"Wallstreet" Reader

"Wallstreet" Reader

Madoff Trustee Raises J.P. Morgan Claims to $19 Billion

Posted: 24 Jun 2011 06:19 PM PDT

The trustee in charge of liquidating Bernard Madoff's investment firm is now seeking at least $19 billion in damages from J.P. Morgan Chase based on what the bankruptcy overseer said is new evidence.

SEC OKs Circuit Breakers for All Stocks

Posted: 24 Jun 2011 05:57 PM PDT

The agency approved an expansion of safeguards aimed at preventing another "flash crash," allowing exchanges to implement a circuit breaker for every U.S. stock.

China Trips Up Airbus Deal

Posted: 24 Jun 2011 06:28 PM PDT

China's anger with the European Union's emissions-trading plan for airlines has delayed the revealing of a major Airbus deal and could undermine upcoming deals.

CFTC Probes Oil Trading for IEA Leak

Posted: 24 Jun 2011 06:17 PM PDT

U.S. commodity regulators are examining whether word of a decision to coordinate a release of oil stockpiles was leaked ahead of the IEA's Thursday announcement.

For Private-Equity Clients, Worries Over Public Listing

Posted: 24 Jun 2011 06:11 PM PDT

Public pension funds and other private-equity clients say that managers could become too preoccupied with short-term results or may lose their focus.

BlackBerry's Marketing Misfires

Posted: 24 Jun 2011 07:12 PM PDT

Research In Motion's recent stream of high-profile executive departures has put the spotlight on an area where the BlackBerry maker has traditionally been weak: understanding and talking to ordinary consumers.

Citigroup Cites $2.7 Million in Customer Losses From Hack

Posted: 24 Jun 2011 02:36 PM PDT

Citigroup has told government officials that about 3,400 of the customers whose credit-card information was hacked have suffered about $2.7 million in losses.

Drug Offers Hope In Diabetes Study

Posted: 24 Jun 2011 05:10 PM PDT

Researchers said a cheap generic drug currently used as a vaccine against tuberculosis showed promise in a small human study as a potential therapy for Type 1 diabetes, one of medicine's most difficult-to-treat diseases.

NYSE Settles Shareholder Suit Against Merger

Posted: 24 Jun 2011 12:14 PM PDT

NYSE Euronext has reached a settlement with shareholders over their challenge of its proposed merger with Deutsche Börse, after the Big Board operator moved to pay out a $900 million special dividend upon completion of the deal.

Groupon Triggers Mutual Appreciation

Posted: 24 Jun 2011 01:43 PM PDT

Mutual funds from Morgan Stanley, T. Rowe Price, Fidelity and American Funds have bought into sexy start-ups like Groupon, Twitter, Facebook and Zynga. Some of the bets will provide stellar returns for the funds' small-fry investors. Yet investing in illiquid securities raises questions about whether those trading into and out of the funds are being treated fairly.

Paulson to Investors: Sino-Forest Bet Was Well-Researched

Posted: 24 Jun 2011 03:22 PM PDT

Hedge-fund titan John Paulson told investors in a letter that his firm "conducted considerable due diligence" before making its investment in Sino-Forest, the Chinese forestry company that has seen its shares tumble in recent weeks amid criticisms from a short seller.

Hackers Hit Videogame Maker Electronic Arts

Posted: 24 Jun 2011 04:52 PM PDT

Electronic Arts said a cyberattack on its BioWare division allowed hackers to steal names, encrypted passwords, email addresses and birth dates.

Obama to Pick Insurance Expert for Risk Panel

Posted: 24 Jun 2011 10:42 AM PDT

Obama will announce his intention to nominate S. Roy Woodall, a former Kentucky insurance commissioner, to serve as an insurance expert on a new council charged with overseeing financial-system risk.

Google Defends Itself Amid Probe

Posted: 24 Jun 2011 04:13 PM PDT

Google confirmed it had received a subpoena from the Federal Trade Commission in connection with a probe of its business practices, and outlined the defenses it will muster in its confrontation with regulators.

Canada Regulator Eyes TMX Deal

Posted: 24 Jun 2011 05:54 PM PDT

Mark Carney, governor of the Bank of Canada, weighed into the debate over the proposed combination of TMX Group and London Stock Exchange Group.

Greece Secures Second Bailout

Posted: 24 Jun 2011 09:49 AM PDT

Greece has secured a second bailout from the European Union and the International Monetary Fund, and it too will be on the order of €110 billion, Prime Minister George Papandreou said.

Rare-Earth Firms Prove a Common Focus for Shorts

Posted: 24 Jun 2011 09:18 AM PDT

The rare-earth minerals sector is drawing near-record short interest as bearish investors bet against its previously highflying stocks, including those of Molycorp, Avalon Rare Metals and Rare Element Resources.

U.S. Seeks 385 Years in Prison for Ex-Taylor Bean Chairman

Posted: 24 Jun 2011 01:05 PM PDT

Federal prosecutors said the former chairman of mortgage lender Taylor, Bean & Whitaker Mortgage, Lee Farkas, should spend the rest of his life behind bars because he continues to deny responsibility for the devastation he wrought as the mastermind of a multibillion-dollar "fraud of staggering proportions."

GoDaddy Nears Sale to KKR

Posted: 24 Jun 2011 04:45 PM PDT

Private-equity firms KKR and Silver Lake, along with a third investor, are nearing a deal to buy GoDaddy Group, the closely-held company that registers Internet domain names.

Alcoa, Airbus Reach $1 Billion Deal

Posted: 24 Jun 2011 07:43 AM PDT

Alcoa has been awarded a new multiyear supply agreement with aerospace firm Airbus for aluminum sheet and plate products, a deal worth around $1 billion over its life, the U.S. producer said.