"Wallstreet" Reader

"Wallstreet" Reader

Asian Shares Mixed; Greece Optimism Tempered by Caution

Posted: 29 Jun 2011 07:05 PM PDT

Asian stock markets were mixed, with sentiment supported by the passage of a crucial package of austerity measures in Greece, although many investors were cautious until a final resolution was in place. Japan's Nikkei Stock Average was flat.

SEC Pushes to Level Swaps Playing Field

Posted: 29 Jun 2011 04:50 PM PDT

U.S. securities regulators issued draft proposals aimed at protecting investors in some of the complex financial instruments blamed for exacerbating the financial crisis.

Oracle Buys Ellison's Start-Up

Posted: 29 Jun 2011 05:42 PM PDT

Oracle said it is buying Pillar Data Systems, a storage start-up where Oracle chief Larry Ellison is the principal owner and biggest creditor. Oracle didn't provide a value for the acquisition.

As QE2 Sets Sail, Bond Rally Sinks

Posted: 29 Jun 2011 07:54 PM PDT

Just as the Federal Reserve is about to step away from the Treasurys market, a months-long rally is showing signs of pulling back.

Kraft Spiffs Up Its Old Brands

Posted: 29 Jun 2011 05:55 PM PDT

Marketer turns to Twitter, Facebook, and edgy ads to shuck stodgy image and sell more Mac & Cheese.

Agency Blames Massey for Fatal Mine Disaster

Posted: 29 Jun 2011 05:58 PM PDT

Massey could have prevented the West Virginia mine explosion that killed 29 workers last year and the company failed to disclose some hazards in reports it provided to government inspectors, federal safety officials said.

Full Tilt Poker Site Shut

Posted: 29 Jun 2011 07:23 PM PDT

A gaming commission in Britain's Channel Islands shut down Full Tilt Poker, one of the world's most popular poker websites, ratcheting up pressure on an industry already reeling from a crackdown by the U.S.

German Painters Boost Sotheby's Sales

Posted: 29 Jun 2011 06:13 PM PDT

A collection of early works by postwar German painters like Sigmar Polke and Gerhard Richter boosted Sotheby's $174.1 million sale of contemporary art in London.

Obama Targets Tax Breaks

Posted: 29 Jun 2011 05:46 PM PDT

Obama made the case for ending certain tax breaks for "millionaires and billionaires" in a deal to keep the U.S. government from defaulting on its debt, sharpening his tone with just weeks left for Democrats and Republicans to reach an agreement.

Pay Tally Up 19% for Finance Chiefs

Posted: 29 Jun 2011 06:06 PM PDT

Median pay for chief financial officers of S&P 500 companies surged 19% to $2.9 million last year, according to a Wall Street Journal survey.

Bad Mortgages Weigh on Banks

Posted: 29 Jun 2011 06:47 PM PDT

U.S. banks hold a much higher rate of defaulted mortgages on their books than do mortgage giants Fannie Mae and Freddie Mac, according to a report issued by the Office of the Comptroller of the Currency.

California Online Tax Law Pressures Amazon

Posted: 29 Jun 2011 06:16 PM PDT

Amazon.com may soon have to collect sales taxes in California after an online tax-collection bill was signed by the governor. Amazon said the law won't change anything about its California business. A spokeswoman declined to comment on whether Amazon would challenge the law.

Caterpillar Girds for a Challenger

Posted: 29 Jun 2011 03:57 PM PDT

Caterpillar expects a new rival in the heavy machinery sector to come out of China "in the next few years", according to the U.S. heavy-machinery maker's CEO.

American Air Plans Big Jet Purchase

Posted: 29 Jun 2011 04:34 PM PDT

American Airlines is in active negotiations with rival jet makers Airbus and Boeing to replace its domestic fleet with at least 250 aircraft, a deal valued at about $15 billion.

Callaway CEO Resigns

Posted: 29 Jun 2011 02:45 PM PDT

Callaway Golf said its chief executive resigned, as the golf-equipment maker issued a weak outlook and signaled job cuts.

J.P. Morgan Taps Urwin for Global Banking Post

Posted: 29 Jun 2011 01:59 PM PDT

J.P. Morgan Chase named Jeff Urwin as head of global investment-banking coverage, a new role that the bank hopes will further increase the global scope of its operations.

Univision Elevates Operating Chief to CEO

Posted: 29 Jun 2011 04:31 PM PDT

Univision appointed operating chief Randy Falco as CEO, capping a three-month search at the Spanish-language broadcaster.

Italy May Raise Trading Tax

Posted: 29 Jun 2011 01:16 PM PDT

Italy's government is considering raising a tax on the money earned by banks from proprietary trading to 35% as it works on the final draft of its three-year budget plan.

Goldman Warns of Layoffs

Posted: 29 Jun 2011 01:58 PM PDT

Goldman Sachs has notified the New York State Department of Labor that the investment bank could lay off 230 employees, citing economic reasons.

FDA Panel Deals Blow to Roche's Avastin

Posted: 29 Jun 2011 07:23 PM PDT

An advisory committee of the FDA voted 6-0 that approval of the drug Avastin as a breast-cancer treatment should be revoked, handing a defeat to Avastin maker Roche.