"Wallstreet" Reader

"Wallstreet" Reader

Banks Join Battle for Online Payments

Posted: 24 May 2011 07:26 PM PDT

BofA, Wells Fargo and J.P. Morgan Chase are racing into the growing battle over how consumers move money, launching a service that lets people use checking accounts to send money with an email address or phone number.

Asia Down Despite Bump From Car Makers

Posted: 24 May 2011 06:55 PM PDT

Asian stock markets were mostly lower, with Japan's Nikkei down 0.4%, though losses there and in Seoul were contained by strength in auto makers' shares.

Export Tumble Puts Japan in Deficit

Posted: 24 May 2011 07:15 PM PDT

Japanese exports in April were down for a second consecutive month, tipping the trade balance into a deficit as damages from the earthquake continued to hobble production and shipments of industrial goods.

WaMu Gets Closer to Bankruptcy Exit

Posted: 24 May 2011 04:53 PM PDT

Washington Mutual reached a deal that could end a two-and-a-half-year bankruptcy odyssey that began with the largest bank failure in U.S. history.

Feds Look at Avon Bribery Allegation

Posted: 24 May 2011 05:02 PM PDT

Federal prosecutors are investigating several former Avon employees, raising the prospect of criminal charges in an ongoing probe into allegations the company bribed foreign officials.

Senator Wants Details on SAC

Posted: 24 May 2011 06:57 PM PDT

Sen. Charles Grassley has asked the Securities and Exchange Commission to account for how it handled referrals it received of suspicious trading at SAC Capital Advisors LP over the past decade.

GM to Disclose New Detroit Hires

Posted: 24 May 2011 03:05 PM PDT

General Motors is expected to disclose on Wednesday that it will add 2,500 workers to a Detroit factory that will build the next generation Chevrolet Impala.

Traders Accused in Oil-Price Plot

Posted: 24 May 2011 07:18 PM PDT

Traders at an international oil-trading company manipulated global oil prices as they soared to record highs in 2008 by tightly controlling the flow of crude in and out of a major U.S. storage hub, according to a lawsuit filed by U.S. regulators.

Lagarde to Announce Bid to Lead IMF

Posted: 24 May 2011 03:39 PM PDT

French finance minister Christine Lagarde is set to announce her bid to become the next managing director of the IMF on Wednesday.

Mubarak Faces Trial

Posted: 24 May 2011 03:31 PM PDT

Egypt's former president Hosni Mubarak will become the first Arab head of state to face trial after having been deposed by his own people, creating a transformative moment in the revolutions that have swept across more than half a dozen nations since the start of the year.

Twister's Death Toll Seen Rising

Posted: 24 May 2011 04:56 PM PDT

Rescue teams fanned out across the Missouri city of Joplin, picking their way through flattened homes, churches, schools and other buildings in search of hundreds of missing people.

Medtronic Profit Drops 19%

Posted: 24 May 2011 03:59 PM PDT

Medtronic's fiscal fourth-quarter earnings fell 19%, hit by restructuring costs linked to recent job cuts, while sales edged higher despite continued growth challenges in markets for implantable defibrillators and spinal devices.

Google to Unveil Digital Wallet

Posted: 24 May 2011 03:07 PM PDT

Google is expected to disclose details about how consumers can use Android-powered phones to make purchases and redeem coupons at stores.

Ex-Trader Says He Got Tips

Posted: 24 May 2011 05:35 PM PDT

A former Schottenfeld Group trader testified Tuesday that Zvi Goffer, a fellow trader, shared inside information with him about proposed mergers and other deals before they were announced publicly.

Hungary Buys Stake in Oil Firm MOL

Posted: 24 May 2011 05:05 PM PDT

Hungary said it has bought a 21.2% stake in the country's main oil company, MOL Nyrt, from a Russian oil producer.

Barnes & Noble Unveils New Nook

Posted: 24 May 2011 03:48 PM PDT

As the e-reader wars rage, Barnes & Noble is introducing a smaller, cheaper new Nook device, priced at $139.

NASA to Give Nod to Lockheed Capsule

Posted: 24 May 2011 11:17 AM PDT

NASA is expected to tap Lockheed Martin's Orion space capsule as its premier exploration vehicle to take astronauts beyond Earth's orbit.

Gold Extends Gains

Posted: 24 May 2011 11:10 AM PDT

Silver futures rose 3.8% while gold traded in positive territory as investors sought safe havens because of worries about euro-zone sovereign debt and as Goldman Sachs reiterated its bullish view on precious metals.

Fiat Plots Controlling Chrysler Stake

Posted: 24 May 2011 07:15 PM PDT

Italy's Fiat is mulling a plan to quickly gain a majority stake in Chrysler by purchasing new shares from the U.S. Treasury and a United Auto Workers health trust fund.

Revenue Slide Dents Banks' Recovery

Posted: 24 May 2011 05:08 PM PDT

U.S. bank profits soared in the first three months of 2011, but revenue coming in the door fell for only the second time in almost 30 years, casting a shadow on the industry's continued recovery from the 2008 financial crisis.