"Wallstreet" Reader

"Wallstreet" Reader

EU Agrees on 'A Pact for the Euro'

Posted: 11 Mar 2011 06:47 PM PST

European leaders agreed on a program of long-term economic reforms to the 17-member euro zone, and authorized a beefing-up of the bloc's bailout fund for troubled countries.

U.S. Seizes Two Banks; Year's Total at 25

Posted: 11 Mar 2011 05:38 PM PST

U.S. regulators seized an Oklahoma bank, as well as a bank in Milwaukee that was a TARP recipient.

Google Doles Out Big Bonuses

Posted: 11 Mar 2011 03:59 PM PST

Google granted nearly $60 million in bonuses and stock awards to four senior executives, including business chief Nikesh Arora and engineering head Alan Eustace.

Renault Security Held in Spy Case

Posted: 11 Mar 2011 07:11 PM PST

French police on Friday arrested and were questioning two employees from Renault's security department about their actions during a troubled internal corporate espionage probe at the auto maker.

NFL Talks Collapse; Players Disband Union

Posted: 11 Mar 2011 07:03 PM PST

Talks between the National Football League and its players union collapsed Friday, with the union filing paperwork to disband and 10 players filing a lawsuit to block a lockout by owners.

China Wins WTO Case Against U.S.

Posted: 11 Mar 2011 01:26 PM PST

The World Trade Organization Friday handed an important victory to China, ruling that the U.S. illegally imposed both anti-dumping and anti-subsidy duties on some Chinese exports in 2007.

Selloff Fears Cloud Egypt's Market Open

Posted: 11 Mar 2011 06:28 PM PST

Small investors want the exchange to delay the opening until political stability is restored. Big investors say the closure is tarnishing Egypt's reputation.

Sahara Hotel in Las Vegas Closes Amid Losses

Posted: 11 Mar 2011 03:31 PM PST

The Sahara Hotel and Casino will be shuttered, marking a milestone in Las Vegas's ongoing recession as the first casino on the once-booming Las Vegas Strip to close during the recent downturn.

Nuclear Plants Release Radiation

Posted: 11 Mar 2011 07:31 PM PST

Radiation leaked from one of Japan's nuclear-power plants after the quake caused a power outage that disabled its cooling system, and new problems were reported at another plant nearby.

Crude Ends Lower

Posted: 11 Mar 2011 12:31 PM PST

Crude futures settled around $101 a barrel on the Nymex amid expectations that demand would drop after an earthquake in Japan, the world's third-largest oil consumer.

Tsunami Travels Across Pacific

Posted: 11 Mar 2011 10:21 AM PST

Nations across the Pacific Ocean watched nervously as a tsunami traveled quickly across the ocean, but early reports provided hope that there might be only a mild impact for regions ranging from New Zealand to Hawaii.

AIG to Name Two New Directors

Posted: 11 Mar 2011 04:56 PM PST

AIG is planning to name two additional directors to its board, John H. Fitzpatrick and W. Don Cornwell.

Glaxo's BTG Drug Fails to Pass Trial

Posted: 11 Mar 2011 08:23 AM PST

GlaxoSmithKline and its U.S. partner Tolerx said their experimental drug otelixizumab failed to pass a late-stage clinical trial for Type 1 diabetes.

Stocks Push Higher

Posted: 11 Mar 2011 06:39 PM PST

The Dow industrials rose 0.5% to 12044.40 despite a major earthquake in Japan. 3M and Caterpillar led gains as investors bet that the companies might benefit from rebuilding efforts. But the market posted a weekly drop.

Nokia Pays Elop More Than $6 Million to Join

Posted: 11 Mar 2011 09:10 AM PST

Nokia will pay new Chief Executive Stephen Elop a more than $6 million signing bonus for joining the world's largest handset maker, according to documents filed Friday.

China Emphasizes Rates' Role in Inflation Fight

Posted: 11 Mar 2011 06:26 PM PST

China's central-bank governor emphasized the importance of interest rates in fighting inflation, fueling expectations for further tightening after data showed consumer prices continued to rise at a rapid pace last month.

Retail Sales Rise but Oil Casts Cloud

Posted: 11 Mar 2011 06:34 PM PST

Retail sales jumped in February as consumers stepped up spending after the January snowstorms, but a sharp drop in consumer sentiment underscored the threat to the economic recovery posed by rising oil prices.

Chevron to Sell Refinery to Valero

Posted: 11 Mar 2011 04:39 PM PST

Chevron agreed to sell a U.K. refinery and other assets to Valero for $730 million. Valero also will pay about $1 billion for inventory and other items.

Portugal Vows More Budget Cuts

Posted: 11 Mar 2011 06:12 AM PST

Portugal's government pledged a fresh batch of measures to reduce spending and boost revenue, amid growing fears that its high borrowing costs may soon force it to seek a bailout.

Sberbank to Buy Troika Dialog

Posted: 11 Mar 2011 09:20 AM PST

Sberbank, Russia's biggest bank, will purchase the country's oldest investment bank, Troika Dialog, for $1 billion in cash and a possible future payment that depends on the investment bank's results.