"Wallstreet" Reader

"Wallstreet" Reader

India's Outsourcers Face Threat on Visas

Posted: 25 May 2011 05:35 PM PDT

India's technology outsourcing industry, which has rallied back in recent years from a major accounting scandal and the global recession, now faces a threat to its core business model as U.S. authorities scrutinize the way Indian outsourcing companies use visas.

Fired Worker Sues Wal-Mart

Posted: 25 May 2011 06:01 PM PDT

A fired Wal-Mart employee has filed suit against the retailer alleging the company is harassing him in attempting to force him back to an Arkansas court, as part of a four-year-old trade-secret-violation case.

Asian Shares Mostly Higher; Oil Plays Up

Posted: 25 May 2011 07:26 PM PDT

Asian stocks were mostly higher, with Japan's Nikkei Stock Average up 1.2%, as stronger commodities prices and Wednesday's Wall Street gains buoyed risk appetite, while a share buy-back plan from Canon drove Tokyo shares higher.

U.S. Aims to Extend Its Reach

Posted: 25 May 2011 04:58 PM PDT

Regulators are weighing rules that would impose restrictions on foreign governments engaging in some financial transactions.

Small Businesses Fight IRS Over Data

Posted: 25 May 2011 05:07 PM PDT

The IRS, moving aggressively to collect more taxes from small businesses, is telling companies being audited to turn over exact copies of the electronic records kept in their business-software programs.

Green Bears, Bank Bulls and Insurance Cyclers

Posted: 25 May 2011 06:40 PM PDT

Jim Chanos is bearish on green energy. David Einhorn is bullish on Microsoft, but not its chief executive. Steve Eisman likes parts of property and casualty insurance. These were just a few of the opinions expressed Wednesday by fund managers at the Ira Sohn Investment Conference.

Executives Churn at H-P

Posted: 25 May 2011 05:51 PM PDT

A stream of key Hewlett-Packard executives are leaving as the new CEO, Leo Apotheker, reshapes the company. At the same time, Mr. Apotheker is bringing in new recruits and having more executives report directly to him.

Autos to Get New Fuel Labels

Posted: 25 May 2011 05:58 PM PDT

The familiar price-and-mileage labels affixed to new cars and trucks sold in the U.S. soon will include a five-year estimate of fuel costs compared to an average vehicle.

Comcast Tests Tech Overhaul

Posted: 25 May 2011 04:48 PM PDT

Comcast will start testing a new way to deliver its television channels, co-opting the same technology standard that upstart Internet rivals have used to challenge traditional pay-TV business models.

Disney Surrenders to Navy on 'Team 6'

Posted: 25 May 2011 06:05 PM PDT

Walt Disney said that it will withdraw its applications to trademark the term "SEAL Team 6" for use on toys, games, and other consumer products.

Galleon Founder Asks Judge to Dismiss Conviction

Posted: 25 May 2011 11:45 AM PDT

Galleon founder Rajaratnam asked a federal judge to set aside his conviction in a closely watched insider-trading case.

Deutsche Bank Holders Seek CEO News

Posted: 25 May 2011 07:09 PM PDT

Deutsche Bank's failure to identify a successor to CEO Josef Ackermann is raising investors' ire and fueling concern that a drawn-out, behind-the-scenes battle over the top job will leave the giant German bank without a strong replacement.

Yahoo Mending Alibaba Fences

Posted: 25 May 2011 05:43 PM PDT

Yahoo executives said they had made "significant progress" with Alibaba Group to settle a row over ownership of a key unit that affects the value of the U.S. Internet giant's investment in its Chinese partner.

States Expand Foreclosure Probes

Posted: 25 May 2011 04:10 PM PDT

Attorneys general in California and Illinois said they issued subpoenas to two companies that help mortgage servicers manage home loans, in the latest sign state officials are stepping up pressure on the mortgage industry.

Starbucks Package Prices to Jump

Posted: 25 May 2011 04:14 PM PDT

Starbucks is raising prices on bagged coffee sold at its U.S. cafes by an average of 17% in response to escalating coffee costs.

Fiat Pushes Ahead With Chrysler Plans

Posted: 25 May 2011 02:08 PM PDT

Fiat will consolidate Chrysler Group next week as it prepares to raise its stake in the U.S. partner to 51% ahead of an eventual market listing, the head of the Italian car maker said.

Utah Warns BofA on Foreclosures

Posted: 25 May 2011 12:22 PM PDT

The Utah attorney general sent Bank of America CEO Brian Moynihan a letter last week warning him one the bank's units was conducting illegal foreclosures in Utah.

Martha Stewart's Empire Puts Itself in Play

Posted: 25 May 2011 05:02 PM PDT

Martha Stewart Living named a new president and operating chief and hired Blackstone to pursue options such as partnerships, putting itself in play.

AT&T Readies LTE Launch

Posted: 25 May 2011 08:19 AM PDT

AT&T said it plans to launch its super-fast LTE wireless network in five cities this summer as it looks to catch up to Sprint Nextel and Verizon Wireless in the 4G race.

ECB Won't Try to Weaken Euro

Posted: 25 May 2011 07:11 AM PDT

The European Central Bank won't attempt to weaken the euro to boost exports, ECB executive board member Jürgen Stark said, highlighting that the central bank instead has started to tighten policy in a bid to combat inflation.