"Wallstreet" Reader

"Wallstreet" Reader

Strong U.S. Earnings Buoy Tech Shares in Asia

Posted: 19 Apr 2011 07:31 PM PDT

Asian stock markets rose Wednesday, as Wall Street's gains on the back of strong U.S. earnings reports from the likes of Intel buoyed tech shares in Tokyo and Seoul.

Facebook Seeks Friends in Beltway

Posted: 19 Apr 2011 07:15 PM PDT

Facebook is still trying to find a path to Washington, where the company has only a fledgling lobbying operation, though it finds its privacy policies under scrutiny and is trying to navigate expansion into China.

Russia's Army Fights Losing Battle to Reform Itself

Posted: 19 Apr 2011 07:48 PM PDT

Russia has abandoned an effort to transform its army by creating combat-ready units staffed by professional soldiers, not draftees, posing problems for the Kremlin.

BHP's Iron Ore Output Rises, But Floods Hit Coal

Posted: 19 Apr 2011 05:50 PM PDT

BHP Billiton managed to boost iron ore production in the first quarter despite seasonal tropical cyclones in west Australia, but said its coking coal operations continue to be hampered by the monsoon rains.

Jury Convicts Executive in Mortgage Fraud Case

Posted: 19 Apr 2011 06:42 PM PDT

Lee Farkas, the former chairman of Taylor, Bean and Whitaker Mortgage, was found guilty on all 14 charges stemming from a seven-year, multibillion dollar fraud scheme that led to the collapse of his firm and Colonial Bank.

Dollars Flow Back Into Tech Hardware

Posted: 19 Apr 2011 07:33 PM PDT

IBM and Intel, two of the world's largest tech companies, reported a surprising surge in sales and profits in the first quarter, and signaled brighter days ahead for the industry.

Austerity Chills Ardor for Muni Debt

Posted: 19 Apr 2011 07:34 PM PDT

For many cities and states, the love affair with debt has cooled, as governments cut back on spending and borrowing comes under attack from some taxpayers.

Unlocking the Loan Puzzle

Posted: 19 Apr 2011 04:23 PM PDT

Banks say they want to lend but there is little loan demand. Borrowers say they can't get one. The experiences of one upstate New York banker give a clue to how both statements can be true.

Airline Net Hits a Downdraft

Posted: 19 Apr 2011 04:36 PM PDT

The first quarter was particularly unforgiving for U.S. airlines. Winter storms forced tens of thousands of flight cancellations, jet fuel prices soared from a year ago, and last month's earthquake in Japan weakened demand for travel to Asia.

Italian Choice for ECB Gains Favor

Posted: 19 Apr 2011 06:12 PM PDT

German finance officials are warming to the candidacy of Mario Draghi for the presidency of the European Central Bank, potentially removing a major hurdle to the Italian's ascendancy to one of the world's most important central-banking jobs.

NRG Drops Plan for Texas Reactors

Posted: 19 Apr 2011 05:45 PM PDT

NRG Energy said it will drop its plans to build two nuclear reactors in Texas. The announcement is the most tangible evidence, to date, of fallout in the U.S. from the nuclear accident in Japan.

Taco Bell Plans Spin as Critic Drops Suit

Posted: 19 Apr 2011 07:09 PM PDT

Taco Bell said the law firm that had filed suit against the Mexican fast-food chain, alleging its ground beef contained little beef, has withdrawn the litigation.

Intel Profit, Revenue Surge

Posted: 19 Apr 2011 01:42 PM PDT

Intel's earnings rose 29%, as the chip-making giant's revenue jumped 25% amid strong server demand from business customers. Shares rallied after-hours.

IBM's Profit Rises 10%

Posted: 19 Apr 2011 01:35 PM PDT

IBM's quarterly earnings rose 10%, as the technology giant posted improved margins and its best quarterly revenue growth in a decade. Revenue rose 7.7%.

France Mulls Banning Shale Exploration

Posted: 19 Apr 2011 12:33 PM PDT

The French government is considering banning shale exploration in the country—a first in Europe—amid growing concern over the environmental impact of drilling for shale gas and oil.

Toyota Extends Production Cutbacks

Posted: 19 Apr 2011 04:35 PM PDT

Toyota will extend North American production cutbacks through June 3 to preserve parts. Also Tuesday, Toyota showed off a new Lexus prototype sedan with a large "spindle" shaped grill, low-slung rear and muscular bumps on the hood, a divergence from the designs it's had since about 2001.

U.K. to Send Military Advisers to Libya

Posted: 19 Apr 2011 01:22 PM PDT

Britain said it would send senior military officials to Libya to advise opposition rebels, a sign that Western nations are expanding their military assistance in the war-torn country.

Low Rates Pressure Trust Banks

Posted: 19 Apr 2011 03:38 PM PDT

Bank of New York Mellon, State Street and Northern Trust reported improving revenue in the first quarter, but low interest rates continued to keep the three from turning top-line growth into similar bottom-line expansion.

Motorola Delays Launch of Droid Bionic

Posted: 19 Apr 2011 12:51 PM PDT

Motorola will delay the launch of its first 4G smartphone, the Droid Bionic, to make changes to the device, which was slated for Verizon Wireless.

In Sports Push, NBCU Signs NHL Deal

Posted: 19 Apr 2011 05:22 PM PDT

Making official its anticipated push to take on industry giant ESPN, Comcast struck a nearly $2 billion rights deal with the NHL and said it plans to relaunch its sports network Versus in a bid to transform the network into a top destination for sports fans and advertisers.