"Wallstreet" Reader

"Wallstreet" Reader

Tribune Says Judge Clears Path to Exit Chapter 11

Posted: 13 Jul 2012 05:57 PM PDT

Tribune Co. said a judge cleared the way for it to emerge from bankruptcy protection, handing the media conglomerate to creditors and capping a turbulent three-and-a-half year trip under Chapter 11 protection.

U.S. Undecided on Switch to Global Accounting

Posted: 13 Jul 2012 05:33 PM PDT

Regulators still haven't decided whether the U.S. should switch to global accounting rules, but it appears they're leaning against an all-out changeover and would likely use a compromise approach if they shift at all, a new report indicates.

Lopez Follows Tyler Off 'Idol'

Posted: 13 Jul 2012 06:38 PM PDT

Jennifer Lopez followed Steven Tyler in departing "American Idol" on Friday, amid signs that a major overhaul of the aging show could be under way.

Apollo Weighs Bid For McGraw Unit

Posted: 13 Jul 2012 06:32 PM PDT

Private-equity firm Apollo Global Management is exploring a bid for McGraw-Hill Education, the struggling textbook publisher due to be spun out of McGraw-Hill Cos. by year's end.

San Bernardino Faces Criminal Probe

Posted: 13 Jul 2012 06:31 PM PDT

Law-enforcement officials said they have launched a criminal investigation of San Bernardino city government, which voted to seek bankruptcy protection earlier this week.

J.P. Morgan 'Whale' Report Signals Deeper Problem

Posted: 13 Jul 2012 06:11 PM PDT

J.P. Morgan Chase said traders appear to have hidden problems in a portfolio whose losses have ballooned to $5.8 billion.

Apple Rejoins Green Registry

Posted: 13 Jul 2012 01:07 PM PDT

Apple said it was re-registering its products with a voluntary registry of green electronics, reversing course after a flood of criticism.

Starbucks Breaks Ground for Georgia Plant

Posted: 13 Jul 2012 11:17 AM PDT

Starbucks is building its first company-owned factory to make soluble products in the U.S., a move the coffee giant says will lower its distribution costs and allow for more innovation.

Peregrine CEO's Dramatic Confession

Posted: 13 Jul 2012 06:56 PM PDT

In a signed statement found in Russell Wasendorf Sr.'s car after he attempted suicide, the PFGBest head wrote: "I have committed fraud."

Hicks, Appleton Papers End Merger Deal

Posted: 13 Jul 2012 09:03 AM PDT

Hicks Acquisition Co. II and coated-paper maker Appleton Papers mutually agreed to terminate their $675 million merger, citing volatile market conditions.

Ford's Europe Sales Dive

Posted: 13 Jul 2012 09:24 AM PDT

Ford Motor said its new car sales in Europe fell 16% in June, considerably worse than the overall market.

Fed Aware of Libor Problems in Fall 2007

Posted: 13 Jul 2012 11:20 AM PDT

The Federal Reserve Bank of New York said central-bank officials were concerned about the veracity of the London interbank offered rate in late 2007.


Wells Fargo Boosted by Real Estate

Posted: 13 Jul 2012 05:42 PM PDT

The nation's largest mortgage lender said revenue from mortgage banking jumped almost 80% and consumers borrowed more on their credit cards. But it called the economic recovery uneven.

Euro-Zone Banks Cut Back Lending

Posted: 13 Jul 2012 07:22 PM PDT

Spanish banks' borrowing from the ECB rose at the fastest pace in three months, amid increased stress on lenders. Data show banks in the north are not lending to their peers in the south.


U.S. Producer Prices Inch Higher

Posted: 13 Jul 2012 06:03 AM PDT

U.S. wholesale prices rose 0.1% in June, the first increase in four months, though overall inflation pressures appear tame.

Blackstone, Hovnanian in Land-Banking Deal

Posted: 13 Jul 2012 10:39 AM PDT

Hovnanian Enterprises will join with the credit arm of Blackstone in a land-banking deal for up to $125 million designed to help the cash-strapped home-building company capitalize on a recovering housing market.

Emails Put Focus on BOE Libor Claims

Posted: 13 Jul 2012 09:04 AM PDT

The Bank of England released a series of emails that appear to undercut the contention of deputy governor Paul Tucker that he was unaware of questions about the integrity of a key interest rate.


China's Growth Slows to 7.6%

Posted: 13 Jul 2012 09:19 AM PDT

China's GDP growth decelerated to its slowest pace since the global financial crisis, damping hopes that the world's second largest economy will provide much support for the faltering global economy.

Italy Auction Provides Relief

Posted: 13 Jul 2012 03:32 AM PDT

Solid domestic demand helped Italy to auction three-year debt with lower borrowing costs than at a similar auction last month, even despite the tough backdrop of a two-notch downgrade of Italian debt overnight.

Share-Price Drop Accents Peugeot's Woes

Posted: 13 Jul 2012 12:01 PM PDT

Peugeot shares sank as a potential credit downgrade highlighted the auto maker's worsening outlook, while its chief executive pressed his case for further cost cutting.