"Wallstreet" Reader

"Wallstreet" Reader

U.S. Point Man on Sanctions to Leave

Posted: 23 Jan 2011 07:15 PM PST

The point man for the Obama administration's financial wars on Iran, North Korea and al Qaeda, Stuart Levey, has decided to leave his senior U.S. Treasury Department post at what is turning out to be a particularly critical time.

Health Clash Senate Bound

Posted: 23 Jan 2011 06:03 PM PST

Top senators from both parties predicted Sunday that Republicans could muscle their way to a Senate vote on repealing the health overhaul, setting up another clash over the Democrats' landmark legislative achievement.

Asia Shares Inch Higher

Posted: 23 Jan 2011 07:51 PM PST

Asian stock markets were modestly higher Monday, but demand was capped by mixed leads from Wall Street on Friday, while an earnings downgrade by Australian retailer Woolworths weighed on Sydney.

Banker Ensnared in Galleon Case

Posted: 23 Jan 2011 07:56 PM PST

A Morgan Stanley banker is under investigation by prosecutors for allegedly leaking information that was relayed to Galleon Group founder Raj Rajaratnam about a 2006 merger, people close to the situation say.

Banks Become Target for Patent Suits

Posted: 23 Jan 2011 05:31 PM PST

Banking is the latest industry to be swept up in a wave of lawsuits that accuse companies of breaking the law by using expired patent numbers.‬

Google Gives $100 Million Award to Outgoing CEO

Posted: 23 Jan 2011 07:57 PM PST

Google, fresh off announcing a management shake-up, will give a $100 million equity award to outgoing Chief Executive Eric Schmidt, who in April will be succeeded by company co-founder Larry Page.

Rock-Tenn to Buy Smurfit for $3.5 Billion

Posted: 23 Jan 2011 05:49 PM PST

Rock-Tenn agreed to purchase Smurfit-Stone Container for $3.5 billion in cash and stock just seven months after Smurfit emerged from bankruptcy proceedings.

Air France to Release Safety Findings

Posted: 23 Jan 2011 06:45 PM PST

Air France is slated to release the findings of an independent review broadly critical of some of its past safety practices and internal safeguards.

Sara Lee to Move on Offers

Posted: 23 Jan 2011 06:13 PM PST

Sara Lee will decide this week on offers from Brazilian beef processor JBS and a group led by private-equity firm Apollo Global Management and investor C. Dean Metropoulos.

Obama's Address Previews 2012 Race

Posted: 23 Jan 2011 05:08 PM PST

President Obama will call for a "responsible" effort to shrink the deficit but won't offer detailed plans on spending and taxes in a State of the Union address Tuesday that will presage the broad themes for political debate through the 2012 election.

Insider Probe Impact Felt by Pension Funds

Posted: 23 Jan 2011 06:41 PM PST

The federal insider-trading probe is being felt beyond the world of hedge funds and "expert network" firms in New York and Silicon Valley.

Green Bay Packing for Super Bowl XLV

Posted: 23 Jan 2011 05:25 PM PST

The Packers held off a late rally led by Chicago's third-string quarterback to clinch the NFC Championship.

Alabama Stock Cop Is Relentless

Posted: 23 Jan 2011 04:32 PM PST

Joseph Borg has never mounted his Kawasaki motorcycle in pursuit of a fraud figure. But Alabama's securities commissioner once sent investigators by armored personnel carrier to close down a Florida church.

Movie Moguls Tap into Television Production

Posted: 23 Jan 2011 07:54 PM PST

Harvey and Bob Weinstein are one of several Hollywood movie makers ramping up television production this year, with 15 shows in development and a commitment to spend more than $10 million per year on the initiative.

Olbermann's Exit Ends Tumultuous MSNBC Affair

Posted: 23 Jan 2011 07:53 PM PST

Friday's abrupt announcement that Keith Olbermann would leave capped months of internal tension, during which his representatives sought at least twice to be bought out of his contract.

New York Times Readies Pay Wall

Posted: 23 Jan 2011 07:59 PM PST

The New York Times next month is expected to begin offering a long-anticipated menu of online subscription packages, marking an important test for consumer willingness to pay for news.

Markets Rediscover the Fundamentals

Posted: 23 Jan 2011 07:05 PM PST

The markets are no longer rising and falling on the latest perception of risk, which could be a relief to investors frustrated by what they see as a market often detached from fundamental concerns.

Protecting Profits at a Price

Posted: 23 Jan 2011 04:41 PM PST

A clear theme is emerging in early fourth-quarter earnings reports: Companies expect a pitched battle this year to protect profit margins from sharply rising costs.

New Push at Fed for Official Inflation Target

Posted: 23 Jan 2011 01:02 PM PST

Federal Reserve officials last year, prodded by Chairman Ben Bernanke, seriously considered adopting an explicit target for inflation of 2%, but Mr. Bernanke failed to forge a consensus and backed away. The issue could resurface in 2011.

The Week Ahead: Davos

Posted: 23 Jan 2011 12:41 PM PST

The World Economic Forum begins Wednesday in Davos, Switzerland, and while attendees with tough issues like sovereign debt and currency volatility, the economic mood has brightened.