"Wallstreet" Reader

"Wallstreet" Reader

Ex-Fed Chief Greenspan Favors Clinton-Era Tax Rates

Posted: 03 Jun 2011 06:46 PM PDT

Alan Greenspan, a high-profile proponent of President George W. Bush's tax cuts, now says the U.S.'s debt troubles have become so worrisome that he would support going back to Clinton-era tax rates.

U.S. Lawmakers Seek Probe of Handling of Madoff Claims

Posted: 03 Jun 2011 05:50 PM PDT

A group of U.S. lawmakers critical of the way money is being recovered from Bernard L. Madoff's Ponzi scheme asked a federal watchdog to investigate the industry association overseeing the settlement of victims' claims.

Wal-Mart Sets New Share Buyback

Posted: 03 Jun 2011 05:01 PM PDT

Discount retailer Wal-Mart sought to reassure investors that its shares remain a compelling value despite two straight years of slumping U.S. sales by disclosing a new $15 billion share buyback plan.

U.S. Bars TransCanada From Restarting Pipeline

Posted: 03 Jun 2011 05:04 PM PDT

U.S. government regulators have barred TransCanada from restarting its Keystone pipeline following two small oil spills in the U.S. along the line last month.

First Expert-Network Trial Begins

Posted: 03 Jun 2011 06:17 PM PDT

A former portfolio manager for giant hedge fund SAC Capital Advisors, in the first insider-trading trial related to a wide-ranging government probe of expert-network firms, testified that he gave investigators incriminating information on more than a dozen other people.

Bank Failures Take a Downswing

Posted: 03 Jun 2011 06:24 PM PDT

Nationwide, bank failures fell to only five federally ordered takeovers last month, marking an encouraging milestone as the cycle of seizures that started in 2007 might be winding down.

Hackers Hit Another Sony Site

Posted: 03 Jun 2011 04:17 PM PDT

Hackers breached a marketing website for Sony's movie studio and stole customer data, but the email addresses and passwords came from a site that has been dormant for several years.

Chrysler Could Skip an IPO

Posted: 03 Jun 2011 05:29 PM PDT

Chrysler for the first time Friday confirmed an IPO won't be pursued if its major shareholder, Fiat, reaches deals to acquire shares held by the U.S. auto maker's two minority shareholders.

ABC Hopes Couric Can Replace 'Oprah'

Posted: 03 Jun 2011 05:19 PM PDT

Katie Couric is finalizing a deal with Walt Disney's ABC to create her own syndicated talk show, and is likely to announce the program as early as Monday.

For Corporate Debt, June Swoon Is Unlikely

Posted: 03 Jun 2011 06:21 PM PDT

Corporate-bond prices sank but market participants said companies would likely shrug off economic concerns while borrowing rates remain near historic lows.

Banks May Need More Capital

Posted: 03 Jun 2011 04:38 PM PDT

Fed Board Gov. Tarullo said U.S. regulators should set additional capital requirements for financial firms. One plan goes about 20% to more than 100% over Basel III.

UBS London Plans Dealt Blow

Posted: 03 Jun 2011 09:17 AM PDT

Plans to develop a new U.K. headquarters in London's financial district for UBS were dealt a blow when an architectural watchdog recommended the existing site for protected status.

Greece Set to Get Next Aid Payout

Posted: 03 Jun 2011 06:25 PM PDT

A top euro-zone official said cash-strapped Greece is in line for a fresh program of aid from its peers in the currency union, and EU and IMF authorities said Athens would likely get in July the next tranche of money from last year's €110 billion ($158 billion) bailout.

Pilots Union Seeks Vote at JetBlue

Posted: 03 Jun 2011 10:14 AM PDT

The Air Line Pilots Association has formally asked the National Mediation Board to schedule an election that would give 2,300 nonunion JetBlue pilots the chance to join the union.

Massey Disputes Mine-Blast Reports

Posted: 03 Jun 2011 03:49 PM PDT

Massey Energy's investigation into a mine explosion that killed 29 workers says the blast was fueled by a natural-gas surge and not coal dust, contradicting the findings of federal regulators and an independent probe.

U.S. Jobless Rate Rises as Hiring Slows

Posted: 03 Jun 2011 07:13 AM PDT

The U.S. added 54,000 jobs in May, well below expectations, while the unemployment rate unexpectedly rose to 9.1%.

Stocks Pare Losses

Posted: 03 Jun 2011 02:58 PM PDT

U.S. stocks pared earlier losses as a dismal jobs report added to the drumbeat of investor concerns about a slowing economy, although encouraging service-sector data kept the market's declines in check.

Foster's Says It Is Aware of Buyout Talk

Posted: 03 Jun 2011 05:32 AM PDT

Australian brewing giant Foster's Group Ltd. said Friday it had nothing to disclose in regard to a potential buyout of the brewer after media reports indicated bidders were beginning to circle.

Prada Discloses Pay, Tax Details in Hong Kong

Posted: 03 Jun 2011 05:42 AM PDT

Prada matriarch Miuccia Prada and her husband received nearly $29 million in compensation in the fashion house's last fiscal year, according to documents filed in Hong Kong ahead of its planned $2 billion initial public offering.

MGM China Shares Up in Hong Kong Debut

Posted: 03 Jun 2011 08:11 AM PDT

Shares of MGM China Holdings, a casino joint venture between MGM Resorts International and a daughter of Macau gambling tycoon Stanley Ho, were up 1.8% on their first day of trading in Hong Kong.