"Wallstreet" Reader

"Wallstreet" Reader

Asian Shares Drop on Oil, Libya

Posted: 01 Mar 2011 05:39 PM PST

Asian stock markets were sent lower by weakness in U.S. stocks and higher oil prices as the turmoil in Libya continued. The Nikkei was down 1.7%.

Carrefour Revamps Operations

Posted: 01 Mar 2011 04:48 PM PST

French retail giant Carrefour said its board approved plans to spin off its Dia discount chain and list 25% of its European property company in a bid to streamline the group.

Blockbuster Sale Plan Is Criticized

Posted: 01 Mar 2011 04:06 PM PST

Blockbuster creditors are balking at the retailer's plan to sell itself and are instead calling for the company's bankruptcy-reorganization case to be converted to a Chapter 7 liquidation if the sale plan isn't changed.

Both Sides Embrace Government-Waste Study

Posted: 01 Mar 2011 04:41 PM PST

House and Senate leaders of both parties promised to rein in government spending after examining a new report that detailed billions of dollars in duplicative federal programs.

Fed, FTC Call for Lenders to Share Credit Scores

Posted: 01 Mar 2011 03:58 PM PST

Free credit scores could be easier to obtain under a rule U.S. federal regulators proposed as part of the Dodd-Frank financial overhaul.

Pressure Spurred Bank Disclosures

Posted: 01 Mar 2011 05:57 PM PST

What forced Goldman and other banks to make new disclosures on possible legal losses? Regulatory pressure, as well as a desire to head off more-stringent accounting rules.

Madoff Trustee Seeks $2.1 Billion From Tremont

Posted: 01 Mar 2011 07:47 PM PST

Money-management firm Tremont Group and a group of funds it managed repeatedly ignored "red flags" that convicted Ponzi scheme operator Bernard Madoff's business could be a fraud, according to an amended lawsuit.

U.S. Charges Ex-UBS Banker in Tax-Evasion Case

Posted: 01 Mar 2011 04:43 PM PST

U.S. prosecutors charged a former UBS banker with helping up to 150 wealthy Americans evade their income taxes, according to a criminal complaint.

Boeing's 747 Loses an Ally

Posted: 01 Mar 2011 05:18 PM PST

Japan Airlines on Tuesday retired its last two Boeing 747s, becoming the latest carrier to give up the jumbo jets in favor of more fuel-efficient models.

J.P. Morgan Passes Goldman, Morgan Stanley as Top Energy Dealer

Posted: 01 Mar 2011 03:01 PM PST

J.P. Morgan Chase has vaulted to become the top energy dealer in the world's commodities markets, according to an industry report, surpassing Goldman Sachs and Morgan Stanley, thanks to spending billions on acquisitions.

Geithner Sees Mortgage System Risks

Posted: 01 Mar 2011 04:42 PM PST

Geithner warned that creating a U.S. mortgage system with less federal involvement could still put taxpayers at risk.

PG&E Shunned Safety Valves

Posted: 01 Mar 2011 05:00 PM PST

PG&E discouraged the use of automatic-shutoff valves on major natural-gas pipelines, according to a company memo released by federal safety investigators.

Record U.S. Natural-Gas Output Likely To Continue

Posted: 01 Mar 2011 04:59 PM PST

Domestic natural-gas production last year hit its highest level in almost 40 years, and 2011 will likely see another year of strong production. That means another year of subdued electricity prices and pressure on drillers' bottom lines.

San Francisco Fed Names Chief

Posted: 01 Mar 2011 01:00 PM PST

The Federal Reserve Bank of San Francisco has elevated its top economic researcher, John Williams, to serve as its president and chief executive officer.

Feds Accuse P&G Director

Posted: 01 Mar 2011 08:16 PM PST

The U.S. accused a former director of Goldman Sachs Group and Procter & Gamble of passing inside information about the two companies to a hedge-fund titan at a critical moment in American financial history.

Wis. Governor Seeks $4.2 Billion in Cuts

Posted: 01 Mar 2011 04:33 PM PST

Wisconsin Gov. Scott Walker proposed a two-year budget cutting more than $1.25 billion in state aid to schools and local governments, part of a broad proposed reduction in state spending of nearly 7%.

Fed Chief Discusses Exit From Stimulus

Posted: 01 Mar 2011 07:05 PM PST

Federal Reserve Chairman Ben Bernanke, after spending much of the past six months focusing on a central-bank effort to stimulate the economy, is turning his eyes toward an eventual exit from the program.

Enel Sets Carbon-Capture Investment

Posted: 01 Mar 2011 01:16 PM PST

Enel's new pilot carbon capture and storage, or CCS, plant will be used as a blueprint for a larger facility, a company official said, as the Italian firm moves forward with efforts to make coal-fired electricity compatible with European emission targets.

Gold Futures Settle at Record High

Posted: 01 Mar 2011 02:32 PM PST

Gold futures settled at an all-time high and silver neared a 31-year peak as Middle East unrest spread and inflation worries mounted.

U.S. Auto Sales Sizzle

Posted: 01 Mar 2011 03:37 PM PST

GM, Toyota and Nissan each reported substantial gains in U.S. sales in February, powering the U.S. auto industry to its strongest sales pace in nearly 18 months.