"Wallstreet" Reader

"Wallstreet" Reader

Apple, Europe Dent Asian Markets

Posted: 24 Jul 2012 06:34 PM PDT

Asian markets fell on Wednesday on concerns over Europe's debt crisis, with disappointing Apple earnings in the U.S. pushing down technology manufacturers. The Nikkei was down 1.5%.

Guilty Plea Expected in Insider Case

Posted: 24 Jul 2012 06:48 PM PDT

A research consultant accused of obtaining confidential information from technology-company insiders and selling it to hedge funds and other clients is expected to plead guilty to criminal charges.

European Crisis Seen Spreading to Russia

Posted: 24 Jul 2012 06:06 PM PDT

Russia's economy is set to succumb to the baleful effects of the euro zone's fiscal and banking crises as commodity prices fall, the European Bank for Reconstruction and Development said Wednesday.

Gas Futures Hit New 2012 High

Posted: 24 Jul 2012 12:53 PM PDT

Natural-gas prices rose to the highest settlement in seven months, with forecasts of extreme heat supporting hopes that demand for gas-powered electricity will stay strong.

Germans React Coolly to Moody's Warning

Posted: 24 Jul 2012 05:32 PM PDT

A warning that the euro crisis could cost Germany its triple-A credit rating is stepping up pressure on Merkel to take bolder action, but also stiffening domestic opposition to further bailouts, including within her ruling coalition.

A Silence Hangs Over Gay CEOs

Posted: 24 Jul 2012 04:47 PM PDT

Some top executives are tiptoeing out of the closet. But if it is becoming more acceptable to be gay in corporate life, why do so many senior executives keep their sexuality a secret?


EU Solar Firms Seek Tariffs on China

Posted: 24 Jul 2012 01:49 PM PDT

European solar-panel makers filed a confidential complaint with the European Commission seeking import tariffs on Chinese-made panels, opening a new front in the battle over renewable-energy products.

Morgan Stanley, Citi Hire Perella for Brokerage Appraisal

Posted: 24 Jul 2012 01:04 PM PDT

Morgan Stanley and Citigroup have chosen investment bank Perella Weinberg Partners to appraise the value of their brokerage joint venture.

CFTC Details Swaps Proposal

Posted: 24 Jul 2012 06:53 PM PDT

The contracts that led to billions in losses at J.P. Morgan are among the derivatives products singled out by U.S. regulators for mandatory trading through clearinghouses, part of a new regulatory system for derivatives.

Rome Orders Sicily into Fiscal Rehabilitation

Posted: 24 Jul 2012 07:43 PM PDT

Italian Prime Minister Mario Monti is stepping up pressure on Sicily to tighten its spending as the government seeks to stave off any prospect that the island, one of Italy's poorest regions, risks insolvency.


Nexen Deal May Spark China Surge

Posted: 24 Jul 2012 06:38 PM PDT

Cnooc shook up the oil patch with its $15.1 billion deal to acquire Canada's Nexen. There's likely to be more shaking to come.

Falling Global Rates Boost Appeal of Japan

Posted: 24 Jul 2012 07:50 PM PDT

Foreign investors are increasingly pouring money into Japan's government-debt market: Foreign ownership has risen to a near-record $970 billion, or 8.3% of the total.


GM Suspends Production at Brazil Factory

Posted: 24 Jul 2012 02:12 PM PDT

GM suspended production for a day at a factory in Brazil citing safety worries and prompting an outcry from the labor union that has been organizing protests against possible layoffs at plant.

New York Fed Sells $3.5 Billion in CDOs

Posted: 24 Jul 2012 10:52 AM PDT

Credit Suisse Group dominated bidding for $3.5 billion of complex mortgage debt sold by the Federal Reserve Bank of New York in the latest auction from the Maiden Lane III portfolio.

AT&T's Profit Up 8.7% on Rising Smartphone Use

Posted: 24 Jul 2012 06:22 PM PDT

AT&T's second-quarter profit rose 8.7%, as the company's wireless division reported its most profitable quarter ever, benefiting from the increased use of smartphones.

Eight Charged In U.K. Phone-Hacking Probe

Posted: 24 Jul 2012 07:33 PM PDT

British prosecutors charged seven former journalists at News Corp.'s News of the World tabloid—including one-time top editors Rebekah Brooks and Andy Coulson—with phone-hacking related offenses. A private investigator who worked for the paper also was charged.


Investment Banks Cutting Jobs in Asia

Posted: 24 Jul 2012 05:24 PM PDT

Global investment banks are ramping up their job cuts in Asia as the slowing economy, weak trading and stiff competition undercut the growth expectations they had for the region.

Ford Motor Has European Blues

Posted: 24 Jul 2012 10:10 AM PDT

Ford's second-quarter results, due out Wednesday, are expected to show a sharp drop in earnings as losses in Europe and other overseas markets undercut its North American profit.

Libor Probe Expands to Bank Traders

Posted: 24 Jul 2012 12:52 PM PDT

Several groups of traders are under investigation by regulators around the world for allegedly banding together to rig interest rates, people close to the probe said.

TomTom Inks Peugeot Supply Deal

Posted: 24 Jul 2012 12:55 PM PDT

TomTom said it has signed a deal to provide in-car location systems to PSA Peugeot Citroën and remains on track to meet its earnings targets despite a drop in second-quarter revenue.