"Wallstreet" Reader

"Wallstreet" Reader

Mortgage Pioneer to Revisit Subprime

Posted: 23 Jun 2011 06:35 PM PDT

Lewis Ranieri, once known as the father of mortgage finance, is daring to revisit the most infamous sector of the mortgage market—subprime lending.

Asia Rises on Greece Progress

Posted: 23 Jun 2011 06:55 PM PDT

Asian stocks were mostly higher amid further progress toward a resolution to Greece's debt crisis. Japan's Nikkei rose 0.4%.

Apple Is Cleared to Bid on Nortel Patents

Posted: 23 Jun 2011 07:52 PM PDT

Apple received antitrust clearance to bid on a trove of high-tech patents that are being sold next week by Nortel.

Live-Cattle Prices Rise

Posted: 23 Jun 2011 05:37 PM PDT

Live-cattle futures jumped 4% over the past week, supported by numbers showing a decline in the number of steers and heifers being sold to feedlots for fattening.

World Oil Reserves Tapped

Posted: 23 Jun 2011 07:58 PM PDT

The U.S. and 27 other countries agreed to release 60 million barrels of oil from strategic reserves, temporarily driving down oil prices to a four-month low.

J.P. Morgan Drops Debt Pursuit

Posted: 23 Jun 2011 07:21 PM PDT

J.P. Morgan Chase has abandoned more than a thousand debt-collection lawsuits across the U.S. that sought to recover soured credit-card loans from borrowers.

Facebook's Twins Push Other Suit

Posted: 23 Jun 2011 06:08 PM PDT

A day after Cameron and Tyler Winklevoss indicated they wouldn't take their fight with Facebook founder Mark Zuckerberg to the Supreme Court, they pushed ahead with another suit.

Hacker Admits Stealing IPad Data

Posted: 23 Jun 2011 04:50 PM PDT

A computer hacker admitted to writing code that was used to breach AT&T's servers and gather email addresses and other personal information of iPad users.

Drug Firms Score High Court Victories

Posted: 23 Jun 2011 05:25 PM PDT

Drug makers won two victories at the Supreme Court, which split largely along ideological lines to immunize generics manufacturers for defective labeling and strike down state laws intended to stymie aggressive pharmaceutical sales practices.

Nader Kindles Fires of Revolt

Posted: 23 Jun 2011 04:28 PM PDT

Consumer advocate Ralph Nader, a longtime disgruntled Cisco Systems shareholder, wants the tech firm to pay a bigger dividend. Cisco holds $43 billion in cash, nearly half of its market value, despite its weak growth.

Williams Makes Bid for Southern Union

Posted: 23 Jun 2011 06:59 PM PDT

Williams Cos. made a $4.86 billion bid for Southern Union, countering an agreement for Energy Transfer Equity to buy the pipeline company.

Hardware Lags at Oracle

Posted: 23 Jun 2011 07:56 PM PDT

Oracle posted a 36% rise in quarterly profit on higher software and services revenue, although hardware-systems demand was flat and margins narrowed.

Feds to Launch Probe of Google

Posted: 23 Jun 2011 07:27 PM PDT

Federal regulators are poised to hit Google Inc. with subpoenas, launching a broad, formal investigation into whether the Internet giant has abused its dominance in Web-search advertising.

Ford Drops in Quality Survey

Posted: 23 Jun 2011 05:18 PM PDT

Ford suffered a big drop in auto quality this year, mainly due to a complicated entertainment system, while Toyota's Lexus rebounded from a poor showing last year to top an annual new-car quality rating.

Viacom Sues Cablevision Over App

Posted: 23 Jun 2011 06:09 PM PDT

Viacom filed a lawsuit against Cablevision, accusing the cable provider of unlawfully streaming live television on mobile devices.

Yahoo Directors Back CEO Bartz

Posted: 23 Jun 2011 04:40 PM PDT

Yahoo's chairman expressed support for CEO Carol Bartz amid speculation about the future of the Internet portal, whose revenue has been stagnant under Bartz's watch.

Twins Drop Case Against Facebook

Posted: 23 Jun 2011 12:50 AM PDT

Cameron and Tyler Winklevoss, Harvard University classmates and former business partners of Facebook founder Mark Zuckerberg, have decided not to further appeal a settlement in their long-running dispute over the origins of Facebook.

T-Mobile Dealers Start to Hang Up

Posted: 23 Jun 2011 09:24 AM PDT

Regulators are still busy evaluating the plan to combine the country's second and fourth largest wireless operators, but consolidation in the U.S. mobile phone market has already begun.

Generic Drug Makers Shielded From Labeling Lawsuits

Posted: 23 Jun 2011 03:53 PM PDT

A divided Supreme Court shielded generic drug makers from consumer lawsuits alleging they inadequately labeled their products.

Lagarde Says IMF Will Hear Emerging Economies

Posted: 23 Jun 2011 06:35 PM PDT

French Finance Minister Christine Lagarde closed out the race to lead the International Monetary Fund with a pledge to help emerging economies gain more clout at the institution.