"Wallstreet" Reader

"Wallstreet" Reader

Fed Sells Out Latest AIG Bond Offering

Posted: 19 May 2011 05:38 PM PDT

The Federal Reserve Bank of New York sold all 29 subprime mortgage bonds on offer in its latest sale from a portfolio of securities acquired from American International Group.

Asia Mostly Follows Wall Street Higher

Posted: 19 May 2011 06:56 PM PDT

Asian stock markets were mostly higher, cheered by Wall Street's rise, though Japanese stocks were capped by losses in the utilities sector.

Liberty Media Bids for Barnes & Noble

Posted: 19 May 2011 07:12 PM PDT

Barnes & Noble said Liberty Media has offered to buy the bookseller in a deal valuing it at about $1 billion, sending Barnes & Noble shares up in after-hours trading Thursday.

Mine Probe Faults Massey

Posted: 19 May 2011 04:47 PM PDT

An investigation into the Massey coal-mine explosion concluded the accident could have been prevented and was primarily the result of the failure of the company's safety systems, as well as inadequate oversight by regulators.

China Is Now Top Gold Bug

Posted: 19 May 2011 06:08 PM PDT

Chinese investors are snapping up gold bars and coins, buying more than ever before in the first quarter of 2011 and overtaking Indian buyers as the world's biggest purchasers of the metal.

Flood of Fees Flows Into Bank Coffers

Posted: 19 May 2011 05:25 PM PDT

The social-networking investing frenzy that sent LinkedIn's IPO soaring is creating a profit bonanza for Wall Street, which is expecting to reap $2.5 billion in fees from IPOs this year, the second-highest figure in more than a decade.

U.S. Scraps Letter Grades for Cars

Posted: 19 May 2011 06:58 PM PDT

The Obama administration has scrapped a proposal to assign new passenger cars a letter grade from A to D based on their fuel efficiency.

Siemens Must Pay Areva for Nuclear Venture

Posted: 19 May 2011 03:31 PM PDT

Siemens said that an arbitration court ruled it had not fully met its obligations towards France's Areva when it quit their nuclear-power joint venture and ordered it to pay Areva $924 million.

LinkedIn IPO Soars, Feeding Web Boom

Posted: 19 May 2011 07:04 PM PDT

Silicon Valley's technology frenzy burst onto the stock market as LinkedIn's shares more than doubled in their first day of trading, setting the stage for debuts from other Internet companies such as Facebook.

Gap Gets Squeezed by Spiral of Costs

Posted: 19 May 2011 04:45 PM PDT

Gap warned that raw-materials costs are rising faster than expected—and faster than it can raise prices—creating a squeeze that will eat into the company's profit this year.

Kirk: Doha Trade Talks Deadline Not Realistic

Posted: 19 May 2011 02:29 PM PDT

U.S. Trade Representative Kirk said it isn't realistic to expect that Doha Development Round negotiations can be concluded in 2011.

MetLife Defends Itself on Death-Policy Tack

Posted: 19 May 2011 05:49 PM PDT

State regulators took MetLife to task for using a Social Security death database as early as the 1980s to cut off retirement-income checks of its customers, while not using the same database until two decades later to try to identify deceased life-insurance policyholders whose beneficiaries were due payouts.

NBCU Sports Chairman Dick Ebersol Resigns

Posted: 19 May 2011 07:19 PM PDT

NBC Sports Chairman Dick Ebersol resigned Thursday, ending a multidecade run at NBC Sports amid cultural clashes with the company's new management.

Chrysler Nears Bailout Repayment

Posted: 19 May 2011 05:49 PM PDT

Chrysler is nearing its goal of repaying the U.S. and Canadian governments by raising $7.5 billion in fresh debt. But to do so the company had to tweak the structure of its debt package Thursday for the second time this week.

Mortgage Delinquencies Fall

Posted: 19 May 2011 05:31 PM PDT

The number of U.S. households behind on mortgage payments posted a substantial decline from year-earlier levels, but foreclosures remained near record highs in the first quarter.

U.K. Bank Oversight Gets Few Changes

Posted: 19 May 2011 06:09 PM PDT

A year after the U.K. government announced a radical restructuring of its bank-supervisory apparatus, top regulatory officials unveiled their vision for how the new system will work -- and it is largely the same as what is already in place.

ECB Threatens Greek Funding

Posted: 19 May 2011 06:27 PM PDT

The European Central Bank warned it may pull the plug on funding for Greek banks in the event of any restructuring of Greece's government debt.

GameStop's Profit Rises 6.9%

Posted: 19 May 2011 07:03 AM PDT

GameStop's fiscal first-quarter profit rose 6.9% amid higher sales of new and used videogames and equipment.

BlackRock to Buy Back BofA Stake

Posted: 19 May 2011 05:32 PM PDT

BlackRock has agreed to buy back Bank of America's remaining stake in the money manager for about $2.55 billion.

Deutsche Bank Denies Bid to Hurt Kirch

Posted: 19 May 2011 01:38 PM PDT

Deutsche Bank executives defended the bank in court Thursday against accusations that it triggered the collapse of a German media conglomerate, the latest in a series of legal confrontations that have tarnished the bank's image.