"Wallstreet" Reader

"Wallstreet" Reader

Verizon to Curb Highest Data Users

Posted: 03 Feb 2011 07:09 PM PST

Verizon may start slowing down the data connection of its heaviest users when its network is stressed.

Las Vegas Sands Returns to Profit

Posted: 03 Feb 2011 07:19 PM PST

Las Vegas Sands stormed back to profit in the fourth quarter, fueled by heady growth in the Chinese gambling enclave of Macau and a new $5.5 billion casino in Singapore.

Trustee: J.P. Morgan Abetted Madoff

Posted: 03 Feb 2011 07:32 PM PST

J.P. Morgan stood "at the very center" of Bernard Madoff's fraud, according to a lawsuit unsealed Thursday that reveals for the first time how bank employees' concerns allegedly went unheeded.

Big Fine Over Bug in 'Quant' Program

Posted: 03 Feb 2011 07:17 PM PST

A unit of French insurer AXA agreed to pay $242 million to settle fraud accusations by the SEC that it hid from clients a serious software glitch in a quantitative investment model.

QBE Acquires Balboa Portfolio

Posted: 03 Feb 2011 07:04 PM PST

QBE Insurance acquired the Balboa insurance portfolio from Bank of America-Merrill Lynch for an upfront payment of $700 million.

SEC Files Insider Charges Against Six

Posted: 03 Feb 2011 05:33 PM PST

Four consultants and two former employees of an "expert networking" firm have been sued for allegedly improperly tipping hedge funds and other investors.

A Cotton Market Targets Speculators

Posted: 03 Feb 2011 06:54 PM PST

Intercontinental Exchange Inc. is proposing restrictions on large purchases of cotton, as prices for the fiber whiz past historic highs, spelling trouble for mills and apparel producers.

Respect for ADP: Jobs Picture Is Brighter Than Thought

Posted: 03 Feb 2011 04:31 PM PST

The Labor Department's jobs data may prove that Automatic Data Processing has done a better job in gauging the labor situation recently than many think. That would be bullish.

Pfizer, Merck Take Different R&D Tacks

Posted: 03 Feb 2011 04:45 PM PST

The new leaders of the world's two biggest drug companies made divergent choices this week in balancing the billions of dollars they spend on drug research against pressure to deliver better returns for investors.

UBS Makes Bid to Increase Bonus Pool

Posted: 03 Feb 2011 04:54 PM PST

UBS delayed payment of its bonuses after executives expressed concerns that the pending payouts would be inadequate to retain the top talent the Swiss bank has been hiring to rebuild its investment bank.

Mellon Accused of Fake Trades

Posted: 03 Feb 2011 07:54 PM PST

Recently unsealed documents allege Bank of New York Mellon overcharged Virginia pension funds by at least $20 million.The allegations are part of a widening probe by state prosecutors.

Ford Recalls 280,000 Pickups

Posted: 03 Feb 2011 08:50 AM PST

Ford Motor is recalling 280,000 of its popular F-150 pickup trucks to repair a handle defect which could allow the vehicle's doors to open in a side-impact crash.

Bernanke Denies Fed Is Stoking Inflation

Posted: 03 Feb 2011 06:19 PM PST

Bernanke said the recovery should gain speed this year, but continued support from the Fed is needed amid high unemployment and low inflation, shrugging off higher commodity prices.

Pernod Tastes Win in Rum Row

Posted: 03 Feb 2011 03:24 PM PST

Spain's Supreme Court ruled in favor of Pernod Ricard in a dispute with rival Bacardi over the rights to the Cuban rum trademark Havana Club, setting a likely precedent for other cases involving property taken over by Cuba's communist government.

Blackstone Results Beat Estimates

Posted: 03 Feb 2011 05:36 PM PST

Private-equity giant Blackstone Group's fourth-quarter loss narrowed, and a measure of adjusted profit rose, beating analysts' estimates, as the company's revenue increased sharply.

Starwood Hotels Swings to Profit

Posted: 03 Feb 2011 05:12 PM PST

Starwood swung to a profit as the hotel operator and franchiser said it expects that growth to continue at a steady pace for the year, but that economic uncertainty remains.

Kinder Morgan Sets $2.3 Billion IPO

Posted: 03 Feb 2011 06:23 AM PST

Kinder Morgan could be the largest-ever initial public offering in the U.S. backed by a buyout firm. Trading is expected to start Feb. 11.

Retailers Give Stocks Modest Bump

Posted: 03 Feb 2011 02:09 PM PST

Stocks advanced modestly as encouraging readings on retail sales outweighed worries over Egypt one session before Friday's monthly jobs report.

Oil Prices Shift Lower

Posted: 03 Feb 2011 08:40 AM PST

Crude futures turned lower as the U.S. dollar rallied, but traders remained focused on escalating violence in Egypt and the prospect of supply disruptions.

Central Bankers Give Dollar a Lift

Posted: 03 Feb 2011 05:42 PM PST

The dollar gained sharply against the euro after Europe's Central Banker dashed talk of an interest-rate increase and Fed Chairman Ben Bernanke expressed a more optimistic tone on the pace of the U.S. recovery.