"Wallstreet" Reader

"Wallstreet" Reader

Smoking June for Hedge Funds

Posted: 07 Jul 2011 05:57 PM PDT

Tobacco bonds were stars in June, rising an average of 10% with some up more than 60%. The big beneficiaries were hedge funds that scooped them up after many muni-bond funds were forced to sell months earlier, often at a big loss.

Ganging Up on Internet Pirates

Posted: 07 Jul 2011 06:26 PM PDT

Internet users who upload and download pirated movies and music online may soon be getting an unpleasant surprise: Warnings from their service providers that detail their alleged copyright infringement and threaten action if they don't stop.

A 'Yes' in Say on Pay

Posted: 07 Jul 2011 05:15 PM PDT

Congress gave shareholders a new "say on pay" over executive compensation. And the returns are in: At 98.5% of companies, the answer was yes.

As Web IPOs Hit, Few Share the Spoils

Posted: 07 Jul 2011 06:50 PM PDT

Silicon Valley's technology boom is giving a lift to the venture-capital industry. But many of the gains are being disproportionately reaped by brand-name venture firms.

S&P Lifts California's Outlook

Posted: 07 Jul 2011 03:10 PM PDT

Standard & Poor's revised California's ratings outlook to "stable" from "negative," in a move that could extend the rally of the state's bonds.

FDA's Drug-Approval Rate Rising

Posted: 07 Jul 2011 12:49 PM PDT

The FDA has approved 20 new drugs so far this year, just one short of the total for all of 2010, according to a top agency official.

Renault Electric Vehicle Program Hits Delay

Posted: 07 Jul 2011 11:37 AM PDT

French auto maker Renault will delay the start of production at a French car battery plant to 2014, from an original plan of 2012, illustrating the difficulties in its ambitious electric-vehicle program.

J.P. Morgan Settles Bid-Rig Case

Posted: 07 Jul 2011 04:29 PM PDT

J.P. Morgan Chase agreed to a $228 million settlement to charges that it rigged nearly 100 transactions involving municipal-bond auctions, the SEC, Department of Justice and Connecticut attorney general said.

CFTC Expands Power to Pursue Fraud

Posted: 07 Jul 2011 04:25 PM PDT

Commodity regulators voted 5-0 to approve a rule that expands their ability to pursue fraud and manipulation in the derivatives markets they regulate.

German Industrial Output Rises

Posted: 07 Jul 2011 09:31 AM PDT

German industrial output rose in May as the economic upturn in Europe's biggest economy continued, data showed.

News Corp. to Close Scandal-Plagued Tabloid

Posted: 07 Jul 2011 09:51 AM PDT

News Corp. said it would close its scandal-tainted News of the World weekly tabloid newspaper.

Benchmarks Brighten Outlook for Job Market

Posted: 07 Jul 2011 07:40 PM PDT

Private businesses added a stronger number of jobs in June than expected, according to ADP, while new claims for jobless benefits fell last week.

Rich Russians Move Cash to Europe

Posted: 07 Jul 2011 07:42 AM PDT

Concerned by a slow economic recovery and political change in Moscow, Russia's wealthy business leaders are increasingly eyeing assets in Europe, focusing on prime real estate that is viewed as safer even than cash, a recent survey said.

BofA Deal Seen Breaking Mortgage Market Logjam

Posted: 07 Jul 2011 09:47 AM PDT

Bank of America's plan to resolve investor complaints about how it treats troubled homeowners and foreclosed properties is a significant move, a BlackRock money manager said.

EBay to BuysMobile-Payments Firm Zong

Posted: 07 Jul 2011 03:55 PM PDT

PayPal owner EBay Inc. agreed to acquire closely held Zong for about $240 million, as the e-commerce giant moves to strengthen its position in the fast-growing mobile payments and digital goods market.

Saab Production Restart Delayed

Posted: 07 Jul 2011 05:12 PM PDT

Swedish auto maker Saab delayed the resumption of production until Aug. 9 over continued parts shortages, having last week signaled it would restart manufacturing within two weeks.

Retailers to Rein In Discounts

Posted: 07 Jul 2011 04:56 PM PDT

Retailers reported solid sales for June, although the gains were aided by significant promotions. Macy's, Kohl's, Target, Costco and Limited Brands were among those that beat estimates.

Banks Meet Over Greek Rescue

Posted: 07 Jul 2011 08:34 AM PDT

Bankers and investors are to meet for the second day in a row Thursday, this time in Rome, as talks about rolling over Greek debt explore more aggressive solutions—even one that triggers a default.

NYSE Deal Clears Another Hurdle

Posted: 07 Jul 2011 04:02 PM PDT

NYSE Euronext investor-owners approved a plan to merge with German exchange operator Deutsche Börse, moving ahead a plan to create the biggest exchange group in the world.

Goldman Warns That Tight Supply Will Lift Oil Prices

Posted: 07 Jul 2011 09:04 AM PDT

Goldman Sachs warned that oil supplies will become "critically tight" in 2012, largely because production kingpin Saudi Arabia won't be able to pump as much extra oil as many people believe.