"Wallstreet" Reader

"Wallstreet" Reader

MSNBC, Olbermann Call It Quits

Posted: 21 Jan 2011 07:22 PM PST

Cable host Keith Olbermann and news channel MSNBC abruptly parted ways on Friday night, as the network announced that his contract had ended and the last installment of his show would air that evening.

Water Needs Collide With Antitax Push

Posted: 21 Jan 2011 05:29 PM PST

In California's rural Central Valley, a dispute over a proposed tax has pitted farmers worried about their water supply against local politicians elected on an antitax platform.

Obama to Push New Spending

Posted: 21 Jan 2011 05:37 PM PST

Obama will call for new government spending on infrastructure, education and research in his State of the Union address, sharpening his response to Republicans in Congress who are demanding deep budget cuts.

Structure Keeps Mafia Atop Crime Heap

Posted: 21 Jan 2011 04:44 PM PST

Russian mobsters, Chinese gangsters and Mexican cartels have all grabbed slices of the criminal activity traditionally dominated by the mafia. But none have come close to exerting the kind of influence still enjoyed by La Cosa Nostra.

As Street Rebounds, So Does Top Pay

Posted: 21 Jan 2011 07:45 PM PST

The financial crisis dragged sky-high pay packages for top Wall Street executives down to earth. Those days are ending. Citigroup said CEO Vikram Pandit will get a base salary of $1.75 million in 2011.

Viacom CEO's Pay More Than Doubled

Posted: 21 Jan 2011 03:43 PM PST

Viacom CEO Dauman's 2010 compensation, valued at $84.5 million, more than doubled from a year ago, due in part to one-time stock and options awards.

Fannie-Freddie Report Likely to Be Late

Posted: 21 Jan 2011 04:37 PM PST

The Obama administration is likely to miss a deadline for issuing a long-awaited report about the future of mortgage giants Fannie Mae and Freddie Mac and what might replace them.

Tough '10 Puts BofA at Rear of Bank Pack

Posted: 21 Jan 2011 05:45 PM PST

Bank of America cemented its status as a laggard among big U.S. banks Friday with a fourth-quarter loss of $1.2 billion, capping a rough first year on the job for Chief Executive Brian Moynihan.

New CEO Page Seeks More Agile Google

Posted: 21 Jan 2011 05:46 PM PST

As Google's new CEO, Larry Page faces the challenge of leading a company that has grown into a giant that must compete with agile Web upstarts such as Facebook and Groupon.

Facebook Limits Deal, Still Raises $1 Billion

Posted: 21 Jan 2011 06:00 PM PST

Facebook raised $1 billion from non-U.S. investors in a controversial private deal arranged by Goldman Sachs that values the company at $50 billion.

U.S. Sees Shift in China's Tone on Yuan

Posted: 21 Jan 2011 06:19 PM PST

U.S. officials said there were subtle signs in language and tone during Chinese President Hu Jintao's visit that China is preparing to let the yuan appreciate faster.

Prosecutors: New Detail in Galleon Case

Posted: 21 Jan 2011 05:52 PM PST

A Morgan Stanley banker who wasn't named allegedly leaked details of a merger involving Advanced Micro Devices in 2006, according a court filing in a closely watched insider-trading case.

Schmidt to Sell $335 Million of Google Shares

Posted: 21 Jan 2011 12:54 PM PST

Google's outgoing CEO Eric Schmidt has filed paperwork to sell company shares currently worth $335 million this year, his first such sale in more than three years.

Surprise: Banks Ease Card Fees

Posted: 21 Jan 2011 03:43 PM PST

Lenders are betting that bad publicity from imposing fees could hurt more than higher fees help.

Foreign Investors Yank $1 Billion From Indian Stocks

Posted: 21 Jan 2011 06:40 PM PST

In a sign that some foreign investors are losing their enthusiasm for India, they have pulled out more than $1 billion from Indian stocks in the past 12 trading sessions.

Yield-Curve Anomaly Suggests U.S. Ratings Downgrade

Posted: 21 Jan 2011 12:13 PM PST

Ratings firms aren't convinced, but some bond experts believe the Treasurys market is signaling the U.S. could one day be stripped of its AAA status as it confronts a bloated budget deficit with no clear plans to reduce debt.

Death-Penalty Delays Loom on Drug's Halt

Posted: 21 Jan 2011 03:03 PM PST

The sole U.S. maker of a key execution drug has decided to permanently halt production of the drug, which could lead many states to face delay in carrying out the death penalty.

Google Change Is Test for Page, Company's Bench

Posted: 21 Jan 2011 12:51 PM PST

Google shake-up marks a test for its co-founder, Larry Page, and of its executive bench, which analysts say is strong.

Schlumberger Net Rises on Drilling Rebound

Posted: 21 Jan 2011 09:54 AM PST

Oil-field services company Schlumberger on Friday posted a 31% gain in fourth-quarter profit, benefiting from a rebound in North American drilling and a large acquisition.

China's ICBC Moves to Buy U.S. Branches

Posted: 21 Jan 2011 06:19 PM PST

Industrial & Commercial Bank of China signed an agreement to acquire a majority stake in Bank of East Asia's U.S. subsidiary, becoming the first state-owned Chinese bank to make an acquisition of a U.S. deposit-taking institution.