark Hurd said they wouldn't stand for re-election.

Google Founder to Take Over as CEO

Posted: 20 Jan 2011 06:29 PM PST

Google surprised the technology world by naming co-founder Larry Page to replace longtime Chief Executive Eric Schmidt, the biggest management shake-up since the Internet search giant was an obscure California start-up.

ECB Warns on Inflation

Posted: 20 Jan 2011 07:03 PM PST

The European Central Bank warned that commodity and food prices could push euro-zone inflation higher, the latest sign of concern from officials about the buildup of price pressures in the currency bloc.

From China, Signs That Gold's Rally Isn't Endless

Posted: 20 Jan 2011 05:31 PM PST

The gold rally that drove prices to record levels earlier this month is showing signs of stalling, hit by worries China may raise interest rates.

'Mrs. Watanabe' Trades Again

Posted: 20 Jan 2011 06:16 PM PST

Taking advantage of the strong yen and record low interest rates, Japan's famously conservative retail investors—nicknamed "Mrs. Watanabe"—have started pouring their money into emerging-market currencies and other asset classes.

Buffett to Leave Washington Post

Posted: 20 Jan 2011 05:32 PM PST

Warren Buffett will be leaving the board of Washington Post, where he's been a director for some 30 years, to focus on his own company. He plans to keep his Washington Post stock.

Freeport-McMoRan Profit Soars

Posted: 20 Jan 2011 04:26 PM PST

Freeport-McMoRan's fourth-quarter profit jumped 60% as the copper and gold miner benefited from higher selling prices for its metals.

Blockbuster Gets Extension

Posted: 20 Jan 2011 11:09 AM PST

Blockbuster was given until March 21 to file a bankruptcy plan and the judge overseeing the video-rental chain's case said that it can continue with its store-closing procedures.