"Wallstreet" Reader

"Wallstreet" Reader


Big Banks Sweat as Swaps Face Reckoning

Posted: 09 Jul 2012 07:41 PM PDT

Regulators are expected to vote Tuesday on key rules governing the trading of swaps, the financial contracts at the heart of the credit crisis.


Gains Around Asia

Posted: 09 Jul 2012 06:38 PM PDT

Asian stocks crept forward early on Tuesday, though investors were cautious ahead of the conclusion of a meeting of European finance ministers and before economic data from China.

GE Tests Flight Theory

Posted: 09 Jul 2012 06:24 PM PDT

Employees at the General Electric plant in Batesville, Miss., are working on a tricky problem: how to mass produce parts from materials so new to jet engines, and so fragile to work with, that they must first learn by hand how to build them.

Intel to Take Stake in ASML

Posted: 09 Jul 2012 04:57 PM PDT

Intel will invest as much as $4.1 billion in semiconductor-equipment maker ASML, to accelerate chip-making R&D, particularly in search of advances that help lower power consumption.

U.K. House Prices Fall

Posted: 09 Jul 2012 04:02 PM PDT

Tighter credit conditions and a weak economy weighed on U.K. house prices in June, according to the Royal Institution of Chartered Surveyors.

Patriot Coal Files for Bankruptcy Protection

Posted: 09 Jul 2012 03:10 PM PDT

Patriot Coal filed for Chapter 11 bankruptcy protection, a move that comes as the company faces a challenging market for coal.

Chinese Firm Pursues Hawker Beechcraft

Posted: 09 Jul 2012 07:37 PM PDT

A Chinese suitor is in advanced talks to buy the bulk of Hawker Beechcraft's businesses for $1.79 billion and kick off a potential bankruptcy-court auction that could fetch higher offers. But the bid could bring national security concerns.


Philippines Aims to Boost Mining Revenue

Posted: 09 Jul 2012 01:42 PM PDT

The Philippines unveiled a new mining law that aims to generate more revenue from the sector even as it imposed a moratorium on new contracts.

Consumers Ramp Up Borrowing

Posted: 09 Jul 2012 04:36 PM PDT

Consumers are increasing their borrowing, the Federal Reserve said, possibly a sign that households are willing to spend despite the sluggish economy.

Start-Up to Revive Nokia Software

Posted: 09 Jul 2012 12:20 PM PDT

Finnish start-up Jolla plans to unveil a smartphone that runs on Nokia's largely abandoned MeeGo operating system by year-end.

Hedge-Fund Firm Starts Reinsurer

Posted: 09 Jul 2012 03:47 PM PDT

Hedge-fund firm SAC Capital, owned by Steve Cohen, has launched a Bermuda reinsurance company whose assets will be managed by the hedge-fund firm, joining a string of big-name funds to enter the insurance industry in recent months.

Alcoa Pinched by Low Prices

Posted: 09 Jul 2012 05:14 PM PDT

Bellwether Alcoa sank to a slight loss in the second quarter as aluminum prices fell to their lowest levels in more than two years.

Drug Gets Fast-Track Review

Posted: 09 Jul 2012 01:51 PM PDT

The FDA granted J&J and Bayer's anticlotting drug Xarelto a fast-track regulatory review for treating patients with deep vein thrombosis or pulmonary embolism, forms of blood clots.

CFPB Proposes Mortgage Disclosure Form

Posted: 09 Jul 2012 03:28 PM PDT

Mortgage borrowers would receive a concise three-page disclosure of interest rates and fees to help compare loan terms under a proposal by the Consumer Financial Protection Bureau.

Coding Start-Up Raises $100 Million

Posted: 09 Jul 2012 03:49 PM PDT

Software-coding start-up GitHub has raised $100 million in its first round of funding. Venture-capital firm Andreessen Horowitz is leading the financing.

Claims Against Dish's DVR Advance

Posted: 09 Jul 2012 03:45 PM PDT

A federal judge ruled that TV broadcasters' lawsuits against Dish Network over its new ad-skipping feature can proceed in California, while letting some of Dish's claims in a related case proceed in New York.

Spending on Chip Production Gear to Fall 2.6%

Posted: 09 Jul 2012 01:18 PM PDT

Spending on machines for making semiconductor chips will contract 2.6% to $42.4 billion this year, a trade group representing the industry said.

Draghi Signals ECB Can Do More

Posted: 09 Jul 2012 06:37 PM PDT

The European Central Bank is willing to do more if needed to support the euro bloc's struggling economy and banks, ECB President Mario Draghi signaled.

Alabama: Airbus Incentives 'Expensive'

Posted: 09 Jul 2012 11:44 AM PDT

Airbus is to receive $158 million in incentives from Alabama in exchange for establishing its first U.S. jet-assembly plant in the state.


U.K. Regulator Defends Libor Role

Posted: 09 Jul 2012 04:59 PM PDT

A top Bank of England official denied encouraging Barclays executives to submit inaccurate financial information used to calculate a key interest rate, but came under fire from a Parliamentary committee over what he knew about signs the rate was being manipulated..