"Wallstreet" Reader

"Wallstreet" Reader

Fed Backs Funds for Research

Posted: 16 May 2011 04:13 PM PDT

Fed Chairman Bernanke made the case for public research funding, saying government spending on research and development can help boost economic growth.

MGM China Plans up to $1.5 Billion HK IPO

Posted: 16 May 2011 07:13 PM PDT

MGM China Holdings, a casino joint venture between Las Vegas based-MGM Resorts International and a daughter of gambling tycoon Stanley Ho, is seeking to raise up to $1.5 billion in an initial public offering in Hong Kong.

Asia Mixed; Tokyo Weighed by Utilities, Banks

Posted: 16 May 2011 06:48 PM PDT

Asian stock markets were mixed as investors were cautious after yet another downturn in Wall Street, with utilities and some bank stocks weighing on the Tokyo market.

Feds Sink Nasdaq's Bid to Buy Big Board

Posted: 16 May 2011 06:35 PM PDT

The Justice Department killed Nasdaq's $11 billion hostile-takeover bid for control of the NYSE, saying it would destroy the intense competition that has lowered trading costs and given U.S. companies a choice about where to list their shares.

New York AG Probes Banks Over Mortgage Securities

Posted: 16 May 2011 05:25 PM PDT

New York Attorney General Eric Schneiderman will hold meetings with several banks, including Bank of America, Morgan Stanley and Goldman Sachs, as he opens a probe into the packaging of mortgage loans into securities.

Euro Zone Endorses Draghi as ECB Chief

Posted: 16 May 2011 04:10 PM PDT

Euro-area finance ministers backed Italian central bank chair Mario Draghi as the next head of the European Central Bank, the first formal approval necessary before the official can take the post.

Goldman Beefs Up Investment-Banking Ranks

Posted: 16 May 2011 07:11 PM PDT

Goldman Sachs Group, revving up its investment-banking operations as deal volume accelerates, added a top executive to the unit's leadership and overhauled its senior mergers-and-acquisition ranks.

H-P Chief Warns of 'Tough Quarter'

Posted: 16 May 2011 05:55 PM PDT

H-P's chief, Leo Apotheker, said the technology company was in for "another tough quarter" and that "we must watch every penny," according to an email to top executives.

Life Partners Delays Annual Report

Posted: 16 May 2011 04:21 PM PDT

Life Partners, which may be the subject of a civil action by the Securities and Exchange Commission, said it posted a roughly 60% drop in fourth-quarter revenue and said it would delay filing its 10K annual report while management assesses the value of a key asset.

Hedge Fund Boosts Stake in El Paso

Posted: 16 May 2011 03:16 PM PDT

Hedge fund Jana Partners expanded its stake in El Paso to just over 4%, in what could be an effort to help force the natural-gas provider to break up.

At UBS, Complaints and Exits

Posted: 16 May 2011 07:37 PM PDT

Gripes over pay have erupted into internal spats between UBS's investment-banking chief and his deal makers, contributing to an exodus from the Swiss lender.

Pimco Paid Hefty Prices for Lehman Debt

Posted: 16 May 2011 12:29 PM PDT

Pacific Investment Management Co. accrued more than $4.5 billion in Lehman Brothers debt before the investment bank's collapse and often paid a premium for it.

As U.S. Hits Debt Limit, Deal Is Far Off

Posted: 16 May 2011 01:25 PM PDT

For the U.S. government, reaching the $14.294 trillion debt ceiling Monday, sets in motion an uncertain, 11-week political scramble to avoid a default.

Fox Lineup Includes Simon Cowell

Posted: 16 May 2011 04:11 PM PDT

Fox previewed its fall line-up, which includes a slate of new comedies, a drama with dinosaurs and the return of Simon Cowell.

Microsoft Mines Facebook

Posted: 16 May 2011 01:39 PM PDT

Microsoft, seeking a leg up on Google, will further tailor its Bing search results with data gleaned from users of Facebook.

Gold One Agrees to Takeover Offer

Posted: 16 May 2011 03:19 PM PDT

Gold One International said it has accepted a takeover offer from a Chinese consortium that values the Africa-focused gold producer at $634 million.

BlackBerry Maker to Support Rivals

Posted: 16 May 2011 01:33 PM PDT

BlackBerry maker RIM tacitly acknowledged the inroads Apple's iPhone and Google's Android software are making in the corporate smartphone market, with its recent decision to offer companies tools for managing and ensuring the security of Blackberry rivals.

Russia to Invest in U.S. Memory-Chip Firm

Posted: 16 May 2011 07:05 PM PDT

A Silicon Valley chip start-up is teaming up with a Russian government investment fund on a $300 million manufacturing venture, a boost for a novel memory technology.

Canadian Firms Defend TMX Counterbid

Posted: 16 May 2011 03:43 PM PDT

A consortium of nine of Canada's largest banks and pension funds defended their $3.72 billion bid for the operator of the country's flagship stock exchange amid concerns their plan could meet objections from competition regulators.

Chinese IPOs No Longer Sizzling

Posted: 16 May 2011 04:15 PM PDT

U.S. investors have swarmed to Chinese initial public offerings since last fall. But that love affair may be fading.