"Wallstreet" Reader

"Wallstreet" Reader

Nokia's Latest Headache: Android

Posted: 01 Jun 2011 06:42 PM PDT

Smartphones running Google's Android operating system are sweeping Europe at the expense of Nokia, cutting into one of the Finnish-based company's last earnings strongholds.

Asian Shares Fall on Global Economy

Posted: 01 Jun 2011 07:26 PM PDT

Asian stock markets were sharply lower on heightened concerns about the global economic outlook, while the market in Tokyo was also wracked by political uncertainty. Japan's Nikkei Stock Average was down 1.7%.

'Energy Shots' Find New Market in Seniors

Posted: 01 Jun 2011 05:54 PM PDT

Originally marketed to young people, small shots of caffeinated vitamin drinks such as 5-Hour Energy are appealing to a growing number of people over 60 who aren't ready to slow down with age.

U.S. Is Tight-Lipped on IMF Candidates

Posted: 01 Jun 2011 04:57 PM PDT

The U.S. is largely staying silent in the battle to pick the next chief of the International Monetary Fund, a move that some observers see as a tactic designed to let key pieces of the race fall into place without heavy-handed U.S. involvement.

Bidder Emerges for Borders Bookstores

Posted: 01 Jun 2011 05:26 PM PDT

Private-equity firm Gores Group is in talks to buy more than half of Borders Group's stores out of bankruptcy.

Delta Probed on Union Drive

Posted: 01 Jun 2011 05:28 PM PDT

Delta Air Lines faces further scrutiny by the U.S. over a union's allegations the carrier interfered with an organizing drive there last year.

American Must Return to Orbitz

Posted: 01 Jun 2011 07:00 PM PDT

AMR's American Airlines must make its flights available on Orbitz Worldwide's websites, an Illinois court ruled.

Liberty Begins Examining Barnes & Noble's Books

Posted: 01 Jun 2011 01:29 PM PDT

Liberty Media is conducting due diligence at Barnes & Noble, looking closely at its books as it moves ahead with its bid for the company.

Turnaround Firms Go Municipal

Posted: 01 Jun 2011 11:15 AM PDT

Well known for their involvement in corporate restructurings, turnaround firms like FTI Consulting and Alvarez & Marsal are seeing increased opportunities to help distressed state and local governments.

Prosecutor: Goffer Led Insider Network

Posted: 01 Jun 2011 12:53 PM PDT

Former trader Zvi Goffer was the "ringleader" of an insider-trading network, a prosecutor said Wednesday, paying nearly $100,000 in exchange for confidential information about proposed mergers involving clients of law firm Ropes & Gray.

Europe Races to Widen Aid for Greece

Posted: 01 Jun 2011 07:20 PM PDT

European finance officials met late Wednesday to prepare a fresh aid package for Greece, but the talks must first bridge a crucial gap between Germany and the ECB on how to prop up the indebted nation.

DJIA Drops 279.65 On Economic Worry

Posted: 01 Jun 2011 06:16 PM PDT

Stocks suffered their biggest declines since the middle of last year, as several downbeat reports prompted fears the economic recovery is running out of steam.

Economic Outlook Darkens

Posted: 01 Jun 2011 05:13 PM PDT

The drumbeat of bad news about the U.S. economy got louder on Wednesday, rattling financial markets and driving stocks to their biggest drop in a year.

Auto Bailout Cost $14 Billion

Posted: 01 Jun 2011 05:48 PM PDT

The White House said that taxpayers could lose roughly $14 billion of the money spent on auto industry bailouts, despite the industry's recent recovery.

Hyundai Soars as Auto Sales Slip

Posted: 01 Jun 2011 05:25 PM PDT

The U.S. auto industry suffered its first significant setback in more than 18 months as new car and truck sales declined 3.7% in May, hurt by higher prices, Japanese supply shortages and growing consumer jitters about the economy.

Alpha Closes Massey Deal

Posted: 01 Jun 2011 06:20 PM PDT

Alpha completed its $7.1 billion acquisition of Massey Energy, inheriting extensive reserves of high-demand coal and more than a dozen lawsuits stemming from a deadly accident last year.

Microsoft Previews Touch Interface

Posted: 01 Jun 2011 05:27 PM PDT

Microsoft previewed a new touch-based user interface for its next-generation Windows operating system.

Macy's Sales Growing

Posted: 01 Jun 2011 08:15 AM PDT

Macy's same-store sales for May jumped a robust 7.4% and the department store operator raised its sales targets for the quarter and year.

LightSquared Disrupts GPS

Posted: 01 Jun 2011 06:27 PM PDT

LightSquared's plan to launch a new national wireless broadband network faces a setback as preliminary tests suggest the start-up's network could knock out some GPS systems.

Glencore in Zambia Tax Probe

Posted: 01 Jun 2011 09:48 AM PDT

The European Investment Bank said it is investigating tax evasion accusations against commodity trader Glencore International in Zambia, where it is the majority owner of Mopani Copper Mines, and has frozen funding to the group.