"Wallstreet" Reader

"Wallstreet" Reader

Shrinking Oil Supplies Put Alaskan Pipeline at Risk

Posted: 10 May 2011 07:55 PM PDT

The Trans Alaska Pipeline, which still delivers more than 11% of the oil produced in the U.S., is under threat as oil production along Alaska's northern edge dwindles.

AIG Stock Offering Smaller Than Expected

Posted: 10 May 2011 08:00 PM PDT

American International Group and the Treasury decided to move ahead with a stock offering this month for about $9 billion, far less than what officials had once hoped to fetch, people familiar with the decision said.

President to Renew Muslim Outreach

Posted: 10 May 2011 07:58 PM PDT

President Obama is preparing a fresh outreach to the Muslim world in coming days, one that will ask those in the Middle East and beyond to reject Islamic militancy in the wake of Osama bin Laden's death and embrace a new era of relations with the U.S.

Facebook Security Flaw Exposed User Accounts

Posted: 10 May 2011 04:40 PM PDT

A security vulnerability on Facebook for years gave advertisers and other third parties a way to access users' accounts and personal information, according to security firm Symantec.

Asia Rises; Weaker Yen Supports Tokyo, Focus on China Data

Posted: 10 May 2011 07:45 PM PDT

Asian stock markets were higher after Wall Street's rise, with shares in Tokyo getting a boost from easing supply-chain concerns and a weaker yen.

GM Bets Big on Rural China Markets

Posted: 10 May 2011 05:24 PM PDT

General Motors is revamping its China strategy, shifting its focus inland to rural markets where demand for no-frills cars and microvans is key to achieving its goal of doubling its annual vehicle sales in China.

Banks Offer $5 Billion for Mortgage Claims

Posted: 10 May 2011 06:56 PM PDT

The nation's biggest banks are willing to pay as much as $5 billion to settle claims by federal and state officials of "robo-signing" and other improper mortgage-servicing practices.

Galleon Deliberations Stretch On

Posted: 10 May 2011 04:32 PM PDT

Jurors gave no signs of being any closer to a verdict on Tuesday in the insider-trading trial of hedge-fund manager Raj Rajaratnam.

Buyer Beware: RBC Bank on Block

Posted: 10 May 2011 04:58 PM PDT

Royal Bank of Canada has attracted prospective bidders for its U.S. operations despite RBC Bank's raft of problems. The unit is expected to fetch roughly $3 billion.

Red Roof Inn Still a Deal

Posted: 10 May 2011 04:22 PM PDT

Nearly two years after a group of investors ran into trouble on its 2007 purchase of Red Roof Inn chain, opportunistic investors are scooping up the no-frills hotels at big discounts.

Disney Hurt by Studio Division

Posted: 10 May 2011 06:00 PM PDT

Disney's quarterly profit slid 1.2% as the media giant reported higher advertising revenue but weak results in the studio entertainment division.

ISS Urges Vote Against Exxon Executive Pay Plan

Posted: 10 May 2011 03:31 PM PDT

An influential proxy advisory firm is recommending investors vote against Exxon Mobil's Corp.'s compensation plan for its top executives, saying total shareholder return has underperformed other large companies over the last three years.

Jury Convicts in Business Bribery Case

Posted: 10 May 2011 02:11 PM PDT

A U.S. jury convicted a California manufacturer, two of its executives and a Mexican sales agent, marking a first in a foreign bribery case.

J&J Books Reserve in Risperdal Probe

Posted: 10 May 2011 07:17 PM PDT

J&J set aside an unspecified amount of money toward a potential settlement of a U.S. government probe of allegations the company illegally promoted the antipsychotic Risperdal for unauthorized uses.

Spain Weighs Wider Use of 'Bad Banks' for Cajas

Posted: 10 May 2011 05:01 PM PDT

With Spain's troubled savings banks struggling to attract badly needed private investment, the Bank of Spain is edging toward a variation on the "bad bank" model, using Banco Financiero y de Ahorros as a guide.

Shell's Hopes Raised on Arctic Drill Permits

Posted: 10 May 2011 07:36 PM PDT

The White House is ratcheting up its involvement in a looming decision on whether to grant Royal Dutch Shell permission to drill for oil off the coast of Alaska, raising the company's hopes that it can secure the necessary permits for an expensive and controversial project.

Xerox Seeks Faster Services Growth

Posted: 10 May 2011 03:57 PM PDT

Xerox is aiming for faster growth in its services business, even though services command thinner margins than its traditional hardware line.

Offshore Wind-Farm Builder May Tap Bond Market

Posted: 10 May 2011 10:57 AM PDT

Bankers have started mapping out financing for Cape Wind, the first offshore wind farm in North America, and part of it could come in the form of a bond.

NY Fed 'Pleased' With Sale of Ex-AIG Bonds

Posted: 10 May 2011 01:45 PM PDT

The Federal Reserve Bank of New York turned aside complaints about its weekly auction of subprime bonds acquired from American International Group, with a spokesman saying it is "pleased" with the results so far.

U.S. Rebuffed in Glaxo Case

Posted: 10 May 2011 05:47 PM PDT

A federal trial judge acquitted a former GlaxoSmithKline lawyer in a high-profile corporate misconduct case, dealing a blow to the government's effort to target individuals in probes of the pharmaceutical industry.