"Wallstreet" Reader

"Wallstreet" Reader

Audits of Brokers Found Deficient

Posted: 20 Aug 2012 05:03 PM PDT

Audits of broker-dealers have "disturbing" deficiencies, including two instances where the firms that conducted the audits didn't adhere to rules requiring independence among auditors, a new report found.

Asian Stocks Edge Higher

Posted: 20 Aug 2012 07:05 PM PDT

Asian markets mostly gained early Tuesday with foreigner investors buying Korean shares and a mixed earnings picture out of Australia. Japan's Nikkei was down 0.1%.

Buffett's Move Raises Red Flag

Posted: 20 Aug 2012 07:50 PM PDT

The Berkshire Hathaway chairman recently terminated credit-default swaps insuring $8.25 billion of municipal debt, a sign some investors say may indicate he has doubts about the state of municipal finances.

Nike's LeBron Sneakers to Test $300 Limit

Posted: 20 Aug 2012 06:22 PM PDT

Nike is kicking up the prices of its sneakers, counting on the cachet of its trendy footwear to keep customers coming even as many shoppers scrounge for discounts.


Subprime Whodunit a Case of Semantics

Posted: 20 Aug 2012 04:38 PM PDT

The case against former executives of mortgage giant Freddie Mac could hinge on a judge's definition of 'subprime.'

IPO Quiet Time: Banks Can't Let Go

Posted: 20 Aug 2012 07:02 PM PDT

Big Wall Street banks have informally agreed to wait 25 days to issue research on IPOs, fearful of possible legal actions arising from the JOBS Act.

Small Miners Scramble to Unearth Funding

Posted: 20 Aug 2012 06:51 PM PDT

A wave of small and midsize miners are facing a global cash crunch, as commodity prices fall and investors and banks get picky about where they put their money.

Peter Thiel Sells Large Facebook Stake

Posted: 20 Aug 2012 07:53 PM PDT

Peter Thiel, Facebook's earliest investor and a board member, has sold the majority of his shares in the social network, as restrictions on insider selling of the stock begin to lift.

Apple Market Cap Hits Record High

Posted: 20 Aug 2012 04:30 PM PDT

Apple is now the most valuable company of all time, surpassing Microsoft's previous record set in December 1999.

Under Fire, Akin Vows to Stay in Race

Posted: 20 Aug 2012 01:23 PM PDT

Missouri Rep. Akin insists he'll stay in the Senate race despite wide condemnation over his comments about rape.

Best Buy Hire Puzzles

Posted: 20 Aug 2012 05:59 PM PDT

Struggling electronics retailer Best Buy named a hospitality executive with experience stabilizing troubled companies as its chief executive, a choice that surprised retail experts and contributed to a sharp decline in its shares.

Swiss Bankers Fume Over Privacy

Posted: 20 Aug 2012 07:13 PM PDT

Swiss banks have provided U.S. officials with the names of thousands of their employees, a handover that has morphed into a controversy over their employees' personal privacy.

DreamWorks Inks Fox Deal

Posted: 20 Aug 2012 07:16 PM PDT

Twentieth Century Fox will distribute and market DreamWorks Animation's films starting next year after DreamWorks's deal with rival Paramount Pictures expires.

Aetna to Acquire Coventry Health

Posted: 20 Aug 2012 04:49 PM PDT

Aetna continued the managed-care sector's acquisition streak by announcing plans to buy Coventry Health Care in a $5.7 billion cash-and-stock deal that will boost Aetna's presence in government-financed health care.

Hedge-Fund Manager Guilty in Insider Case

Posted: 20 Aug 2012 04:54 PM PDT

Doug Whitman, a Northern California hedge-fund manager, became the latest person convicted in a broad insider-trading crackdown.

Vivendi Creates New Posts for Telecom, Media

Posted: 20 Aug 2012 11:02 AM PDT

Vivendi is splitting its strategies for media and telecommunications between newly created roles in the latest step as the company considers selling off assets or breaking itself in two.

Retail Middleman Li & Fung Faces Squeeze

Posted: 20 Aug 2012 03:10 PM PDT

After decades of expansion, Hong Kong supply-chain firm Li & Fung faces a threat of retailers like Target and Wal-Mart working directly with factories and cutting out middlemen.

Fisker Recalls Car After Fire

Posted: 20 Aug 2012 10:07 AM PDT

Fisker Automotive said it will recall its Karma luxury plug-in hybrid cars to replace cooling fans that could have a defect linked to a fire earlier this month.

Groupon Investors Give Up

Posted: 20 Aug 2012 01:34 PM PDT

Some of Groupon's early backers, including Marc Andreessen, are heading for the exits, joining investors who have lost faith in companies that had been expected to drive a new Internet boom.


Layaway Gets a Head Start

Posted: 20 Aug 2012 06:09 PM PDT

Wal-Mart extended its Christmas layaway program by a month and tripled its service fee to $15. Customers will get the full charge back in the form of a Wal-Mart gift card, after making their final payment.