"Wallstreet" Reader

"Wallstreet" Reader

BP's Safety Drive Faces Rough Road

Posted: 31 Jan 2011 07:33 PM PST

BP pledged after last year's Gulf of Mexico disaster to remold its safety practices; what it's up against in trying to change its culture is shown in the case of a dismissed Alaska safety official.

CNL Hotels Weighs Bankruptcy Protection

Posted: 31 Jan 2011 06:28 PM PST

CNL Hotels & Resorts is weighing a bankruptcy-court protection filing as its faces a deadline Tuesday to repay about $1.5 billion in debt on five properties

Afghan Officials Probed Over Bank

Posted: 31 Jan 2011 07:05 PM PST

Investigators probing massive fraud that nearly brought down Afghanistan's largest bank have found the lender avoided scrutiny for years by giving clandestine loans, bribes and other payoffs to senior government officials.

No Time for CliffsNotes?

Posted: 31 Jan 2011 07:34 PM PST

Reality-show producer Mark Burnett is teaming up with an independent movie company and AOL to make comedic videos based on CliffsNotes summaries of classic books.

The Dow's Rockin' New Year

Posted: 31 Jan 2011 06:05 PM PST

Blue-chip stocks kicked off the new year with their strongest January in 14 years.

Boom's Home-Ownership Gains Lost

Posted: 31 Jan 2011 05:18 PM PST

The meltdown of the U.S. mortgage market and rising foreclosure rate have wiped out more homeowners than were created in the 2000-07 housing boom, the latest indication of the severity of the housing bust.

BofA's Moynihan Gets $9.05 Million Deferred-Stock Bonus

Posted: 31 Jan 2011 04:17 PM PST

Bank of America Chief Executive Brian Moynihan received $9.05 million in a deferred-stock bonus, his first performance award for running the bank.

SEC Probes Harrisburg's Muni Disclosures

Posted: 31 Jan 2011 01:56 PM PST

The Securities and Exchange Commission is examining whether officials in Pennsylvania's cash-strapped capital city, Harrisburg, provided enough information to bond investors.

Spanish Bank Tackles Toxic Assets

Posted: 31 Jan 2011 06:07 PM PST

Banco Financiero y de Ahorros will set aside $12.52 billion to cover loan losses and write down the value of its real-estate holdings, illustrating the ongoing fallout from the country's property bust.

WTO Rules Boeing Got Improper Subsidies

Posted: 31 Jan 2011 04:10 PM PST

The World Trade Organization ruled formally that U.S. federal and local governments gave billions of dollars in subsidies to airplane maker Boeing in violation of WTO rules.

Businesses Halt Operations in Egypt

Posted: 31 Jan 2011 09:01 AM PST

International businesses including GM, Nissan and Heineken started to halt operations in Egypt as anti-government protests ran into a seventh day.

Intel Finds Chip-Design Flaw

Posted: 31 Jan 2011 07:54 AM PST

Intel discovered a design issue in a recently released support chip for its Sandy Bridge processors, prompting it to halt some shipments. It estimated the cost to repair and replace the chip at $700 million.

Hedge Funds Seek Clarity on 'Expert Networks'

Posted: 31 Jan 2011 06:03 PM PST

An industry group has asked the SEC for guidelines on the use of such firms, which have been under scrutiny in a federal insider-trading probe.

BP Partner Aims to Block Dividend

Posted: 31 Jan 2011 11:40 AM PST

Alfa-Access-Renova, BP's partner in TNK-BP, upped the ante in its conflict with the U.K. oil giant by agreeing to withhold TNK-BP's $1.8 billion fourth-quarter dividend—a move that could be a big financial blow to BP.

Allergan Invests in Migraine Drug

Posted: 31 Jan 2011 09:02 AM PST

Allergan, maker of Botox, is expanding its reach into migraine treatments with an investment in Map Pharmaceuticals' experimental inhaled drug Levadex.

Dow Closes January With 2.7% Gain

Posted: 31 Jan 2011 02:52 PM PST

Stocks rose in the final session of the strongest January in years, sloughing off worries over the unrest in Egypt as investors took heart that the Suez Canal was still open.

Gannett's Profit Jumps 30%

Posted: 31 Jan 2011 10:02 AM PST

Gannett, the country's biggest newspaper publisher, said earnings jumped 30% as costs fell.

Exxon Profit Soars

Posted: 31 Jan 2011 03:46 PM PST

Exxon said its fourth-quarter earnings surged 53% amid higher oil prices and the return to profitability of its refining arm.

Big Firms Get Break on Their Borrowing

Posted: 31 Jan 2011 05:13 PM PST

Banks made it easier for many large and midsize businesses to borrow money in the past three months, but made little change in how they treat consumers or small businesses.

Stanley Ho Appears Combative in Video

Posted: 31 Jan 2011 05:40 PM PST

Stanley Ho appears ready to fight his children over control of his Macau gambling empire, calling a transfer of shares "robbery," in a video released by a lawyer who says he represents the ailing tycoon.