"Wallstreet" Reader

"Wallstreet" Reader

Asia Lower on Libya; Rate Cut Lifts NZ

Posted: 09 Mar 2011 06:56 PM PST

Asia was mostly lower as escalating fighting in Libya dented sentiment, while New Zealand got a lift from a preemptive rate cut.

Bill Would Put Curbs on Data Gathering

Posted: 09 Mar 2011 07:31 PM PST

Sens. McCain and Kerry are circulating proposed legislation to create an "online privacy bill of rights," a sign of bipartisan support for efforts to curb the Internet-tracking industry.

Korea Raises Interest Rates

Posted: 09 Mar 2011 07:05 PM PST

The Bank of Korea raised its benchmark interest rate for the second time this year, resuming its campaign to tame inflation.

AIG Moves to Protect $65 Billion in Tax-Loss Benefits

Posted: 09 Mar 2011 04:02 PM PST

American International Group is taking steps to protect nearly $65 billion in tax benefits, as the bailed-out insurer prepares to exit majority government ownership over the next two years.

Caesars Plans Non-Gambling Asia Hotels

Posted: 09 Mar 2011 05:11 PM PST

Caesars Entertainment, eager to set up shop in parts of Asia where gambling isn't allowed, plans for the first time to lend its brand names to hotels that don't have casinos.

Judge to Decide Blockbuster's Fate

Posted: 09 Mar 2011 05:13 PM PST

A federal bankruptcy judge is expected to rule on whether Blockbuster stays in business or is liquidated.

Inflation in Asia Strikes at Core

Posted: 09 Mar 2011 03:36 PM PST

Fears are growing that Asia's recent troubles with inflation could go deeper than initially expected as countries bump up against labor shortages and other problems commonly seen in times of too-fast growth.

HCA Prices IPO at $30 a Share

Posted: 09 Mar 2011 02:22 PM PST

Hospital operator HCA Holdings priced its initial public offering at the high end of its range of $30 a share Wednesday night, making it the largest-ever private-equity-backed IPO in the U.S.

EU Defends Stress Tests

Posted: 09 Mar 2011 06:34 PM PST

Europe's banking supervisor defended its proposals for a new round of bank "stress tests," saying criticism that the scrutiny isn't tough enough is based on "a few points out of context."

Renault to Yield in l'Affaire d'Espionnage

Posted: 09 Mar 2011 06:28 PM PST

Renault is prepared to exonerate the three managers fired for alleged corporate espionage, in what would be a major stand-down that could presage a change in the French auto maker's senior management.

Europe's Economic Divide Widens

Posted: 09 Mar 2011 12:39 PM PST

Europe's economic divide showed signs of widening further, as German industry powered the region's largest economy toward strong growth, while Portugal struggled to sell €1 billion ($1.39 billion) in government bonds and Greek unemployment jumped.

CME on Sidelines of NYSE Deal

Posted: 09 Mar 2011 04:02 PM PST

CME Group is losing interest in teaming up with Nasdaq OMX Group in a potential bid to break up NYSE Euronext's deal with Deutsche Börse.

Canadian Banks Unite Against TMX-LSE Tie-Up

Posted: 09 Mar 2011 12:13 PM PST

Pressure to block TMX Group's proposed merger with London Stock Exchange Group is mounting as some of Canada's biggest financial institutions prepare to mount a campaign to oppose the deal.

HSBC Curbs Bid to Serve Rich Clients

Posted: 09 Mar 2011 04:05 PM PST

HSBC will halt its push for new clients of HSBC Premier, its flagship banking service aimed at wealthy international clients, as it tackles company-wide cost overruns the bank flagged in its 2010 annual results last week.

The Top 50 Venture-Backed Companies

Posted: 09 Mar 2011 02:42 PM PST

The WSJ's annual ranking of 50 promising venture-capital backed companies shows investors are chasing after those that develop Web-based software and digital services. The No. 1: Castlight Health.

Lagardère Projects Profit Growth

Posted: 09 Mar 2011 11:07 AM PST

French media group Lagardère said it expects profits to bounce back in 2011, a year in which it aims to refocus its main media assets.

Morgan Stanley Plans Layoffs

Posted: 09 Mar 2011 11:24 AM PST

Morgan Stanley will lay off 200 to 300 trainees and lower-producing financial advisers in its brokerage joint venture, likely bringing the Smith Barney unit's work force to about 17,800 advisers.

Icahn Disputes Blockbuster Bondholder

Posted: 09 Mar 2011 11:04 AM PST

Investor Carl Icahn said that a disgruntled bondholder's request to block him from making a competing bid to acquire Blockbuster "lacks logic," although he stopped short of saying he would make a bid for the company.

Pressure Rises on Shale Gas

Posted: 09 Mar 2011 06:14 PM PST

Concerned about environmental damage, a pair of Canadian provinces have stepped up scrutiny of two unconventional means of extracting fossil fuels from the ground.

Lawyers Make First Pitches to Galleon Jurors

Posted: 09 Mar 2011 05:28 PM PST

Galleon Group founder Raj Rajaratnam used a "corrupt network" of consultants, company insiders and associates to obtain inside information, generating tens of millions of dollars in illicit profits, a U.S. prosecutor said.