"Wallstreet" Reader

"Wallstreet" Reader

Asian Shares Mixed After Fed Caution

Posted: 22 Jun 2011 07:00 PM PDT

Asian stock markets were mixed after the Federal Reserve's downbeat assessment of the U.S. economy stirred further worries about the global recovery. Japan's Nikkei Stock Average rose 0.2%.

Shipyards Running Aground

Posted: 22 Jun 2011 07:26 PM PDT

While companies around the world are bouncing back from the global recession, South Korea's giant shipyards only now are seeing its effects and are changing tack to minimize the impact.

House Bill Eases Offshore-Drilling Rules

Posted: 22 Jun 2011 07:05 PM PDT

The House voted to streamline the issuance of clean-air permits for offshore oil-drilling projects, representing another attempt by Republicans to pressure the Obama administration into speeding up domestic oil production.

Telstra Signs Deal on Australian Network

Posted: 22 Jun 2011 06:45 PM PDT

The Australian government and Telstra Corp. signed a nearly $38 billion deal for the telecoms giant sell its existing fixed copper lines for the country's national high-speed broadband network.

Yahoo, CEO Bartz Face Tough Shareholder Meeting

Posted: 22 Jun 2011 06:16 PM PDT

Yahoo and CEO Carol Bartz are set to face some tough questions Thursday at the Internet company's annual shareholder meeting.

Google, Citigroup Invest More in Wind Farm

Posted: 22 Jun 2011 05:31 PM PDT

Google and Citigroup said they will each invest an additional $102 million in a California wind farm, bolstering a facility they say will be the nation's largest wind-energy provider by the end of this year.

GM Stock Impedes U.S. Exit

Posted: 22 Jun 2011 05:30 PM PDT

Two years after General Motors and the Obama administration worked together to save the auto maker, the two are now at odds over how to get the government out of the company.

Moscow Czar Slams BP's Partners

Posted: 22 Jun 2011 07:13 PM PDT

Russian Deputy Prime Minister Igor Sechin, an architect of the failed BP-Rosneft alliance, said the biggest losers from the collapse of the landmark deal are the Russian billionaires who blocked it.

Switzerland, U.S. Discuss Tax Pact

Posted: 22 Jun 2011 04:33 PM PDT

Switzerland is closing in on sweeping agreements with the U.S., the U.K. and Germany that would draw a line under past allegations of assisting tax evasion.

Dynegy Taps Independent Director Flexon as CEO

Posted: 22 Jun 2011 03:14 PM PDT

Dynegy named current independent director Robert Flexon as chief executive Wednesday, the latest change at the top of the power generator after a protracted fight for its control.

Bed Bath & Beyond Posts Higher Net, Raises View

Posted: 22 Jun 2011 05:53 PM PDT

Bed Bath & Beyond reported a 31% rise in quarterly earnings and raised its outlook for the full year.

Time Warner Cable, Viacom in Accord

Posted: 22 Jun 2011 04:11 PM PDT

Time Warner Cable and Viacom have put their legal fight over beaming live TV channels to Apple iPads on pause.

In Chile, an IPO Boomlet Percolates

Posted: 22 Jun 2011 11:51 AM PDT

As Chile quickly recovers from recession and the deadly 2010 earthquake, the list of local companies waiting to debut on the local market continues to grow as demand, if not always prices, surges.

TMX Offers Get a Little Sweeter

Posted: 22 Jun 2011 05:53 PM PDT

Both sides in the bidding war for TMX Group, the operator of Canada's flagship Toronto Stock Exchange, sweetened their offers as they attempt to woo undecided TMX shareholders ahead of a key vote next week.

Southwest Grounds Pilot After Obscene Radio Rant

Posted: 22 Jun 2011 07:04 PM PDT

Southwest Airlines suspended a pilot who earlier this year broadcast a vulgar rant that was picked up on an air-traffic control frequency available to many pilots.

Aloft, Asian Heft

Posted: 22 Jun 2011 04:43 PM PDT

Asia continues to power growth in the fragile global airline industry, with Indian budget carrier IndiGo finalizing a $16.2 billion order with Airbus.

Fed Lowers U.S. Outlook

Posted: 22 Jun 2011 07:28 PM PDT

Fed officials see the U.S. economy settling into a disappointingly weak recovery, and say they have done all they are prepared to do to spur growth for now.

Obama to Unveil Troop-Drawdown Plan

Posted: 22 Jun 2011 10:21 AM PDT

Obama will announce the first steps in a gradual plan to extract the U.S. from the Afghanistan war, including an initial withdrawal of as many as 5,000 troops next month, defense officials say.

Charges Settled, Icon Put on Sale

Posted: 22 Jun 2011 06:31 PM PDT

Regions Financial put its Morgan Keegan brokerage unit up for sale in a bid to raise capital and repay government aid the same day the unit resolved civil-fraud charges with the SEC.

U.S. to Discourage Food Export Bans

Posted: 22 Jun 2011 09:19 AM PDT

The U.S. will push for more transparent food production and open markets to reduce food price volatility at Thursday's meeting of big economy agricultural ministers, U.S. Secretary of Agriculture Tom Vilsack said.