"Wallstreet" Reader

"Wallstreet" Reader

Dollar's Fall Rocks Far-Flung Families

Posted: 24 Feb 2011 07:34 PM PST

Funds sent home from overseas workers account for more than 10% of the Philippines' economic output. Now, that lifeline is weakening as the dollar continues to languish.

Carriers Brace for Increases in Fuel Prices

Posted: 24 Feb 2011 06:17 PM PST

Prices for jet fuel are rising swiftly this year, prompting airlines to raise fares, tack on new fees, and to consider offering fewer flights or flying smaller planes.

Asia Mixed; Oil Retreats, But Libya Still Weighs

Posted: 24 Feb 2011 07:24 PM PST

Asian stock markets were mixed after oil prices retreated but the Middle East crisis kept most buyers at bay. Japan's Nikkei Stock Average was up 0.2%

Online Trackers Rake In Funding

Posted: 24 Feb 2011 06:08 PM PST

Venture capitalists are plowing money into companies that help target online advertising, despite public concern about privacy and potential government restrictions.

China Funds Quietly Bet on Japan

Posted: 24 Feb 2011 07:29 PM PST

China's government-wealth investors last year more than doubled their investments in major Japanese blue-chip companies, with combined stakes totaling more than $19 billion, through obscurely named vehicles registered in Australia.  

AIG Profit Belies Questions

Posted: 24 Feb 2011 06:12 PM PST

AIG swung to a fourth-quarter profit, as the insurer booked $17.6 billion of gains related to the sale of its divested businesses that offset a $4.2 billion charge to strengthen loss reserves at its Chartis unit.

Banks Bristle at Mortgage-Loan Plan

Posted: 24 Feb 2011 04:08 PM PST

The banking industry privately knocked the Obama administration's nascent proposal to force banks to modify mortgage loans, saying the plan won't help solve problems facing troubled borrowers.

Budget Rift at CFTC Pulls Plug on Alarm

Posted: 24 Feb 2011 05:43 PM PST

The CFTC halted development of a program to flag suspicious trading because of an $11 million cut in its technology budget. Financial regulators are facing internal struggles over funds as they implement the Dodd-Frank law.

Locke: U.S. 'Making Progress' on Trade With China

Posted: 24 Feb 2011 04:17 PM PST

The U.S. government is "making progress" in eliminating trade barriers with China as the Obama administration pursues its goal of rapidly growing American exports, Commerce Secretary Gary Locke said.

Huawei Asks U.S. to Clear the Air

Posted: 24 Feb 2011 07:38 PM PST

Huawei invited U.S. authorities to formally investigate the company, frustrated over what it says are unsubstantiated suspicions that it poses a security threat.

DreamWorks Falls Short

Posted: 24 Feb 2011 07:02 PM PST

DreamWorks Animation profit nearly doubled but only because of a one-time tax benefit. While two of its movies last year performed well, "Megamind" was a disappointment.

Myspace Opens Books to Prospective Buyers

Posted: 24 Feb 2011 06:09 PM PST

News Corp.'s efforts to sell Myspace are advancing. Suitors have begun scheduling meetings to look at the website's financials.

Lien on Me: IRS Eases Debt Rules

Posted: 24 Feb 2011 05:38 PM PST

The IRS announced new rules intended to make it easier for struggling taxpayers to cope with tax debts.

Crude Retreats; Officials Say Oil Stockpiles Adequate

Posted: 24 Feb 2011 03:40 PM PST

Crude futures retreated from a 2½-year high as U.S. and other officials said current oil stockpiles were adequate to meet any supply disruptions.

Volvo Plans Investments

Posted: 24 Feb 2011 05:08 PM PST

Volvo expects to invest $10 billion to $11 billion world-wide over the next five years as part of a new strategic plan following its acquisition last year by China's Geely.

Wells Fargo CEO Awarded $766,676 in Restricted Stock

Posted: 24 Feb 2011 12:55 PM PST

Wells Fargo awarded its CEO, John Stumpf, 24,432 restricted-share rights worth $766,676 for 2010, according to a filing. Finance chief Timothy Sloan was awarded 22,839 restricted-share rights worth $716,688.

U.K. Deepwater Drilling Challenged

Posted: 24 Feb 2011 01:16 PM PST

A High Court judge in the U.K. has decided to hear a legal challenge to the British government's decision to allow new deepwater drilling in British waters, potentially hampering efforts by international energy companies to explore for oil in the U.K. North Sea.

AIG Looks to Return to Normalcy

Posted: 24 Feb 2011 01:13 PM PST

As AIG re-engages with Wall Street analysts this week, it will likely try to convince them why its future performance is in line with industry norms.

AOL Realigns Managers

Posted: 24 Feb 2011 03:34 PM PST

AOL made some management changes ahead of its integration of the Huffington Post, appointing Jon Brod as chief operating officer of the new Huffington group and saying David Eun would depart.

More U.K. Women Directors Sought

Posted: 24 Feb 2011 07:34 PM PST

A U.K. review of women in business recommended that FTSE 100 companies voluntarily double the number of women board members within four years—and warned that mandatory rules may be needed if no progress is made.