"Wallstreet" Reader

"Wallstreet" Reader

Asian Shares Fall; ANZ, Fairfax Warnings Hit Sydney Market

Posted: 02 May 2011 06:43 PM PDT

Asian stock markets were lower, with the Australian market losing ground on dour profit outlooks for ANZ Bank and Fairfax.

Rule Over Abuse of IPOs Is Delayed

Posted: 02 May 2011 04:47 PM PDT

A regulatory rule to prevent abuse of initial public offerings has been delayed, even as Wall Street gears up for a new round of Internet-company IPOs.

Banks Are Lending, But Not Enough

Posted: 02 May 2011 04:51 PM PDT

The willingness of banks to lend money to consumers rose more than it has in 17 years, but sluggish loan growth is weighing on a key measure of profitability.

Auto Maker Saab to Resume Production

Posted: 02 May 2011 11:27 AM PDT

Saab Automobile obtained a loan that would enable the cash-strapped Swedish auto maker to resume production halted last month after unpaid suppliers refused to ship components.

Stocks Start May With Slim Losses

Posted: 02 May 2011 03:12 PM PDT

U.S. stocks kicked off May with slim losses, as the energy sector followed the price of oil lower and investors couldn't sustain a morning rally that followed the death of Osama bin Laden..

Dollar Resumes Slide vs. Euro

Posted: 02 May 2011 03:55 PM PDT

The killing of Osama bin Laden could be a "watershed moment" in the long-running war on terror, but will likely be a wash for the sinking U.S. dollar. The euro topped $1.49 but pared gains in late trade.

Nasdaq, ICE Take NYSE Bid to Investors

Posted: 02 May 2011 04:49 PM PDT

Nasdaq OMX Group and ICE announced their intent to go hostile with their $11 billion takeover offer for NYSE Euronext.

Ex-Lawyer for Kenneth Starr Admits Role in Fraud

Posted: 02 May 2011 11:47 AM PDT

Jonathan Bristol, a one-time Winston & Strawn lawyer for ex-New York financial adviser Kenneth Starr admitted Monday to allowing proceeds from Mr. Starr's fraud to be shuttled through his escrow account.

Big Banks Sued Over Lender's Demise

Posted: 02 May 2011 04:37 PM PDT

The court-appointed trustee overseeing the liquidation of Thornburg Mortgage is suing some of Wall Street's biggest banks—including J.P. Morgan Chase, Citigroup and Goldman Sachs Group—for allegedly engaging in series of "collusive" and "predatory" schemes.

Health Issue Holds Up Galleon Deliberations

Posted: 02 May 2011 06:06 PM PDT

A judge suspended deliberations in the insider-trading trial of Galleon Group founder Raj Rajaratnam for a day because of a juror's medical issue, and the defendant himself was absent from court because of emergency surgery.

Community Health Raises Tenet Bid

Posted: 02 May 2011 06:15 PM PDT

Community Health boosted its hostile takeover offer for Tenet Healthcare by 20% to about $4.07 billion in cash.

Honda Halts Orders for Japanese Cars

Posted: 02 May 2011 11:50 AM PDT

Honda will stop taking orders for vehicles made in Japan until further notice and delayed the introduction of a restyled CR-V cross-over because of parts shortages stemming from the March earthquake.

Manufacturing Growth Slows

Posted: 02 May 2011 06:37 PM PDT

U.S. manufacturing slowed less than expected in April, according to the Institute for Supply Management, though rising costs remain a problem. Construction spending rose in March.

Arch to Buy International Coal

Posted: 02 May 2011 06:21 PM PDT

Arch Coal agreed to acquire International Coal Group for $3.4 billion, becoming the latest coal producer seeking to secure reserves and take advantage of rising prices in the red-hot international market for metallurgical coal used by steelmakers.

True Finns Won't Budge Over Bailout

Posted: 02 May 2011 06:40 AM PDT

True Finns Chairman Timo Soini reiterated he won't support the EU's bailout for debt-ridden Portugal and acknowledged that could mean the party doesn't form part of Finland's next government.

PPR to Buy Surfwear Maker Volcom

Posted: 02 May 2011 10:09 AM PDT

French luxury and retail group PPR said it is paying $608 million to buy California sportswear brand Volcom, which will dovetail with its Puma division.

Osama Death Strengthens Calls for Afghan Pullout

Posted: 02 May 2011 06:50 AM PDT

The death of Osama bin Laden is reinforcing calls for a quicker pullout of American troops from Afghanistan and strengthening pressure to end America's longest war by finding a political settlement with the resilient Taliban insurgency.

How Bin Laden Was Found

Posted: 02 May 2011 07:01 AM PDT

Years of work were involved in tracking down Osama bin Laden, the elusive al Qaeda leader and the architect of the Sept. 11, 2001 attacks.

After Long Pursuit, Teva Wins Cephalon

Posted: 02 May 2011 06:37 PM PDT

Teva Pharmaceutical struck a $6.8 billion deal to acquire Cephalon, trumping a hostile bid from Valeant Pharmaceuticals.

Japan Auto Sales Tumble 51% in April

Posted: 02 May 2011 10:01 AM PDT

New auto sales in Japan posted a record drop in April, as a parts shortage caused by the March 11 earthquake and tsunami cut into production of vehicles and reduced supplies to dealerships.