"Wallstreet" Reader

"Wallstreet" Reader

Phone-Hacking Claims Rattle Tabloid

Posted: 05 Jul 2011 05:45 PM PDT

News Corp. and its News of the World came under intense criticism amid allegations the tabloid hacked into the cellphone of a murdered schoolgirl.

Asia Slips; Hynix Tumbles

Posted: 05 Jul 2011 07:16 PM PDT

Asian stock markets were mostly lower, while Hynix Semiconductor tumbled after Hyundai Heavy Industries said it won't bid for a stake.

Argentine Episode Is Little Comfort for Greece

Posted: 05 Jul 2011 06:06 PM PDT

As Greece's economy strains to cope with towering debt and an overvalued euro, some politicians and economists in Athens are debating the "Argentine solution."

A Pullout by Pensions Hammers a Hedge Fund

Posted: 05 Jul 2011 04:59 PM PDT

Three years ago, FrontPoint was one of the world's most prominent hedge-fund operations, managing $10 billion in assets. Now it has just $1.5 billion.

Greek Rescue Snarled by Sales

Posted: 05 Jul 2011 06:05 PM PDT

Europe's hopes for a significant contribution by private bondholders to a new bailout for Greece are fading, as it becomes clear that banks have sold off a substantial proportion of their Greek government-bond holdings.

For Small Businesses, Recession Isn't Over

Posted: 05 Jul 2011 05:31 PM PDT

The owners of many small businesses say economic uncertainty and inflationary pressures have led them to delay hiring and capital expenditures.

Jobs Study Too Late for Trade Debate

Posted: 05 Jul 2011 06:57 PM PDT

The Department of Labor is four years behind in delivering a study of a program for laid-off workers that is at the center of a dispute jeopardizing trade pacts with South Korea, Colombia and Panama.

Midwest CEO Says Too Early for Hiring

Posted: 05 Jul 2011 04:23 PM PDT

The CEO of Leggett & Platt had expected to be adding hundreds of jobs by now. But with economic growth faltering, he's holding off.

Dimon's Global Growth Pains

Posted: 05 Jul 2011 07:29 PM PDT

J.P. Morgan Chase boss James Dimon is widely hailed as the king of U.S. banking. But he is struggling with a new effort to conquer other parts of the world.

Sellers Brace for New Mortgage Caps

Posted: 05 Jul 2011 05:40 PM PDT

The federal government is readying its first retreat from the mortgage market, with the size of loans eligible for government backing set to decline in October.

Harbinger Capital's Operating Chief Resigns

Posted: 05 Jul 2011 04:06 PM PDT

Hedge-fund firm Harbinger Capital Partners, founded by Philip Falcone, said Tuesday that Peter Jenson has resigned as chief operating officer and director.

Cable-Operator Insight Draws Several Bidders

Posted: 05 Jul 2011 05:43 PM PDT

Insight Communications could have a new owner soon after an auction for the cable operator drew final bids from several companies, including WideOpenWest and Mediacom Communications.

NYSE Holders Seen Backing Merger, Despite Regulatory Questions

Posted: 05 Jul 2011 02:24 PM PDT

NYSE Euronextshareholders are lined up to approve a planned merger with Deutsche Börse that would end 219 years of independence, though concerns linger about how regulators might dilute the claimed benefits of creating the world's largest venue for trading stocks and derivatives.

Bank of Montreal Repays M&I's TARP Debt

Posted: 05 Jul 2011 02:02 PM PDT

The Treasury Department said it has recovered $1.7 billion in bailout money it invested in Marshall & Ilsley, which is being acquired by Bank of Montreal.

Verizon to End Unlimited Data Plans

Posted: 05 Jul 2011 05:25 PM PDT

Verizon Wireless plans to scrap its unlimited data plan for new smartphone subscribers beginning Thursday and replace it with monthly packages that range from $30 to $80.

Glencore CEO Defends Stock

Posted: 05 Jul 2011 06:38 PM PDT

Glencore boss Ivan Glasenberg blamed "external factors" such as the Greek financial crisis for investors' refusal to bid up Glencore stock following its May 18 initial public offering.

Moody's Slashes Portugal Rating to Junk

Posted: 05 Jul 2011 12:50 PM PDT

Portugal received a fresh blow as Moody's downgraded its sovereign debt rating to junk status, saying just like Greece it will likely require further aid.

U.S. Firms Clash Over Accounting Rules

Posted: 05 Jul 2011 05:08 PM PDT

Big and small U.S. companies are at odds over a possible shift to international accounting rules.

Casey Anthony Acquitted of Murder

Posted: 05 Jul 2011 04:08 PM PDT

A Florida jury acquitted Casey Anthony of murdering her 2-year-old daughter, Caylee, but found Anthony guilty of lying to investigators.

Twitter Seeks $7 Billion Valuation

Posted: 05 Jul 2011 06:10 PM PDT

Twitter, the Internet-messaging service, is privately raising hundreds of millions of dollars in a new financing round that values the company at as high as $7 billion.