"Wallstreet" Reader

"Wallstreet" Reader

Google Reorders Web's Winners

Posted: 02 Mar 2011 05:38 PM PST

Google is creating a new set of winners and losers on the Web following its move to punish sites that it believed offered little useful information yet still ranked high in its search results.

Galliano Issues Apology for Rant

Posted: 02 Mar 2011 07:09 PM PST

Fashion designer John Galliano released a statement apologizing for behavior that led to his firing from Dior.

Most Asian Shares Up; Oil Tempers Demand

Posted: 02 Mar 2011 07:18 PM PST

Asian stock markets were mostly higher as many investors took the opportunity to buy into beaten down stocks, but the turmoil in the Middle East and the surge in oil prices continued to temper demand. The Nikkei was up 0.4%.

Mets Owners Threatened With More Charges

Posted: 02 Mar 2011 06:16 PM PST

The owners of the New York Mets, who face a $1 billion lawsuit related to withdrawals they made from Bernard Madoff's investment firm, are expected to face additional allegations if they fail to reach a settlement.

News Corp. Offers to Spin Off Sky

Posted: 02 Mar 2011 06:01 PM PST

News Corp. has proposed to spin off the Sky News channel from BSkyB, hoping to persuade British regulators to approve its attempted purchase of the pay-TV operator.

Pork Industry to Unveil New Campaign

Posted: 02 Mar 2011 05:24 PM PST

The U.S. pork industry is sidelining its long-held marketing campaign: "Pork—the Other White Meat"— in favor of a new branding effort as the sector seeks to capture a greater share of consumer spending in the shrinking domestic meat market.

Severstal Unloads Three Mills

Posted: 02 Mar 2011 05:19 PM PST

Russian steelmaker Severstal agreed to sell three of its five U.S.-based steel plants to Renco Group, unloading—at a loss—assets acquired in a poorly timed 2008 deal to expand its U.S. presence.

China to Buy U.S. Plane Maker

Posted: 02 Mar 2011 05:07 PM PST

The Chinese state-run company behind the country's stealth fighter agreed to buy Minnesota-based private-aircraft maker Cirrus, a small deal that nonetheless illustrates the expanding ambition of China's aerospace industry.

Hedge Funds Scramble as Rivals Exit

Posted: 02 Mar 2011 07:53 PM PST

Moves by two hedge funds that bet on or against stocks to return money to investors are creating opportunity for rivals.

Sprint Near Deal With Clearwire

Posted: 02 Mar 2011 05:38 PM PST

Sprint CEO Hesse said he expects to resolve a pricing dispute with partner Clearwire that has threatened the carriers' relationship.

For Muni-Bond Market, Calm After Storm

Posted: 02 Mar 2011 07:36 PM PST

The battles roiling state capitals are being largely ignored by the municipal-bond market, which has been coasting through a period of relative calm after a selloff late last year spooked investors and led to tens of billions of dollars of redemptions from municipal-bond funds.

Santander Weighs Joint Bid for Citi Unit

Posted: 02 Mar 2011 05:26 PM PST

The Spanish bank is considering teaming up on a offer with Warburg Pincus for CitiFinancial.

Oil Settles Above $102

Posted: 02 Mar 2011 05:31 PM PST

Crude futures settled above $100 a barrel for the first time in more than two years, and gold hit an all-time high, as heavy fighting in Libya spurred worries about oil supplies and inflation.

Oil Settles Above $102

Posted: 02 Mar 2011 01:16 PM PST

Oil futures settled above $100 a barrel for the first time in more than two years, lifted by fighting in Libya and worries of oil-supply disruptions.

Toronto, London Exchanges Defend Merger

Posted: 02 Mar 2011 12:42 PM PST

TMX's chief said the Toronto exchange operator would remain distinctly Canadian after a merger with London Stock Exchange, as top brass for TMX and LSE defended their deal plan at a hearing in Toronto.

Cargill Takes Near-Record Sugar Delivery

Posted: 02 Mar 2011 12:22 PM PST

Cargill Inc. said it bought the nearly record delivery of one million metric tons of raw sugar delivered from IntercontinentalExchange. The delivery amid high prices for sugar echoes concerns about tight supplies this season.

Gold Hits Another Record

Posted: 02 Mar 2011 12:55 PM PST

Gold futures settled at a record high for the second consecutive session and silver posted a fresh 30-year peak amid worries about inflation persisted and Mideast unrest.

Jobs Unveils Apple's iPad 2

Posted: 02 Mar 2011 07:27 PM PST

Apple CEO Steve Jobs surprised a crowd of fans by taking the stage to unveil the next version of his company's iPad tablet. The iPad 2, which has two cameras, will start at $499 and go on sale March 11.

Beige Book Notes Modest Growth

Posted: 02 Mar 2011 02:28 PM PST

The U.S. economy grew moderately in early 2011 and the weak jobs market improved, while businesses reported rising costs, the Fed said.

Sony Music Recruits CEO

Posted: 02 Mar 2011 07:33 PM PST

Sony Music Entertainment has recruited Doug Morris, a longtime executive of Universal Music Group, to become its new CEO, a move is likely to touch off other industry changes.