"Wallstreet" Reader

"Wallstreet" Reader


Claw Comes Out at J.P. Morgan

Posted: 10 Jul 2012 06:00 PM PDT

The bank, under CEO James Dimon, is expected to reclaim millions in stock from the "London whale" and other officials responsible for billions in trading losses.


Asian Stocks Drop

Posted: 10 Jul 2012 06:37 PM PDT

Asian stocks dropped early on Wednesday, with Australia down 0.3%, as concerns over Italy's debt and U.S. corporate earnings damaged regional sentiment.


Money-Fund Buffer May Be Set at Under 1%

Posted: 10 Jul 2012 06:24 PM PDT

The Securities and Exchange Commission is considering requiring money-market mutual-funds to hold a "small" capital buffer of less than 1% of the overall value of a fund's holdings, a senior SEC official said Tuesday.


Firms Dash to Debt Market

Posted: 10 Jul 2012 05:51 PM PDT

High-grade companies scurried to issue nearly $9 billion of bonds Tuesday to exploit some of the lowest borrowing costs on record.

For Most, Tax Rates Hit Lows in 2009

Posted: 10 Jul 2012 05:36 PM PDT

Average federal tax rates paid by Americans in many income groups fell to record levels in 2009, but rose for the top 1% of earners, according to new data from the CBO.

Paulson Ally Caught in Fund's Slide

Posted: 10 Jul 2012 05:45 PM PDT

A former employee who helped John Paulson make billions has lost a large chunk of his personal portfolio by investing with his old boss.

U.S. to Allow Media Equipment at Data Releases

Posted: 10 Jul 2012 04:18 PM PDT

In a shift from a government plan announced this spring, the Department of Labor will allow news organizations to use their own equipment to distribute market-moving economic data.

Traders Take Smaller Bites of Apple

Posted: 10 Jul 2012 07:54 PM PDT

Individual investors, facing triple-digit prices for shares of the iPad maker and Google, among others, increasingly are turning to options as a cheaper way to trade.


BP, Shell Face Alaska Setbacks

Posted: 10 Jul 2012 05:03 PM PDT

BP's and Royal Dutch Shell's plans to develop offshore oil in Alaska's Arctic frontier are facing setbacks, as they meet with stricter scrutiny and rising costs stemming from the 2010 Gulf of Mexico oil spill..

BET Founder Says Cable-TV Pricing Can't Continue

Posted: 10 Jul 2012 02:02 PM PDT

Robert Johnson, founder of the BET cable channel, speaking to reporters at the Sun Valley conference, said online video alternatives will make it harder for cable operators to sell traditional packages of TV channels at ever-rising prices.

Spain to Give Up Control of Banks Under Bailout

Posted: 10 Jul 2012 02:55 PM PDT

Spain will be forced to give up most of the control over its banks—and will be required to impose losses on local investors—in return for a European bailout of as much as €100 billion ($123 billion), according to the draft agreement accompanying the rescue.

Lehman Judge Sides With Trustee in 'Soft-Dollar' Fight

Posted: 10 Jul 2012 01:00 PM PDT

A bankruptcy judge ruled that a group of more than 20 hedge funds and money managers can't jump ahead of creditors of Lehman Brothers' brokerage arm in the order to be repaid.

Enbridge, U.S. Faulted for Michigan Oil Spill

Posted: 10 Jul 2012 04:52 PM PDT

Safety lapses by pipeline company Enbridge and "weak regulation" by the U.S. are to blame for the 2010 Michigan oil spill, the NTSB said.

Levi's Profit Falls 38%

Posted: 10 Jul 2012 01:24 PM PDT

Levi Strauss's fiscal second-quarter profit slid 38% as the jeans maker's revenue declined in Asia and Europe and as cotton costs continued to increase.

J.C. Penney Cuts 350 More Home-Office Jobs

Posted: 10 Jul 2012 01:24 PM PDT

J.C. Penney Co. will cut an additional 350 jobs at its headquarters, in what the department-store retailer called the final phase of its home-office restructuring efforts.

Duke Energy's Rogers Says CEO's Style Troubled Board

Posted: 10 Jul 2012 06:32 PM PDT

Duke Energy Chief Executive Jim Rogers told North Carolina regulators that he didn't orchestrate the boardroom drama last week when Duke's board abruptly removed the company's newly installed CEO.


AMR Opens Door to a Merger

Posted: 10 Jul 2012 05:54 PM PDT

American Airlines parent AMR plans to formally sound out potential merger partners, setting the stage for a showdown over its path out of bankruptcy.

Blackstone Aims to Shed U.S. Office Portfolio

Posted: 10 Jul 2012 12:30 PM PDT

The move to sell its portfolio, which analysts have valued as high as $22 billion, would signal that one of the property sector's most active buyers is moving into a selling phase as top office markets recover.

Scandal Shakes Trading Firm

Posted: 10 Jul 2012 07:43 PM PDT

Peregrine Financial Group filed for bankruptcy as a deepening scandal left regulators scrambling to find out what happened to about $215 million of customer money allegedly missing from the firm.


Duke Energy CEO Testifies

Posted: 10 Jul 2012 11:43 AM PDT

The abrupt ouster of Duke Energy's CEO just hours after Duke merged with Progress Energy is putting new pressure on North Carolina officials.