"Wallstreet" Reader

"Wallstreet" Reader

Asian Shares Mixed

Posted: 16 Aug 2012 06:52 PM PDT

Asian markets were mixed early Friday as supportive comments from German Chancellor Angela Merkel helped sentiment.

Ex-Dewey Partners Agree to 'Clawback'

Posted: 16 Aug 2012 06:15 PM PDT

Former partners from defunct Dewey & LeBoeuf have agreed to give back at least $50 million in past earnings in exchange for immunity from lawsuits relating to the law firm's demise.

Facebook Investors Cash Out

Posted: 16 Aug 2012 07:10 PM PDT

Facebook's stock price plumbed a new low Thursday as early investors were freed to sell some of their stakes. CEO Mark Zuckerberg is no longer brushing off concern, acknowledging to employees for the first time that the selloff could be "painful."

'Broken' Fund Shifts the Blame

Posted: 16 Aug 2012 07:10 PM PDT

Bruce R. Bent, whose money fund 'broke the buck' when Lehman Brothers went bankrupt in 2008, says jurors in his trial should hear about the government's refusal to bail out Lehman.

Seeing Red Over a Ketchup Packet

Posted: 16 Aug 2012 05:32 PM PDT

Heinz is being sued by a fast-food loving Chicago inventor who said it was his idea to create a ketchup packet that could be opened two different ways, depending on whether it's needed for fries or a burger.

Deutsche Bank Exec Claims LAPD Brutality

Posted: 16 Aug 2012 03:30 PM PDT

A media banker says he was illegally detained by police and beaten when he tried to escape.

Kodak Auction Makes Odd Bedfellows

Posted: 16 Aug 2012 04:27 PM PDT

Kodak's auction of intellectual property has unexpectedly turned the fiercest rivals—such as Apple and Google—into potential collaborators.

Time, CNN Reinstate Zakaria

Posted: 16 Aug 2012 06:47 PM PDT

Time magazine and CNN reinstated foreign-policy journalist Fareed Zakaria, after looking into alleged plagiarism. Time said the one incident was "unintentional" and CNN said it found nothing to merit continued suspension.

ASX Open to an Equal Merger

Posted: 16 Aug 2012 03:37 PM PDT

Australia's biggest bourse operator is open to buying an overseas exchange or pursuing a merger of equals after its failed tie-up with Singapore Exchange, ASX's chief executive said.

Domestic Demand Supports Mexican Growth

Posted: 16 Aug 2012 03:26 PM PDT

Mexico's economy grew 4.1% year-on-year in the April-June quarter as resilient domestic demand and election-related spending helped offset a slowdown in exports.

M&T Bank to Exit TARP, via Backdoor

Posted: 16 Aug 2012 02:08 PM PDT

The U.S. Treasury said it will sell preferred shares of M&T Bank, likely allowing the regional bank to exit the Troubled Asset Relief Program without diluting common shareholders' stock.

Hi-Crush Soars After Cutting IPO Price

Posted: 16 Aug 2012 02:48 PM PDT

Shares of the Houston firm jumped 18% in the first day of trading.

Spain's Santander to List Up to 25% of Mexican Unit

Posted: 16 Aug 2012 02:31 PM PDT

Spain's Banco Santander plans to sell up to 25% of its Mexican unit via a dual public offering on the Mexican stock exchange and New York Stock Exchanges.

Hanwha Chairman Gets 4-Year Sentence

Posted: 16 Aug 2012 02:04 PM PDT

A court sentenced the leader of Hanwha Group, one of South Korea's largest businesses, to four years in prison for embezzlement and sent him straight there, a move that stunned observers.

Oracle Settles Bribery-Law Case

Posted: 16 Aug 2012 05:15 PM PDT

Oracle paid $2 million to settle SEC accusations that an Indian subsidiary of the software company violated U.S. laws designed to prevent bribery overseas.

Gap Profit Up 29%; Forecast Raised

Posted: 16 Aug 2012 06:57 PM PDT

Gap posted a better-than-expected 29% increase in second-quarter profit and raised its full-year earnings outlook on stronger sales and margins.

FDA Orders Review of Heart Devices

Posted: 16 Aug 2012 05:42 PM PDT

The FDA ordered St. Jude Medical to launch new studies gauging the scope of heart-device failures that have plagued the company for months.

To Forestall Seizure, Some Banks Turn to Bankruptcy

Posted: 16 Aug 2012 12:05 PM PDT

Premier Bank Holding filed for Chapter 11 protection earlier this week in the latest example of an unusual strategy—turning to bankruptcy when regulatory seizure appears imminent.

FDA Setback for Hepatitis Drug

Posted: 16 Aug 2012 11:54 AM PDT

Regulators dealt Idenix Pharmaceuticals a setback, placing a partial hold on further trials of its hepatitis C drug.

BlackRock Tiptoes Into Spain's Debt

Posted: 16 Aug 2012 11:18 AM PDT

The world's biggest money manager has dipped its toes into Spain's battered government debt market in recent weeks, but its top fund manager remains cautious about the euro zone's troubled debt markets.