"Wallstreet" Reader

"Wallstreet" Reader

Hackers Penetrate Nasdaq's Computers

Posted: 04 Feb 2011 07:30 PM PST

Hackers have repeatedly broken into Nasdaq's computer networks in the past year, prompting a federal investigation that has the attention of the White House.

IMF Warns on Inflation, Growth Risks

Posted: 04 Feb 2011 05:52 PM PST

Emerging market economies need to curb growth to prevent overheating and help calm food and energy price inflation that threatens to undermine the global recovery, the International Monetary Fund's No. 2 official said.

Project Weighs on KB Home

Posted: 04 Feb 2011 06:09 PM PST

A group of lenders forced a massive housing project in the Las Vegas area into bankruptcy, raising the possibility that KB Home and other builders will have to pay more than $320 million in losses.

Hungary Blasts IMF Assessment

Posted: 04 Feb 2011 10:58 AM PST

Hungary harshly criticized the IMF for what it said was the fund's misleading assessment of the country, and it called on the IMF to publicly acknowledge it made an error about the country's 2010 budget assumptions.

U.S. Mulls Big Pipeline Decision

Posted: 04 Feb 2011 04:35 PM PST

Concerns over pipeline safety threaten to complicate the relationship between the U.S. and its largest petroleum supplier.

Madoff Trustee Buzzes Mets

Posted: 04 Feb 2011 05:22 PM PST

The New York Mets' owners, their families and businesses were one of the largest beneficiaries of Madoff's fraud, according to a lawsuit unsealed Friday. The suit seeks up to $1 billion. The owners denied the allegations.

BofA Sets Mortgage Cleanup Unit

Posted: 04 Feb 2011 07:15 PM PST

Bank of America Chief Executive Brian Moynihan shook up his mortgage team Friday by tapping adviser Terry Laughlin to run a new unit tasked with cleaning up the bank's mortgage mess.

Goldman Sachs Nears Deal for Applebee's Franchisee

Posted: 04 Feb 2011 01:30 PM PST

Goldman Sachs's private-equity arm is near a deal to buy closely held Apple American Group, the largest franchisee of Applebee's restaurants in the U.S.

Treasury Report Steps Up Yuan Criticism

Posted: 04 Feb 2011 05:34 PM PST

The U.S. Treasury declined to name China or any other country as a manipulator of its currency in the Treasury's much-awaited report on foreign-exchange policies.

U.S. Seeks to Defer Big Part of Bonuses

Posted: 04 Feb 2011 03:44 PM PST

U.S. regulators will propose that large financial firms hang on to at least half of the bonuses paid to top executives for at least three years, part of new rules aimed at discouraging high levels of Wall Street pay.

Barneys, Prada in Tussle

Posted: 04 Feb 2011 05:11 PM PST

Barneys New York Chief Executive Mark Lee says Prada is no longer selling any new goods but shoes at Barneys in what he said was fallout from a spat over pricing and inventory control.

$14.5 Million Bonus for Barclays's CEO

Posted: 04 Feb 2011 04:58 PM PST

A $14.5 million bonus for Robert E. Diamond Jr., who led the investment-banking unit last year, would fuel the still-potent political furor over banker payouts in the U.K.

Job Report Muddies Outlook

Posted: 04 Feb 2011 06:43 PM PST

The U.S. economy added few jobs in January as storms likely held people out of work. A separate report showed the unemployment rate fell to 9%, its lowest level since April 2009.

Modified Beet Gets New Life

Posted: 04 Feb 2011 04:48 PM PST

The USDA will allow farmers to resume planting the widely used genetically modified version of the sugar beet plant that a federal judge has effectively banned.

Fiat and Chrysler Could Merge All Operations

Posted: 04 Feb 2011 01:01 PM PST

Fiat and Chrysler Group may combine operations and put its headquarters in the U.S. under current Chief Executive Officer Sergio Marchionne.

Investors Exit Emerging Markets

Posted: 04 Feb 2011 03:47 PM PST

Emerging-market stock funds saw their biggest outflows in three years during the most recent week, suggesting increased investor caution on these fast-growing regions.

Fortune Brands Posts Higher Profit, Sales

Posted: 04 Feb 2011 09:35 AM PST

Fortune Brands posted higher fourth-quarter earnings, aided by sales growth in all three of its units.

Verizon Wireless Says iPhone Sets Record

Posted: 04 Feb 2011 07:23 AM PST

Verizon Wireless said the number of iPhones it sold in the first two hours of availability exceeded the one-day total for any other device's debut in its history.

Shumway Capital to Cash Out Investors

Posted: 04 Feb 2011 09:27 AM PST

Shumway Capital Partners is planning to return all of its external capital to investors by the end of the first quarter, founder Chris Shumway said in a letter to investors on Friday.

Luxury Shoppers Return to LVMH

Posted: 04 Feb 2011 07:49 PM PST

Luxury goods giant LVMH said its profit rose 73% in 2010, as sales of its profitable Louis Vuitton luggage propelled the business through the end of the year.