"Wallstreet" Reader

"Wallstreet" Reader

China Price Watchers Predict Another Peak

Posted: 08 Jul 2011 07:17 PM PDT

Economists are predicting that China's surging inflation is about to hit its peak and start subsiding, which could augur a halt to the government's efforts to tap the brakes on the world's No. 2 economy.

Exxon Gets Deadline for Montana Cleanup

Posted: 08 Jul 2011 05:40 PM PDT

Exxon was given two months to clean up oil from a ruptured pipeline along the Yellowstone River as it faces mounting questions about its handling of the accident.

China's Corn Hunger Turns Market on Ear

Posted: 08 Jul 2011 05:42 PM PDT

A Chinese buying spree for U.S. corn is putting on display the ability of Beijing to reshape grain markets as well as the cost of food globally.

Jury Favors KBR in Rape Trial

Posted: 08 Jul 2011 05:28 PM PDT

A jury found in favor of defense contractor KBR, determining that it had not defrauded a former employee and that she had not been sexually assaulted by a co-worker.

Insurers, Investors Fight Over Death Bets

Posted: 08 Jul 2011 06:08 PM PDT

Hundreds of disputes are playing out in the legal wreckage caused by the collapse in what was once a booming secondary market for life-insurance policies. A key issue: Did insurers do enough to vet applications?

Poor Jobs Report Dings the Dow

Posted: 08 Jul 2011 03:34 PM PDT

Stocks fell and Treasury bond prices rose after the monthly jobs report raised fresh doubts about the strength of the economy. But a report on consumer borrowing helped the market pare losses late.

Google's Schmidt to Testify in Senate

Posted: 08 Jul 2011 04:49 PM PDT

Google's chairman will testify before the Senate antitrust panel in September to address the company's growing dominance of the Internet.

LivingSocial Seeks $1 Billion IPO

Posted: 08 Jul 2011 05:57 PM PDT

LivingSocial has selected bankers for an IPO that seeks to raise $1 billion and value the online coupon website between $10 billion and $15 billion.

Music Service Spotify Aims for U.S. Launch Next Week

Posted: 08 Jul 2011 04:41 PM PDT

Spotify has told record label executives that it is aiming to launch its music-streaming service in the U.S. as early as the middle of next week, after months of delays.

Near Default, Quiznos Taps Advisers

Posted: 08 Jul 2011 04:27 PM PDT

The Quiznos sandwich chain has brought in restructuring advisers to help streamline its finances amid a slump in sales and a looming debt default.

Apple to GetJar: Drop App Store

Posted: 08 Jul 2011 01:10 PM PDT

Apple stepped up its effort to control the App Store trademark, pressing wireless-application store operator GetJar to stop using the term.

Japan Examines Future of Tepco

Posted: 08 Jul 2011 12:48 PM PDT

A government-led panel looking into the future of Tepco is keen to wrest monopoly power away from the utility, but has for now put aside more radical proposals to break it up and sell key assets.

Bank Fails Slow, Backlog Looms

Posted: 08 Jul 2011 05:32 PM PDT

U.S. bank failures have slowed in 2011 from the flood of recent years, but a large reservoir of problem banks will keep the failure rate relatively high as regulators slog through the backlog.

Einhorn Gives Up on Yahoo

Posted: 08 Jul 2011 02:35 PM PDT

David Einhorn hedge fund Greenlight Capital said it has exited an investment in Yahoo made earlier this year with "a modest loss," as the value of the Internet company's Chinese assets came into doubt.

Deutsche Bank Nears CEO Decision

Posted: 08 Jul 2011 06:04 PM PDT

Deutsche Bank could tap a successor to Chief Executive Josef Ackermann as early as this weekend as the bank's board scrambles to end months of uncertainty over who will next lead the bank.

NFL Hopes to End Lockout in Coming Days

Posted: 08 Jul 2011 01:16 PM PDT

NFL owners and players hope to hammer out an agreement ending their four-month-old labor dispute in the coming days, in a move that would save the upcoming football season and put the $9.4 billion business back on track.

Exxon Hit by Reversal in Human-Rights Case

Posted: 08 Jul 2011 04:38 PM PDT

A federal appeals court reinstated a lawsuit against Exxon Mobil that claimed the energy company was complicit in human rights violations in Indonesia. It ruled that corporations can be held liable under the Alien Tort Statute.

Jobs Report Dims Hopes for Recovery

Posted: 08 Jul 2011 08:35 AM PDT

The U.S. economy added 18,000 jobs in June, far fewer than expected. The unemployment rate rose to 9.2%, the highest this year.

Italy's Political, Debt Woes Hit Markets

Posted: 08 Jul 2011 06:40 PM PDT

Europe's sovereign-debt crisis washed up on Italy's shores on Friday as concerns about the country's banks and debt drove up the cost of insuring Italian debt against default and pummeled stocks.

Boeing, DAE in Cancellation Talks

Posted: 08 Jul 2011 09:18 AM PDT

U.S. aircraft manufacturer Boeing is in talks with Dubai Aerospace Enterprise about whether the lessor plans to cancel orders, after it scrapped plans to buy planes from Airbus.