"Wallstreet" Reader

"Wallstreet" Reader

New Turn in Brokerage Fight

Posted: 05 Sep 2012 04:56 PM PDT

Morgan Stanley and Citigroup are battling over how much capital their Morgan Stanley Smith Barney brokerage should hold.

Egyptian Bets on Natural Gas in Iowa

Posted: 05 Sep 2012 05:16 PM PDT

Egypt's largest company announced plans to spend $1.4 billion building a fertilizer plant in Iowa, tapping into cheap U.S. natural-gas supplies and the nation's role as the world's most important food exporter.


MF Global Claims Can Be Combined

Posted: 05 Sep 2012 07:21 PM PDT

A bankruptcy judge allowed the trustee unwinding MF Global's brokerage to combine his claims with those of individuals suing Jon S. Corzine and other former executives in U.S. district court.

Volvo Sticks With Investment

Posted: 05 Sep 2012 04:16 PM PDT

Swedish auto maker Volvo is pushing forward with an aggressive $11-billion four-year investment plan despite a first half loss on falling sales in China, the U.S. and Europe.

Summer Rally Puts the Hurt on Fund Managers

Posted: 05 Sep 2012 04:25 PM PDT

Some fund managers who lost out on the summer rally may have to buy shares to avoid being left in the dust, potentially giving the stock market another leg up.

IMF Approves Loan Tranche for Ireland

Posted: 05 Sep 2012 03:28 PM PDT

The IMF approved a €920 million loan tranche for Ireland, lauding the country's ability to meet bailout program targets despite a slowdown.

Encana's Board Finds No Collusion

Posted: 05 Sep 2012 02:30 PM PDT

Encana's board concluded that the natural-gas producer didn't collude with competitors on land leases in Michigan in 2010, after completing an investigation into the allegations.

Warhol Art Trove Pops Up for Sale

Posted: 05 Sep 2012 07:12 PM PDT

A quarter-century after Andy Warhol's death, his art foundation is about to upend the Warhol market by auctioning off the rest of his estate—including more than 20,000 works for a total of more than $100 million.

Nokia, Motorola Race to Beat Apple

Posted: 05 Sep 2012 04:46 PM PDT

Apple's competitors are racing to promote their newest smartphones ahead of next week's expected unveiling of the iPhone 5, but in their haste they are leaving out some key details.


Supervalu to Close 60 Stores

Posted: 05 Sep 2012 01:51 PM PDT

Struggling supermarket operator Supervalu said it will close about 60 underperforming or nonstrategic stores in its "urgency" to cut costs.

UPS Deal Faces Further Delay

Posted: 05 Sep 2012 02:18 PM PDT

United Parcel Service said its planned acquisition of Dutch package shipper TNT Express likely won't close until early next year, after EU regulators sought more time to complete a review the $6.48 billion deal.

MTV's Ads Go After Multitaskers

Posted: 05 Sep 2012 12:45 PM PDT

Pepsi, Verizon Wireless and Kraft all plan to try a new ad service that allows commercials to run simultaneously on MTV's network, website and mobile app, in an effort to reach multitasking media consumers.


Apple Says It Didn't Give ID Data to FBI

Posted: 05 Sep 2012 06:02 PM PDT

Apple said it didn't provide a set of IDs tied to its devices to the FBI, days after a hacking group claimed to have obtained the data from the computer of an agent.

Glencore Bid Faces Moment of Truth

Posted: 05 Sep 2012 05:51 PM PDT

The Glencore-Xstrata tie-up could still be salvaged before Friday's shareholder vote, though an impasse over price persists.

Controlling Shareholder to Sell a Stake in Luxottica

Posted: 05 Sep 2012 07:01 PM PDT

The controlling shareholder of Luxottica Group said Wednesday that he aims to sell a 7% stake in the Italian luxury eyewear maker.

3M Deal for Avery Dennison Business Isn't Dead, Firms Say

Posted: 05 Sep 2012 05:57 PM PDT

3M's proposed acquisition of Avery Dennison's office- and consumer-products business remains on the table, the companies said, although the Justice Department said Tuesday the companies were abandoning the deal after it raised antitrust objections.

JAL Stock Demand Takes Off

Posted: 05 Sep 2012 07:25 PM PDT

Japan Airlines' initial public offering of up to $8.4 billion is fully covered, just days after the carrier started taking orders for its shares, boding well for what is set to be the world's second-largest IPO this year after Facebook's.

Journal Register Back in Chapter 11

Posted: 05 Sep 2012 05:56 PM PDT

Journal Register Co., the publisher of the New Haven Register and more than a dozen other papers, is back in bankruptcy protection, this time intent on swiftly selling its business.

Chinese Ad Firm Defies Short Seller

Posted: 05 Sep 2012 07:00 PM PDT

Less than a year after China's Focus Media landed in the cross hairs of short seller Muddy Waters, the ad company's shares are higher and it is the subject of what would be China's biggest leveraged-buyout offer ever.

Judge Approves Pay Increase for Peregrine Lawyer

Posted: 05 Sep 2012 10:35 AM PDT

A bankruptcy court judge granted a proposed bump in pay for the general counsel of Peregrine despite objections from former customers of the futures and currency brokerage.