"Wallstreet" Reader

"Wallstreet" Reader

U.S. Opposes Defense Mergers

Posted: 08 Feb 2011 07:02 PM PST

The Pentagon's procurement chief is expected to tell Wall Street Wednesday that the Defense Department opposes consolidation among top-tier military contractors.

London, Toronto Exchanges Talk Merger

Posted: 08 Feb 2011 05:56 PM PST

The stock markets of London and Toronto said they are in advanced talks to merge, producing a mining- and resource-exchange giant that would rank No. 2 globally in terms of the value of the companies traded.

Assange Probe Hits Snag

Posted: 08 Feb 2011 05:08 PM PST

U.S. prosecutors have been unable to uncover evidence that WikiLeaks founder Julian Assange induced an Army private to leak government documents to his website.

Warning Shot on Financial Protection

Posted: 08 Feb 2011 04:12 PM PST

The enforcement chief of the new Consumer Financial Protection Bureau said it plans to "immediately" use its powers to take on any misbehavior by Wall Street firms and other financial institutions once the agency officially opens in July.

Big Casino Project Back From Dead

Posted: 08 Feb 2011 05:19 PM PST

The Revel casino development in Atlantic City, N.J., is nearing completion of a deal for $1.15 billion in capital that will allow the once-doomed project to be finished.

Stock Recovery in High Gear

Posted: 08 Feb 2011 07:08 PM PST

The S&P 500 is just points away from doubling off its 666.79 intraday nadir reached in the darkest moments of the financial crisis, part of a large-scale rally fueled in large part by trillions of dollars of fiscal and monetary stimulus.

Big Studios Sue Hotfile

Posted: 08 Feb 2011 04:33 PM PST

The five major Hollywood studios filed suit against Hotfile, a website that streams movies and TV shows, accusing it of stealing copyrighted material "on a staggering scale."

U.K. to Aid Businesses

Posted: 08 Feb 2011 04:03 PM PST

The U.K. government will announce new export trade-finance initiatives aimed at helping small businesses gain access to overseas markets as part of its strategy to boost export growth.

Cisco Struggles With 'Air Pockets'

Posted: 08 Feb 2011 06:37 PM PST

Tech leader Cisco Systems, which reports quarterly results on Wednesday, is worrying investors that it's falling behind the pack.

California Plan Is Hope for Bondholders

Posted: 08 Feb 2011 05:38 PM PST

The restructuring plan that Vallejo, Calif., is hammering out with creditors provides some assurances for skittish bondholders and pensioners about their fate in a municipal bankruptcy.

IRS Sets Offshore Amnesty

Posted: 08 Feb 2011 05:41 PM PST

The Internal Revenue Service on Tuesday announced a new limited amnesty for U.S. taxpayers with secret foreign accounts that will allow them to pay penalties and avoid jail time.

Ally CEO on Repaying Bailout Funds

Posted: 08 Feb 2011 05:43 PM PST

Ally Financial CEO Michael A. Carpenter talks about repaying bailout funds and the position of General Motors in the lending landscape.

Wells Fargo's Finance Chief Retires

Posted: 08 Feb 2011 06:17 PM PST

Howard Atkins resigned as chief financial officer of Wells Fargo & Co., leaving the San Francisco bank without one of the architects of its dramatic expansion during the financial crisis.

Dell Shows Off Windows Tablet

Posted: 08 Feb 2011 02:16 PM PST

Dell said it plans to release a 10-inch tablet that runs Windows 7 and unveiled laptop and desktop computers for businesses that include features popular with consumers.

Disney Profit Jumps 54%

Posted: 08 Feb 2011 04:41 PM PST

Walt Disney's fiscal first-quarter earnings rose 54%, led by strong gains at its media networks, while its parks division benefited from higher attendance.

Fed Hawks Wary of Bond Buying

Posted: 08 Feb 2011 07:08 PM PST

The Federal Reserve's inflation hawks stirred Tuesday, signaling caution about the central bank's program to purchase hundreds of billions of dollars of U.S. Treasury bonds as inflation worries again affected bond markets.

Home Affordability Hits Pre-Bubble Levels

Posted: 08 Feb 2011 07:35 PM PST

The ratio of median home prices to annual household incomes has returned to pre-bubble levels in a growing number of U.S. markets over the past year.

Probe of Toyota Rules Out Electronic Flaws

Posted: 08 Feb 2011 12:31 PM PST

A U.S. government investigation into Toyota safety problems found no electronic flaws to account for reports of sudden, unintentional acceleration. Its key finding: Most incidents appeared to be caused by driver error.

Obama Budget Proposes Broader Unemployment Taxes

Posted: 08 Feb 2011 03:10 PM PST

Obama's budget proposal is expected to give states a way to collect more payroll taxes from businesses, in an effort to replenish the unemployment-insurance program. The plan could cause controversy at a time when the administration is seeking to mend fences with corporate America.

GE Capital to Sell Subordinated Bond

Posted: 08 Feb 2011 01:18 PM PST

General Electric Capital Corp., the finance arm of General Electric Co., said Tuesday it would sell the first of what may be a number of less-than-senior offerings from financial-services issuers.