"Wallstreet" Reader

"Wallstreet" Reader

House GOP Summoned to Meet

Posted: 08 Apr 2011 06:51 PM PDT

House Republican lawmakers were summoned to the U.S. Capitol Friday night, a senior member of the party said, as he emerged from Boehner's office.

Regulators Shut Two More Banks

Posted: 08 Apr 2011 05:42 PM PDT

U.S. regulators announced the failures of two banks, in Nevada and Illinois, bringing the total number of failures this year to 28.

Up Next: Battle on the Debt Ceiling

Posted: 08 Apr 2011 04:48 PM PDT

The brawl in Washington over how to fund the government through September has served as a dry run for looming fights with higher stakes, particularly the debate over whether to raise the limit on how much the government can borrow.

SEC Boots Up for Internet Age

Posted: 08 Apr 2011 07:14 PM PDT

Regulators are weighing demands to make it easier for fast-growing companies to use social networks to raise money by tapping thousands of investors for very small amounts of shares.

Farm Subsidies: Sacred Cows No More

Posted: 08 Apr 2011 04:48 PM PDT

The hunt for cuts has come to this: Even agriculture subsidies—billions in spending both parties have embraced for years—are on the table.

Inflation Drives Shift in Markets

Posted: 08 Apr 2011 07:22 PM PDT

After being pushed and pulled this year by tumult in the Middle East, the quake in Japan and the debt crisis in Europe, the world's currencies are increasingly being driven by economic fundamentals.

Mosaic CEO Steers Plow Solo

Posted: 08 Apr 2011 04:14 PM PDT

James T. Prokopanko, chief of Mosaic, is hoping to reap the benefits of high crop prices as he guides the fertilizer giant to greater independence after the withdrawal of its majority shareholder.

J&J Settlement in Bribery Case

Posted: 08 Apr 2011 03:54 PM PDT

Johnson & Johnson agreed to pay $70 million to settle U.S. and U.K. allegations that it paid bribes to doctors in three European countries, as well as kickbacks to Iraq to illegally obtain business under former leader Saddam Hussein.

Treasury's Massad Is Likely to Be Next TARP Overseer

Posted: 08 Apr 2011 03:39 PM PDT

The White House is expected to nominate Timothy Massad as Treasury Department assistant secretary for financial stability, placing him in charge of managing the government's Troubled Asset Relief Program investments.

News Corp. May Cut More Myspace Jobs

Posted: 08 Apr 2011 03:32 PM PDT

Myspace might lay off more employees in conjunction with a deal to sell the social media site, which has had talks with China's Tencent, music-video site Vevo and others.

Obama's Budget Aim: To Rise Above Fray

Posted: 08 Apr 2011 04:45 PM PDT

Obama didn't address the issue of the possible government shutdown until Tuesday, three days before the deadline. But his hands-off strategy carries risk. It could alienate Democrats.

Big Tech Firms Fatten Dividends

Posted: 08 Apr 2011 05:36 PM PDT

H-P, Cisco and other tech giants are signaling—by sharing more of their cash with investors—they may not return to the rocket-like growth of years past.

Shutdown to Take Days, Not Hours

Posted: 08 Apr 2011 04:25 PM PDT

It would take hours and in some cases days to put to bed all the nonessential government functions caused by the budget breakdown.

U.S. Trustee Objects to Borders's Bonus Plan

Posted: 08 Apr 2011 01:01 PM PDT

The Office of the U.S. Trustee is objecting to Borders Group Inc.'s attempt to pay executives and other high-level employees more than $8 million in bonuses, calling it a "disguised retention plan for insiders" that shouldn't be approved this early in the case.

Beijing Considers New Hub for Yuan

Posted: 08 Apr 2011 04:12 PM PDT

An expansion of yuan trading into Singapore could help Beijing advance its goal of turning the Chinese currency into one that can be used for cross-border trade and investment.

Toyota Curtailing North American Output

Posted: 08 Apr 2011 01:56 PM PDT

Toyota will operate its 13 North American plants on a shortened work week starting next week to avoid running out of scarce made-in-Japan parts.

Protests Erupt in Syria Despite Overtures

Posted: 08 Apr 2011 12:22 PM PDT

Syrian security forces opened fire on tens of thousands of protesters across several cities Friday, killing at least 20 people, wounding hundreds and forcing residents to turn mosques into makeshift hospitals.

Budget Showdown Redux

Posted: 08 Apr 2011 11:23 AM PDT

Sixteen years ago, a budget face-off pitted newly emboldened House Republicans against a Democratic White House and triggered a government shutdown.

Galleon Lawyers Reveal Strategy

Posted: 08 Apr 2011 07:00 PM PDT

A preview into Galleon founder Rajaratnam's defense against insider trading emerged as his lawyers revealed their first witnesses and a judge brushed aside prosecutors' objections to a securities expert's testimony.

Corning, Sharp Diverge on LCD Plans After Japan Quake

Posted: 08 Apr 2011 11:48 AM PDT

Corning said it plans to maintain production levels at two glass factories in Japan even as Sharp—the main customer of those plants—is reducing its LCD output because of the March 11 quake.