"Wallstreet" Reader

"Wallstreet" Reader

Goldman's Tourre Sheds Some Charges in SEC Suit

Posted: 10 Jun 2011 05:30 PM PDT

Goldman Sachs Group bond trader Fabrice Tourre lost his bid to dismiss a civil securities-fraud lawsuit by the SEC over the marketing and sale of a complex financial instrument tied to subprime mortgages.

California Proposal Jolts Auto Makers

Posted: 10 Jun 2011 04:51 PM PDT

Auto makers are fighting a California emissions proposal that could effectively require they sell hundreds of thousands of electric or other zero-emissions cars nationwide by 2025.

Carstens Tries to Settle IMF's 65-0 Score

Posted: 10 Jun 2011 04:49 PM PDT

Despite a résumé that appears tailor-made for the IMF, Mexican central-bank head Agustín Carstens is seen as a longshot in the contest for the fund's top job.

Chevron Leaves Rosneft Project

Posted: 10 Jun 2011 04:53 PM PDT

Russian state oil firm Rosneft said Chevron is pulling out of a joint exploration effort in the Black Sea.

FDIC's Gruenberg Is Pick to Succeed Bair

Posted: 10 Jun 2011 05:43 PM PDT

President Obama said he will nominate Martin Gruenberg to be the next chairman of the Federal Deposit Insurance Corp.

Goldman Suffers Office Loss

Posted: 10 Jun 2011 05:42 PM PDT

One of Goldman Sachs Group's Whitehall real-estate funds has suffered a large loss on a trophy Manhattan office building, at 230 Park Ave., that the fund helped purchase at the market's peak.

Saudis Signal Boost to Oil Shipments

Posted: 10 Jun 2011 06:49 PM PDT

Just days after a fractious OPEC meeting, the first signs emerged that Saudi Arabia was planning on making good on its vow to boost oil output on its own, sending crude futures tumbling.

Alabama County May Lay Off 40% of Workers

Posted: 10 Jun 2011 11:06 AM PDT

Jefferson County, Ala.'s finance committee agreed to recommend laying off more than 40% of the county's work force in an effort to keep the county functional.

Investors Chastise Chesapeake

Posted: 10 Jun 2011 06:33 PM PDT

Chesapeake Energy shareholders registered dissatisfaction with the company's board and pay practices, but still reelected CEO Aubrey McClendon as chairman of the company.

SEC Rebuffs Grassley Over SAC Referrals

Posted: 10 Jun 2011 05:44 PM PDT

Securities regulators have denied a congressional request to disclose how they have handled referrals they received of suspicious trading at hedge fund SAC Capital Advisors, according to an agency letter released Friday.

SEC to Delay Some Swaps Rules

Posted: 10 Jun 2011 02:27 PM PDT

The SEC moved to prevent confusion in the $600 trillion over-the-counter derivatives market next month when several new rules are set to take effect .

Fed Wants Broader Bank Purview

Posted: 10 Jun 2011 04:41 PM PDT

The Fed proposed a rule that would require the biggest U.S. banks to submit detailed capital plans for federal review before increasing dividend payments or making stock repurchases.

Ally Delays IPO Meant to Repay Government Bailout

Posted: 10 Jun 2011 03:29 PM PDT

U.S. taxpayers will have to wait longer to see repayment from the government bailout of Ally Financial, which is delaying an IPO due to poor market conditions.

Vietnam Plans Drill After China Spat

Posted: 10 Jun 2011 06:50 AM PDT

A squabble over territory in the South China Sea escalated Friday when Vietnam announced a live ammunition drill in an apparent response to China's demand that the Vietnamese halt all oil exploration in the area.

Pandora Raises IPO's Size

Posted: 10 Jun 2011 03:28 PM PDT

Pandora Media raised the price range of its IPO by $3 and the number of shares by a million, making the maximum offering size $176.4 million.

OPEC Warns of Supply Gap

Posted: 10 Jun 2011 11:43 AM PDT

The Organization of Petroleum Exporting Countries warned of a looming supply gap in the second half of 2011, but tempered this by highlighting economic uncertainty.

Travelers Tackles Costly Disasters

Posted: 10 Jun 2011 03:29 PM PDT

Travelers is slowing its share-buyback program after natural disasters cost the company about $1 billion over two months.

Affordable-Housing Delays Threaten China's Economy

Posted: 10 Jun 2011 06:06 PM PDT

China acknowledged it was falling behind schedule on ambitious plans to build low-income housing, a delay that could add to concerns around its economy.

Gates Questions NATO's Future

Posted: 10 Jun 2011 04:33 AM PDT

U.S. Defense Secretary Robert Gates issued a blunt critique of the North Atlantic Treaty Organization, arguing the Libya operations demonstrated serious gaps in military capabilities and showed the consequences of America's allies failing to spend enough on their own defense.

Report Slams Nuclear Regulator

Posted: 10 Jun 2011 10:27 AM PDT

Gregory Jaczko "strategically" withheld information from his colleagues in an effort to stop work on the controversial Yucca Mountain waste repository, according to a report by the agency's internal watchdog.