"Wallstreet" Reader

"Wallstreet" Reader

Wall Street, Banks Press to Shape Dodd-Frank Rules

Posted: 21 Apr 2011 06:17 PM PDT

The financial industry spent more to lobby Washington in the first quarter of this year than a year ago when Congress was writing sweeping financial-overhaul legislation, according to a Wall Street Journal review of lobbying reports released Thursday.

PG&E CEO Darbee to Step Down

Posted: 21 Apr 2011 06:00 PM PDT

PG&E said its chief executive will retire at the end of the month and it is conducting a search for a successor, a surprise change at a utility rocked by a series of setbacks.

BP Pledges $1 Billion to Restore Gulf

Posted: 21 Apr 2011 05:41 PM PDT

BP has agreed to provide $1 billion to help restore wildlife and habitats in the Gulf of Mexico as part of an agreement with the U.S. and Gulf Coast state governments.

Morgan Stanley Retools as Profit Drops

Posted: 21 Apr 2011 04:19 PM PDT

The Wall Street bank's first-quarter profit declined 45% as revenue slid and its joint venture with Mitsubishi UFJ weighed on results. The bank said a restructuring would boost its financial cushion.

No Place Like Home for Banks

Posted: 21 Apr 2011 05:28 PM PDT

Just a few years ago, banks in industrial states made ill-fated bets on piping hot markets in Florida and Nevada in search of growth. Now, they are finding it in their own gritty backyards.

AIG Tries to Sell Securities Based on Death-Bets

Posted: 21 Apr 2011 06:41 PM PDT

American International Group in recent weeks has sought to rally support among investors and credit-ratings firms for a controversial deal: the sale of securities backed by insurance policies on the lives of older people.

Dodgers' TV Money Spurs Selig

Posted: 21 Apr 2011 03:59 PM PDT

At the center of the controversy over Major League Baseball's takeover of the Los Angeles Dodgers is a battle over the team's television rights and how owner Frank McCourt planned to spend the money from the deal.

When Wiretapping Crosses the Line

Posted: 21 Apr 2011 04:39 PM PDT

U.S. officials have used secret wiretaps as a powerful weapon against cheaters on Wall Street. But recent insider-trading cases have raised fresh questions about when government surveillance crosses a line into unwarranted invasion of privacy.

Apple, Google Collect User Data

Posted: 21 Apr 2011 07:31 PM PDT

Apple's iPhones and Google's Android smartphones regularly transmit their locations back to Apple and Google—intensifying concerns over privacy and the widening trade in personal data.

Harman's Wife to Replace Him on Newsweek Daily Beast Board

Posted: 21 Apr 2011 03:58 PM PDT

Former Democratic Congresswoman Jane Harman will replace her late husband, Sidney, on the board of directors of the Newsweek Daily Beast Company, the company said on Thursday.

Tobacco Profits Feel Price Kick

Posted: 21 Apr 2011 06:16 PM PDT

U.S. tobacco companies' first quarter earnings are getting a boost from recent price increases but the year's outlook remains mixed as domestic sales volumes shrink.

Jury Rejects Mattel Claims to Bratz Dolls

Posted: 21 Apr 2011 05:36 PM PDT

A jury said Mattel doesn't own the Bratz doll franchise, and awarded it no damages in its copyright lawsuit against MGA Entertainment. MGA, meanwhile, won $88.5 million in a countersuit accusing Mattel of stealing trade secrets.

AT&T Says T-Mobile Deal Will Promote Competition

Posted: 21 Apr 2011 04:00 PM PDT

AT&T said in a filing with the FCC that its proposed $39 billion purchase of T-Moble USA will "promote, not diminish competition" in the U.S. wireless market. The deal requires FCC approval.

Gold Closes Above $1,500 for First Time

Posted: 21 Apr 2011 12:39 PM PDT

Gold futures on Thursday capped a milestone-studded week with settlement and intraday records as the dollar fell and investors sought the yellow metal ahead of a three-day weekend, closing above the $1,500 level for the first time.

French Bonuses Draw Fire

Posted: 21 Apr 2011 01:39 PM PDT

French President Nicolas Sarkozy's plan to force companies to give staff a bonus when they raise dividends is drawing fire from both businesses and unions.

US Airways Sues Sabre

Posted: 21 Apr 2011 12:50 PM PDT

US Airways Group Inc. is seeking hundreds of millions of dollars in damages from Sabre Holdings Corp. after launching an antitrust suit against the travel-services provider that intensifies the battle between airlines and distributors.

Microsoft to Boost Cash Pay

Posted: 21 Apr 2011 04:08 PM PDT

Microsoft plans to sweeten pay for its workers as the tech stalwart faces fierce competition for talent from Google, Facebook and other companies.

GE Profit Jumps 77%

Posted: 21 Apr 2011 03:54 PM PDT

General Electric's earnings soared 77%, lifted by marked improvement at its GE Capital financing arm and gains at most of its industrial units.

Citi's Pandit Reiterates Dividend Plan

Posted: 21 Apr 2011 11:17 AM PDT

Citigroup Chief Executive Pandit, speaking at the bank's annual meeting, said Citigroup is "eager" to return more capital to shareholders, "something we still expect to be able to do next year."

30-Year Fixed Mortgage Rate at 4.8%

Posted: 21 Apr 2011 11:05 AM PDT

Mortgage rates fell in the latest week for the first time in more than a month, with the average rate on 30-year fixed-rate mortgages falling to 4.8%, according to Freddie Mac's weekly survey of mortgage rates.