"Wallstreet" Reader

"Wallstreet" Reader

Pay Gap Widens at Big Law Firms

Posted: 07 Feb 2011 07:41 PM PST

Some of the biggest law firms are paying outsize salaries to star attorneys, in some cases 10 times what they give other partners, in a strategy that is stretching compensation gaps and testing morale at firms.

Chipotle Under Scrutiny for Illegal Workers

Posted: 07 Feb 2011 07:31 PM PST

Chipotle Mexican Grill was forced to let go of hundreds of workers in Minnesota over recent weeks amid an immigration probe that has spread to other states.

Rumsfeld's View of the White House

Posted: 07 Feb 2011 06:53 PM PST

In excerpts from his new memoir, former Defense Secretary Donald Rumsfeld reveals tensions within the George W. Bush administration, criticizing Condoleezza Rice for her role in the handling of post-war Iraq and disclosing that he tried to resign after the Abu Ghraib scandal.

States Seek Prison Breaks

Posted: 07 Feb 2011 05:56 PM PST

States seeking to save money are beefing up probation and parole programs to reduce the number of prison inmates, as well as pushing rehabilitation over jail for low-level drug crimes.

Cash Buyers Lift Housing

Posted: 07 Feb 2011 07:05 PM PST

Buyers in markets around the U.S. are snapping up homes in all-cash deals, betting that prices are at or near bottom and breathing life into some of the nation's most battered housing markets.

Most Asian Shares Up, Cheered by Wall Street

Posted: 07 Feb 2011 07:16 PM PST

Asian stock markets were mostly higher Tuesday, cheered by Wall Street's rise Monday. Australian financial stocks tracked their U.S. peers' gains, and lifted Sydney's headline index 0.3% to a 10-month high.

Facebook Firing Case Is Settled

Posted: 07 Feb 2011 03:21 PM PST

A company that fired a worker after she posted negative remarks about her boss on Facebook has settled a complaint brought by the NLRB.

Verizon iPhone Has New Antenna

Posted: 07 Feb 2011 04:04 PM PST

Apple's iPhone for the Verizon Wireless network contains a newly designed version of the antenna that was associated with dropped calls on the original device.

AOL Makes Big Bet With Huffington Post

Posted: 07 Feb 2011 07:23 PM PST

In its fight for survival, AOL is paying a rich price to hitch itself to the Huffington Post, and its outspoken celebrity co-founder, Arianna Huffington.

Japan Posts Higher Current Account Surplus

Posted: 07 Feb 2011 05:04 PM PST

Japan's current account surplus rose 30.5% in December from a year earlier, the Ministry of Finance said Tuesday, as exports began to climb due to an improving global economy.

Chesapeake Energy Puts Assets on Block

Posted: 07 Feb 2011 04:46 PM PST

Chesapeake Energy said that it will sell its stakes in a major natural-gas field and two private energy companies in hopes of reducing its debt by as much as $3 billion.

Chinese Demand Lifts U.S. Wood Sales

Posted: 07 Feb 2011 04:56 PM PST

U.S. timber exports to China are suddenly surging, a bright spot for an industry still reeling from weakness in the housing market.

Breach Spotlights Pitfalls of Nasdaq's Diversification

Posted: 07 Feb 2011 07:36 PM PST

The pitfalls of Nasdaq OMX Group's strategy to diversify beyond stock and options trading became evident after the company acknowledged a computer system had been broken into.

Drone Will Call Aircraft Carriers Home

Posted: 07 Feb 2011 04:42 PM PST

The Navy said it made a breakthrough in drone technology with the first flight of the X-47B, an unmanned jet designed to take off and land from an aircraft carrier, one of the most complex and difficult feats in aviation.

SEC Urged to Review Security Policies

Posted: 07 Feb 2011 02:18 PM PST

Sen Robert Menendez, in the wake of the Nasdaq hacking revelations, called on regulators to examine policies regarding security breaches at exchanges.

NFL to Repay Fans for Texas Missteps

Posted: 07 Feb 2011 03:58 PM PST

The NFL offered 2012 Super Bowl tickets to ticket holders left seatless at Sunday's big game, as Texas officials downplayed the effects these snafus might have on their chances to snag future events.

U.K. Banks Join Transparency Push

Posted: 07 Feb 2011 04:08 PM PST

HSBC and Lloyds plan to start reporting results on a quarterly basis, rather than that twice a year, joining a Europewide push toward greater bank transparency.

Former Galleon Trader Discussed Cooperating Since October

Posted: 07 Feb 2011 07:35 PM PST

A former Galleon Group trader had been speaking with federal prosecutors in Manhattan since last October about possibly cooperating in the criminal case against the hedge-fund firm's founder, Raj Rajaratnam.

Tax Credits Help Profits Rise

Posted: 07 Feb 2011 02:42 PM PST

Research and development and other tax breaks are contributing to higher fourth-quarter corporate earnings even as debate begins on changes to the tax code.

U.S., Brazil Plan to Press China on Yuan

Posted: 07 Feb 2011 06:33 PM PST

Treasury Secretary Timothy Geithner, on a visit to Latin America's biggest economy, urged Brazilian officials to help the U.S. pressure China to allow its currency to appreciate.