"Wallstreet" Reader

"Wallstreet" Reader

Aurelius Wages Legal Attack on EFH

Posted: 25 Feb 2011 07:15 PM PST

Activist hedge fund Aurelius Capital Management, known for its litigation-prone style of distressed investing, has found a new target: Energy Future Holdings.

PG&E Faces Fines in Pipeline Probe

Posted: 25 Feb 2011 03:22 PM PST

California regulators are planning to impose hefty monetary penalties on PG&E Corp. if they find the utility didn't keep accurate records on its 48,000-mile natural-gas pipeline system in Northern California.

Furniture Brands Officials Bet on Recovery

Posted: 25 Feb 2011 03:19 PM PST

Furniture Brands has been racked with problems in recent years, but a new cluster of buying by top executives may signal they believe the worst is behind the company and its stock.

Petrobras Profit Rises 38%

Posted: 25 Feb 2011 03:16 PM PST

Petrobras said its fourth-quarter profit rose 38% from a year earlier as higher international oil prices and climbing crude-oil production offset flat domestic fuel prices.

Moody's Executive to Quit

Posted: 25 Feb 2011 05:49 PM PST

Yuri Yoshizawa, a senior executive at Moody's Investors Service who oversaw its credit ratings of collateralized debt obligations during the financial crisis, plans to leave the firm.

Google Revamps to Fight Cheaters

Posted: 25 Feb 2011 05:19 PM PST

Google, long considered the gold standard of Internet search, is changing the secret formula it uses to rank Web pages as it struggles to combat websites that have been able to game its system.

Taliban Scramble to Stem PR Fallout

Posted: 25 Feb 2011 02:25 PM PST

After recent suicide attacks that killed scores of Afghan civilians, the Taliban leadership has launched an internal investigation, and some commanders now blame an autonomous radical faction.

Tobacco Firms Sue FDA

Posted: 25 Feb 2011 02:54 PM PST

Lorillard and R.J. Reynolds have sued to stop the Food and Drug Administration from receiving or relying on recommendations from its tobacco-products advisory committee.

Facebook to Simplify Privacy Policy

Posted: 25 Feb 2011 02:00 PM PST

Facebook is working to revamp its privacy policy to make it easier for users to understand by taking out some of the legalese.

Chrysler's CEO Received No Salary

Posted: 25 Feb 2011 12:48 PM PST

Chrysler Group CEO Sergio Marchionne received no salary for running the Auburn Hills, Mich., auto maker last year.

CNN Gives Spitzer New Partners

Posted: 25 Feb 2011 12:46 PM PST

CNN is changing the name of its "Parker Spitzer" nightly program to "In The Arena" and dropping co-host Kathleen Parker.

Prayer, Then a Hail of Bullets

Posted: 25 Feb 2011 04:06 PM PST

Tripoli's antiregime protesters reached a roundabout in the Souq al-Jouma'a neighborhood, raised Libya's pre-Gadhafi flag and were met by machine-gun fire, according to several witnesses, as pro-Gadhafi forces violently put down demonstrations across the capital.

Lawmakers Jostle on Spending Cuts

Posted: 25 Feb 2011 01:58 PM PST

House Republican leaders said that the $4 billion in cuts included in a stop-gap budget bill would come from savings that Democrats had previously endorsed, a move they hope will make it harder for Senate Democrats to reject the measure.

Plug Pulled on Sheen Sitcom

Posted: 25 Feb 2011 02:18 PM PST

CBS and Warner Bros. pulled the plug on TV's No. 1 prime-time sitcom, "Two and a Half Men," in the midst of its eighth season after its erratic lead actor, Charlie Sheen, gave a rambling, incendiary interview.

ISE to Launch Controversial Options Orders

Posted: 25 Feb 2011 11:05 AM PST

The International Securities Exchange next week will introduce a long-planned service for trading options contracts that has ignited controversy among rival options exchanges.

Fiat Submits Plan for Russian Auto Venture

Posted: 25 Feb 2011 02:24 PM PST

Fiat submitted a plan under which it would make up 300,000 vehicles a year in Russia under the Fiat and Jeep brands.

Groupon Revenue Hit $760 Million in 2010

Posted: 25 Feb 2011 11:48 AM PST

Daily deals website Groupon saw its revenue surge to $760 million last year from $33 million the previous year, with more than a third of its 2010 sales coming from outside the U.S., according to an internal memo.

Losses Pressure T-Mobile to Strike Network Deal

Posted: 25 Feb 2011 09:33 AM PST

Wireless phone operator T-Moble USA is coming under growing pressure to bolster its network through a partnership or acquisition as customer losses continue.

Economic Growth Revised to 2.8%

Posted: 25 Feb 2011 03:59 PM PST

The U.S. economy grew at a 2.8% rate in the fourth quarter, slower than the initial 3.2% reading. Economists expected GDP to be revised up.

Countrywide Pact Rejected

Posted: 25 Feb 2011 09:54 AM PST

Several large institutional investors, including BlackRock and Calpers, rejected a court settlement where Countrywide agreed to pay $600 million to a number of national pension funds.