"Wallstreet" Reader

"Wallstreet" Reader

U.S. Guarantees Stir Debate

Posted: 31 Jul 2012 06:23 PM PDT

Small banks and big mutual-fund firms are clashing over the fate of a program that gives unlimited federal guarantees to $1.3 trillion in zero-interest bank deposits largely from companies and municipalities.

Asian Shares Decline

Posted: 31 Jul 2012 07:05 PM PDT

Asian markets declined Wednesday amid caution as investors awaited the outcomes of meetings of two major central banks. The Nikkei was down 1.3%.

SEC Seeks Muni Market Controls

Posted: 31 Jul 2012 06:57 PM PDT

The SEC asked Congress for authority to crack down on municipalities that raise money from investors but don't keep the public apprised of their financial health.

Electronic Arts to Make Key Game Free

Posted: 31 Jul 2012 06:27 PM PDT

Electronic Arts said it will make a key videogame free for players following struggles to gain traction with a subscription model.

China Manufacturing Activity Slows

Posted: 31 Jul 2012 06:15 PM PDT

China's official manufacturing Purchasing Managers Index fell slightly to 50.1 in July compared with 50.2 in June, the third consecutive month of decline.

Lebanese Case Tests Bank Privacy Law

Posted: 31 Jul 2012 05:16 PM PDT

A judge's looming decision in a case that has snarled a fugitive Lebanese woman and eight financial firms could challenge how bank-privacy laws are interpreted in the U.S.

Gauging the Triggers to Fed Action

Posted: 31 Jul 2012 05:50 PM PDT

The Federal Reserve's unconventional measures to boost the recovery in recent years have followed a pattern in benchmarks of the economy's health.

AIG Buying Hartford Financial Brokerage Unit

Posted: 31 Jul 2012 06:15 PM PDT

American International Group has agreed to buy a broker-dealer business from Hartford Financial Services Group, a rival that is divesting itself of numerous businesses amid pressure from some shareholders.

Enbridge Blocked From Restarting Pipeline

Posted: 31 Jul 2012 04:16 PM PDT

U.S. regulators prohibited Enbridge from restarting an oil pipeline in Wisconsin, saying the Canadian pipeline company must perform additional tests following a spill.

Genetically Modified Tires

Posted: 31 Jul 2012 05:18 PM PDT

Genetically-modified crops' tougher stalks are taking a toll on tractor tires, prompting farmers to turn to replacements using Kevlar belts that better resist punctures.


Lead Bid Emerges for T-Mobile Tower

Posted: 31 Jul 2012 07:05 PM PDT

Cellphone tower operator Crown Castle has emerged as the lead bidder for towers being sold by T-Mobile. A deal for more than $2 billion could be struck soon.

Japan's Biggest Banks Post Contrasting Results

Posted: 31 Jul 2012 04:04 PM PDT

Mitsubishi UFJ Financial Group's quarterly net profit slid 63%, while Mizuho Financial Group's profit nearly doubled.


Retailers Bulk Up on Appliances

Posted: 31 Jul 2012 04:17 PM PDT

Retailers are escalating their competition to sell appliances because many shoppers still prefer to buy the bulky products in person, with a growing number of stores trying to lure shoppers with high-end products and expanding space for appliances.

Insider-Trading Trial Kicks Off for Fund Manager

Posted: 31 Jul 2012 03:25 PM PDT

Prosecutors told jurors Tuesday that a Northern California hedge-fund manager improperly sought out inside information about Google and other technology firms in hopes of gaining an "edge" over other investors, but his defense lawyer said he had legitimate reasons for doing so.

News Corp.'s Tablet Daily Cuts Staff

Posted: 31 Jul 2012 03:09 PM PDT

The Daily, News Corp.'s experiment with a tablet-only daily newspaper, laid off 50 people, or nearly a third of its staff, about 18 months after its launch.

MGM Film Studio to Buy Out Icahn

Posted: 31 Jul 2012 03:04 PM PDT

The parent of MGM reached a deal to pay investor Carl Icahn more than $590 million for all his shares in the film studio, as the company makes preparations to go public.

Options Traders Gird for End of Facebook Lockups

Posted: 31 Jul 2012 02:25 PM PDT

Options traders are betting Facebook's shares will face new headwinds as investor-lockup periods end in the coming weeks.

AIG Buying Hartford Financial Group Brokerage Unit

Posted: 31 Jul 2012 03:58 PM PDT

AIG will pay up to $90 million for Woodbury Financial Services, an independent broker-dealer based in Minnesota with some 1,400 financial advisers.

Vestas Posts Loss; Credit Deal Is Set

Posted: 31 Jul 2012 03:58 PM PDT

Vestas Wind Systems of Denmark swung to a second-quarter net loss, and the wind-turbine maker also said it won a critical credit-line agreement from the company's banks.

Wasendorf Son Subpoenaed

Posted: 31 Jul 2012 07:06 PM PDT

Russell Wasendorf Jr., president of Peregrine Financial Group, has been subpoenaed to appear before a federal grand jury investigating the alleged wrongdoing that led to the brokerage's collapse.