"Wallstreet" Reader

"Wallstreet" Reader

Orphanides Urges Action on Debt Crisis

Posted: 20 Feb 2011 06:09 PM PST

Portugal could run into even deeper fiscal trouble if euro-zone governments don't accelerate steps to improve how the currency bloc is managed, said Athanasios Orphanides, one of the region's top central bankers.

Sovereign-Debt Worries to Weigh on Euro

Posted: 20 Feb 2011 06:52 PM PST

The euro could wobble this week over sovereign-debt and banking concerns, despite Friday's gain after the hawkish comments of a European Central Bank member.

Ryanair to Target Ads on Boarding Passes

Posted: 20 Feb 2011 06:15 PM PST

Ryanair is teaming up with a media company to sell targeted ads aimed at passengers booking and checking in online.

Greek Bank Deals Begin

Posted: 20 Feb 2011 07:06 PM PST

National Bank of Greece, the country's largest bank by assets, may be ready to slightly sweeten the bid in its friendly takeover of Alpha Bank, but isn't prepared to double the premium that Alpha is demanding, a senior person familiar with the matter said.

Iceland's President Blocks Deal on Icesave

Posted: 20 Feb 2011 06:03 PM PST

Iceland's president again vetoed a bid by the Parliament to repay the U.K. and the Netherlands more than $5 billion lost by depositors in Iceland's banking collapse—sending the matter to a referendum.

West Australian to Buy Seven Media

Posted: 20 Feb 2011 04:17 PM PST

West Australian Newspapers will buy Seven Media Group, one of Australia's leading media companies, in a deal worth US$4.2 billion.

Woodside Petroleum Profit Up

Posted: 20 Feb 2011 04:21 PM PST

Woodside Petroleum reported a 6.9% rise in annual profit as a higher oil price and the positive conclusion of some liquefied natural gas pricing negotiations helped offset lower oil and gas production.

Gadhafi's Son Warns of Civil War in Libya

Posted: 20 Feb 2011 03:47 PM PST

The son of Libyan leader Moammar Gadhafi says protesters have seized control of some military bases and tanks. Appearing on Libyan state television Sunday night, Seif al-Islam warned of civil war in the country that would burn its oil wealth.

Strauss-Kahn Remains Elusive Over Primary Run

Posted: 20 Feb 2011 03:04 PM PST

Dominique Strauss-Kahn gave his strongest hints yet that he was unlikely to seek a second mandate as managing director of the International Monetary Fund, but stopped short of giving an answer over whether he will run in France's 2012 presidential elections.

Sapporo to Expand in North America

Posted: 20 Feb 2011 07:22 PM PST

Sapporo Holdings is mapping out strategies that could involve acquisitions or creating a new plant to meet rising demand for premium beer in North America. In Asia, the Japanese company is expanding its beer and soft-drink business.

Hyundai Motor Cuts Its Offer

Posted: 20 Feb 2011 02:11 PM PST

South Korean conglomerate Hyundai Motor Group made a reduced offer of $4.47 billion for a controlling stake in Hyundai Engineering & Construction, an official at one of the seller companies said, bringing the drawn-out sale closer to completion.

China Fuel-Price Bump Complicates Inflation Fight

Posted: 20 Feb 2011 01:31 PM PST

China raised gasoline and diesel prices Sunday, a move that is meant to reflect rising international crude-oil prices but that could complicate the government's efforts to combat inflation.

Diageo Nears Deal With Turkish Spirits Maker

Posted: 20 Feb 2011 06:08 PM PST

Diageo is close to buying Turkish spirits company Mey Içki for between $2 billion and $2.5 billion, a deal that would give the U.K. alcohol giant access to a vast distribution network Turkey.

China's U.S. IPO Pipeline Quietly Grows

Posted: 20 Feb 2011 02:15 PM PST

China was the home of some of the best- and worst-performing stock offerings that hit the U.S. last year. The handful of offerings so far this year have been mediocre, but more companies from China are readying IPOs.

Hopu's Ong Plans His Own $2 Billion Fund

Posted: 20 Feb 2011 06:53 PM PST

Richard Ong, one of Hopu Investment Management's founding partners, is leaving the China-focused private-equity firm to set up his own $2 billion fund, according to people familiar with the situation.

Region's Protests Spread to Morocco

Posted: 20 Feb 2011 03:48 PM PST

Thousands of protesters took to the streets in Morocco to demand sweeping changes to the nation's constitution.

Call for Protests Unnerves Beijing

Posted: 20 Feb 2011 01:50 PM PST

Chinese authorities detained dozens of political activists after an anonymous online call for protests in 13 cities, though only a handful of people appear to have shown up to demonstrate.

Death Toll Surges in Libya

Posted: 20 Feb 2011 03:37 PM PST

Violent clashes between protesters and security forces snowballed in cities throughout eastern Libya, as the country's leader Moammar Gadhafi struggled to crush an uprising aimed at ending his 42-year rule.

Iran Forces Dig In Along Protest Routes

Posted: 20 Feb 2011 05:42 AM PST

Thousands of demonstrators chanting against the government poured into the streets in nationwide protests on Sunday, clashing with security forces trying to disperse them.

Bahrain Set for Talks

Posted: 20 Feb 2011 04:23 AM PST

Bahrain's political crisis continued to cool down as seven opposition groups working to present protesters demands said they would meet to coordinate a response to the government's call for dialogue.