"Wallstreet" Reader

"Wallstreet" Reader

Pension Uproar Sours Portugal's Recovery Plan

Posted: 21 Sep 2012 07:32 PM PDT

An austerity program that made Portugal a European model for how to weather a debt crisis has met its first serious resistance from wage earners, threatening to undermine the country's governing coalition.


BofA Unit Said to Lose Millions on Options Error

Posted: 21 Sep 2012 06:59 PM PDT

Bank of America Merrill Lynch on Friday sustained a loss approaching $10 million because of an error handling a controversial type of stock-option trading, according to people with knowledge of the issue.

After Controversial Ruling, Wal-Mart Eyes India Stores

Posted: 21 Sep 2012 06:51 PM PDT

Wal-Mart expects to open its first retail stores in India in the next two years after a contentious government decision this month allowing foreign retailers to expand their footprint in the world's second-most-populated country.

Federal Jobs Program Fails to Catch On

Posted: 21 Sep 2012 07:53 PM PDT

A new federal program that lets states give companies financial incentives for hiring jobless people hasn't gained traction, illustrating the complications of government attempts to tackle unemployment.


Power Plants Aim to Curb Their Thirst

Posted: 21 Sep 2012 06:28 PM PDT

The drought that parched more than 30 states this summer is forcing the power industry to rethink its heavy use of water and adopt technology to use less of it.

Boeing Gets $1.9 Billion Order for Navy Jets

Posted: 21 Sep 2012 03:36 PM PDT

The Pentagon said it placed a $1.9 billion order for Boeing jets as the U.S. Navy moves to expand its fleet of submarine-hunting aircraft

Ellison's Compensation Jumps

Posted: 21 Sep 2012 03:41 PM PDT

Larry Ellison, Oracle's CEO, saw the value of his compensation take a sizable jump in its last fiscal year. He received stock options valued at $96 million during fiscal 2012, which ended in May. That's up from $78 million the year before. Oracle's board didn't change the number of options, however.

ConocoPhillips Awarded $66.8 Million in Venezuela Case

Posted: 21 Sep 2012 03:51 PM PDT

An international panel has awarded ConocoPhillips $66.8 million in a dispute with Venezuela's state-controlled oil company over production at its former facilities in the country.

Chesapeake Replaces Top Lawyer

Posted: 21 Sep 2012 06:49 PM PDT

Chesapeake Energy named a new top lawyer as the natural-gas giant defends itself against a raft of lawsuits and governmental probes related to its business tactics and its CEO's financial dealings.

StanChart Formalizes Settlement in Iran Case

Posted: 21 Sep 2012 06:17 PM PDT

Standard Chartered completed its $340 million settlement with New York state over allegations the bank violated U.S. trade sanctions by handling transactions for Iranian customers.

Harley Goes Lean to Build Hogs

Posted: 21 Sep 2012 05:45 PM PDT

American manufacturers including Harley-Davidson have embraced flexible production and hiring that have lessened their risks of a sudden drop even if the economy slips into a deep slump.

Sotheby's to Sell Art in China, Beating Christie's

Posted: 21 Sep 2012 06:54 PM PDT

Auction house Sotheby's notched a gain against rival Christie's in the world's largest art market, becoming the first foreign company allowed to sell art and other collectibles in China.

Xstrata Delays Glencore Decision

Posted: 21 Sep 2012 12:11 PM PDT

The mining giant has received approval to wait an extra week before deciding its reaction to Glencore's raised offer.

U.S., China Agree on Audit Inspections

Posted: 21 Sep 2012 06:54 PM PDT

U.S. and Chinese authorities have reached a tentative agreement to begin sending American audit-firm inspectors to China as observers.

Pair of IPO Deals Pulled

Posted: 21 Sep 2012 09:51 AM PDT

Two stock offers slated to list Friday hit snags after a burst of activity in the IPO market on Thursday.

Reebok Letting Adidas Down

Posted: 21 Sep 2012 09:00 AM PDT

German sportswear and equipment maker Adidas cut its midterm sales outlook for its Reebok brand after a license cancellation in the U.S. but said it expects its Adidas brand to compensate for the shortfall.

RIM Restores Service in Europe

Posted: 21 Sep 2012 06:20 PM PDT

BlackBerry service was restored after an hourslong outage across Europe, but Research In Motion left unanswered how its network went down again, less than a year after a three-day global outage.

UPS Faces Struggle in TNT Deal

Posted: 21 Sep 2012 04:13 PM PDT

United Parcel Services faces an uphill struggle to convince EU regulators that its $6.77 billion acquisition of Dutch peer TNT Express doesn't breach antitrust rules.

U.K. Banks Spend Cash on Bonds

Posted: 21 Sep 2012 07:31 PM PDT

Flush with cash but wary of making any more bad loans, U.K. banks are buying back their own bonds, potentially reinforcing criticism that they aren't doing enough to help the economy out of recession.


Dow Ends Lower in Late Selloff

Posted: 21 Sep 2012 06:34 PM PDT

The Dow industrials had their first weekly loss in three weeks as stocks swooned late in the session.