"Wallstreet" Reader

"Wallstreet" Reader

Asia Mixed as Yen Weakens

Posted: 15 Feb 2011 07:18 PM PST

Asian share markets were mixed with the Nikkei up 0.4% as exporters rose on the yen's weakness.

Banks Go Straight to Public Borrowers

Posted: 15 Feb 2011 05:24 PM PST

Banks are setting aside billions of dollars to do something that until now was rarely heard of: making big loans to cities, states, schools and other public borrowers that otherwise might have turned to the bond market.

Westfield Posts Annual Profit

Posted: 15 Feb 2011 07:11 PM PST

Shopping mall giant Westfield Group posted its first annual profit since 2007 largely due to a recovery in property values.

Goldman to Shut Global Macro Desk

Posted: 15 Feb 2011 04:16 PM PST

Goldman Sachs Group is winding down its Global Macro Proprietary Trading desk to comply with the Volcker rule curbing the ability of banks to take risks with their own capital.

'Poison Pill' Lives as Airgas Wins Case

Posted: 15 Feb 2011 06:24 PM PST

A Delaware judge upheld the Airgas "poison pill," siding against Air Products & Chemicals' challenge to the takeover defense and setting the stage for a likely Delaware Supreme Court challenge.

Stanford Being Moved After Incompetency Finding

Posted: 15 Feb 2011 04:51 PM PST

Money manager R. Allen Stanford is being moved after a federal judge last month found him incompetent to stand trial.

Peltz Offers to Buy Family Dollar

Posted: 15 Feb 2011 07:34 PM PST

Activist investor Nelson Peltz, famous for his big bets on restaurant chains including Wendy's, disclosed in a filing that he's offering to buy discount retailer Family Dollar Stores for between $55 and $60 a share in cash.

Banks Demand Bigger Down Payments

Posted: 15 Feb 2011 04:10 PM PST

The down payments demanded by banks to buy homes have ballooned since the housing bust, forcing many people to rethink what they can afford and potentially shrinking the pool of eligible buyers.

France Seeks Input on Euro Pact

Posted: 15 Feb 2011 06:53 PM PST

France's finance minister urged euro-zone members to stop criticizing a Franco-German pact, while saying the next ECB president would be selected on the basis of competence, rather than passport.

Dell's Faith in Business Sales Pays Off

Posted: 15 Feb 2011 06:43 PM PST

Dell's profit surged as the computer maker reported strong demand from corporate customers and lower component costs. Shares jumped 7% in late trading.

Credit Trends Improve for Card Issuers

Posted: 15 Feb 2011 02:50 PM PST

Continued improvement in credit trends as fewer card holders fell behind on their payments was indicated by data for January released by some big U.S. credit-card issuers.

Judge Blasts Barclays Over Del Monte Sale

Posted: 15 Feb 2011 06:31 PM PST

Barclays Capital secretly "manipulated" the sale of Del Monte Foods to buyout firms to boost its fees, ruled a Delaware judge, who delayed the deal's closing to give others a chance to bid.

Exxon Struggles to Find Oil

Posted: 15 Feb 2011 04:05 PM PST

Exxon Mobil, the world's largest publicly traded oil company, is struggling to find oil. Instead, it is stocking up on natural gas, mostly through its acquisition of XTO Energy Inc. last year.

Fiat's CEO Presses Italy for Changes

Posted: 15 Feb 2011 04:20 PM PST

Fiat's CEO urged Italian lawmakers to enact business-friendly policies, again raising the specter that he may one day move the auto maker's headquarters out of the country.

As Austerity Cuts Bite in Portugal, Discontent Grows

Posted: 15 Feb 2011 01:03 PM PST

Portugal's government, pressured by outsiders to shape up fiscally, now faces growing public protests and political discord over its drastic spending cuts.

Sanofi Expected To Buy Genzyme

Posted: 15 Feb 2011 04:41 PM PST

Sanofi-Aventis is expected to acquire Genzyme for about $19 billion in cash, plus possible additional payments in the future, in a deal that could be announced as soon as Wednesday.

Obama Vows Changes to Entitlements, Tax Code

Posted: 15 Feb 2011 01:59 PM PST

Obama said a meaningful effort to rein in the deficit must include changes to Social Security, Medicare and the tax code.

Brazil: No Plans to Press China on Yuan

Posted: 15 Feb 2011 01:14 PM PST

Brazilian Finance Minister Guido Mantega said Brazil and the U.S. have no plans to jointly press China to allow further appreciation of the yuan.

Nokia Tested by Shareholders, Union

Posted: 15 Feb 2011 12:15 PM PST

Nokia was assailed on two sides after a group claiming to be small shareholders called for the resignation of the CEO, while a union demanded a big payout for every worker laid off in Finland.

Galleon Prosecutors Seek Witness List

Posted: 15 Feb 2011 01:48 PM PST

Prosecutors have asked a judge to order Galleon Group founder Raj Rajaratnam to turn over a list of expert witnesses and secretly recorded conversations he intends to use at trial.