"Wallstreet" Reader

"Wallstreet" Reader

Mortgage-Practices Overhaul Proposed

Posted: 04 Mar 2011 05:47 PM PST

State and federal officials are pushing for changes in the way banks and other mortgage servicers treat struggling homeowners in a bid to stem foreclosures.

GOP to Target Foreclosure-Prevention Programs

Posted: 04 Mar 2011 04:06 PM PST

House Republicans next week will try to dismantle the Obama administration's efforts to stabilize the U.S. housing market.

St. Joe Names Durden Acting CEO

Posted: 04 Mar 2011 04:01 PM PST

A board shake-up at St. Joe put former chairman Hugh M. Durden at the helm of the large Florida real-estate developer, while investor Bruce R. Berkowitz has assumed the position of chairman.

Prosecutor: Gupta in Galleon Conspiracy

Posted: 04 Mar 2011 03:25 PM PST

A federal prosecutor on Friday alleged that Rajat Gupta, a former Goldman Sachs director, was part of an insider-trading conspiracy with Galleon Group founder Raj Rajaratnam.

Google Cranks Up M&A Machine

Posted: 04 Mar 2011 07:30 PM PST

Google's mergers and acquisitions chief said he plans to be aggressive this year, despite challenges that include soaring valuations for some Web start-ups.

AmEx Teams Up With Foursquare

Posted: 04 Mar 2011 03:17 PM PST

American Express struck a deal to offer discounts to shoppers via Foursquare Labs, a start-up that lets users win prizes and meet people by using their mobile phones to "check in" at their favorite bars, restaurants and stores.

Mexico Keeps Rates Steady

Posted: 04 Mar 2011 01:04 PM PST

The Bank of Mexico left its overnight lending target unchanged Friday citing moderating inflationary pressures, though it highlighted a wider array of potential risks to prices and growth than in previous statements.

Nigerian Firms Compete for Shell Property Sales

Posted: 04 Mar 2011 12:23 PM PST

Royal Dutch Shell is close to selling four of its onshore oil blocks in Nigeria to local bidders eager to break into the industry as unrest in North Africa and the Middle East boosts global crude prices.

NFL, Union Extend Talks

Posted: 04 Mar 2011 12:32 PM PST

The NFL and its players union have agreed to extend their Collective Bargaining agreement by seven days.

RIM Loses Marketing Chief

Posted: 04 Mar 2011 05:50 PM PST

BlackBerry maker Research In Motion said its chief marketing officer Keith Pardy has decided to leave the company for personal reasons.

Parts Plant Fire Hits Auto Production

Posted: 04 Mar 2011 10:30 AM PST

Auto parts maker Magna International is scrambling to limit customers' production shutdowns after a fire damaged a Michigan plant that makes dashboards for major auto makers.

BP Cleared in Atlantis Probe

Posted: 04 Mar 2011 12:10 PM PST

U.S. investigators said problems with engineering documents on BP's Atlantis platform in the Gulf of Mexico didn't pose a safety risk and said the company wouldn't face civil penalties.

Zara Owner Pays Up for Retail Space

Posted: 04 Mar 2011 11:50 AM PST

Cheap chic retailer Inditex Group agreed to pay $400 million for a space on Fifth Avenue in Manhattan to house a Zara store, one of the largest such deals in the city's history.

Stocks Fall, but Up for the Week

Posted: 04 Mar 2011 07:35 PM PST

Worries about the potential impact of oil's climb above $100 a barrel sent U.S. stocks lower, but came short of wiping out gains recorded earlier in the week.

Crude at 2½-Year High

Posted: 04 Mar 2011 01:43 PM PST

Crude-oil futures touched $104 a barrel on reports of fighting near Libya's oil facilities.

U.K. Deals Blow to Drug Makers

Posted: 04 Mar 2011 08:08 AM PST

Britain's cost watchdog said it will not recommend Roche's blockbuster eye care medicine Lucentis as a treatment for diabetic macular oedema, adding fresh controversy over the expensive drug which is sold in Europe by Novartis.

Jobless Rate Falls Further

Posted: 04 Mar 2011 07:21 PM PST

Brisk hiring in February pushed the U.S. unemployment rate below 9% for the first time in nearly two years—a development that reflects a broadening recovery but also underscores how much ground the economy has yet to regain.

Nespresso Rival Wins in Court

Posted: 04 Mar 2011 06:00 PM PST

A Swiss court withdrew a ban on a rival coffee capsule to Nestle's Nespresso single-serve coffee brand, in a move that could open the market to other competitors.

Job Growth: A Public-Private Partnership

Posted: 04 Mar 2011 05:06 AM PST

The U.S. labor market is in the midst of a sea change.

China Strengthens Military Budget

Posted: 04 Mar 2011 06:09 AM PST

China plans to increase its defense budget by 12.7% this year, a pickup from last year's sharply slower growth that comes amid amid fresh confrontations over territorial issues with Japan, South Korea and the Philippines.