"Wallstreet" Reader

"Wallstreet" Reader

Berkshire Trims Municipal-Debt Bet

Posted: 03 Aug 2012 05:57 PM PDT

Warren Buffett's Berkshire Hathaway recently terminated about half of a big wager on the health of municipal debt, amid a worsening outlook for states, cities and municipalities across the country.

AT&T Ending 2G Network by 2017

Posted: 03 Aug 2012 01:48 PM PDT

AT&T is shutting down its second-generation, or 2G, wireless networks by 2017 as it continues to upgrade its systems to faster technology and better use its limited airwaves.

Son of Peregrine CEO Had Planned to Leave Firm

Posted: 03 Aug 2012 12:51 PM PDT

A lawyer for Russell Wasendorf Jr., president of Peregrine Financial and son of its CEO and founder, said he had planned to leave the now-collapsed brokerage firm over differences with his father.

Reuters News Site Hacked

Posted: 03 Aug 2012 06:01 PM PDT

Thomson Reuters said its blogging platform for Reuters News was hacked, resulting in multiple false posts to its website, including a fake interview with a Syrian rebel army leader.

Treasury to Sell $4.5 Billion in AIG Stock

Posted: 03 Aug 2012 04:44 PM PDT

The U.S. Treasury Department launched its fourth sale of shares in American International Group, with the insurer committing to repurchase two-thirds of the $4.5 billion in shares being offered to the public.

EA Sues Zynga Over 'The Ville'

Posted: 03 Aug 2012 11:41 AM PDT

Electronic Arts said it sued Zynga for allegedly infringing its copyright-protected Facebook game "The Sims Social" with Zynga's new game "The Ville."

Wasendorf Estate Receiver Seeks Payments

Posted: 03 Aug 2012 11:16 AM PDT

A court-appointed receiver for the estate of Russell Wasendorf Sr. asked an Illinois judge to approve payments totaling almost $9,000 to eight former employees who assisted with cataloging assets of several of the Peregrine Financial CEO's other companies.

Knight Capital Gets a Lifeline

Posted: 03 Aug 2012 07:07 PM PDT

Knight Capital told brokers that it obtained a credit line but some firms were still withholding business. SEC Chairman Mary Schapiro called the trading glitch "unacceptable."

Europe's Big Insurers Post Solid Results

Posted: 03 Aug 2012 09:43 AM PDT

Allianz and AXA, two of Europe's largest insurers, posted solid overall results, but costs for disaster-related claims ate into some of their profits.

China, India Service Sectors Lose Momentum

Posted: 03 Aug 2012 08:53 AM PDT

Service sectors in China and India lost some momentum and Australian service industries contracted further in July, the latest signal of stress in Asia-Pacific economies.

Washington Post's Revenue Falls 5%

Posted: 03 Aug 2012 12:34 PM PDT

Washington Post reported a 14% rise in second-quarter profit aided by the sale of a business unit, but revenue from its publishing and education divisions continued to decline.

Madrid Hints at a Possible Bailout

Posted: 03 Aug 2012 03:36 PM PDT

Spanish Prime Minister Rajoy suggested for the first time he could consider requesting support from the euro zone's bailout fund to help ease Spain's deepening financial crisis.

Heineken-APB Deal Advances

Posted: 03 Aug 2012 10:31 AM PDT

Heineken said it has reached an agreement with the board of its joint-venture partner Fraser & Neave to buy F&N's shares in Asia Pacific Breweries for $4.1 billion.

Ex-CEO Says Cancer Led to Her Ouster

Posted: 03 Aug 2012 05:53 PM PDT

Tuesday Morning's ousted chief executive filed discrimination charges against the home furnishing retailers, alleging she was removed after disclosing to the board that she was battling breast cancer.

NYSE Euronext's Profit Slides

Posted: 03 Aug 2012 03:11 PM PDT

Exchange operator NYSE Euronext posted a drop in second-quarter net income due to lower trading volumes, mainly in derivatives.

Viacom Earnings Drop 7%

Posted: 03 Aug 2012 12:37 PM PDT

Viacom's earnings fell 7% as revenue from the company's media-networks and filmed-entertainment segments slumped.

P&G Gets a Lift From Price Cuts

Posted: 03 Aug 2012 06:32 PM PDT

Procter & Gamble's fiscal-fourth-quarter earnings rose 45%, helped by gains from the sale of its snacks unit, though sales declined and margins slipped.

UAL Nears Agreement With Pilots

Posted: 03 Aug 2012 06:35 PM PDT

United Continental and its two pilot groups agreed to the outlines of a single labor contract, edging toward achieving some of the cost savings and revenue benefits expected from the 2010 merger.

Dow Rises to Three-Month High

Posted: 03 Aug 2012 07:57 PM PDT

Stocks surged, with the Dow industrials jumping to a three-month high, after the U.S. payrolls data rose more than expected in July.


J.P. Morgan 'London Whale' Was Prodded

Posted: 03 Aug 2012 02:24 AM PDT

A J.P. Morgan executive encouraged the trader known as the "London whale" to boost valuations on some bets that were losing money, the bank concluded after an internal probe of recent trading losses.