"Wallstreet" Reader

"Wallstreet" Reader

Private Equity Tests Pension Funds' Patience

Posted: 06 Sep 2012 06:59 PM PDT

A new report by a consultant to the California Teachers' Retirement System, or Calstrs, shows that returns from large U.S. buyout funds are lagging many of the pension's internal benchmarks.

Stocks Cheer Stimulus---For Now

Posted: 06 Sep 2012 05:56 PM PDT

A fresh jolt of aid from the European Central Bank eased investor fears about European solvency and propelled stock markets globally. But the advances underscored how much investors and markets rely these days on action by the world's central banks, which have been the main source of stimulus for economies and markets.


Stocks Surge on Plan for Europe

Posted: 06 Sep 2012 07:40 PM PDT

The European Central Bank, acknowledging that Europe's debt crisis has reached a critical stage, said it was prepared to use its most powerful tool—its printing press—to save the euro.

Wall Street Puts Bondholders on Speed-Dial

Posted: 06 Sep 2012 06:34 PM PDT

Morgan Stanley and Goldman Sachs for the first time held conference calls targeting fixed-income investors. The firms are seeking out new buyers for their debt in an effort to lower interest rates.

In China, Bond Rally Builds

Posted: 06 Sep 2012 06:47 PM PDT

Signs of a turnaround in China's property market have sparked a rally in bonds of the nation's developers, making them among Asia's best performers this year.

Accord Is Reached at South Africa Mine

Posted: 06 Sep 2012 04:48 PM PDT

Lonmin signed an agreement aimed at ending a near four-week platinum-mine strike, but key parties didn't participate, undermining an attempt to end a dispute that has left 44 people dead.

Qantas, Emirates Propose Alliance

Posted: 06 Sep 2012 03:43 PM PDT

Qantas Airways and Dubai-based Emirates Airline said they plan to align ticket prices and flight schedules, in a deal that could intensify pressure on international airlines to deepen commercial alliances.

Retailers Misfire in China Price War

Posted: 06 Sep 2012 02:58 PM PDT

Chinese retailers Suning, Gome and 360buy.com said they failed to give consumers promised discounts in a widely touted price war, after authorities said they would investigate potential unfair sales practices.

Russia Wants to Avoid 'Gas War'

Posted: 06 Sep 2012 03:54 PM PDT

Russia wants to avoid a "gas war" with the EU over its probe of Gazprom and would welcome a negotiated settlement between the energy giant and European authorities, its ambassador to Brussels said.

Peregrine Debacle Takes Toll

Posted: 06 Sep 2012 06:40 PM PDT

Plans to return some funds held by collapsed brokerage Peregrine Financial Group, nearly two months after the firm's bankruptcy filing, come too late to repair some of the reputational damage to the futures industry.

Chesapeake Says Sale of West Texas Assets on Track

Posted: 06 Sep 2012 11:21 AM PDT

Chesapeake Energy still expects to sell its assets in west Texas and announce a joint venture in its Mississippi Lime operations in the next few months.

Glencore-Xstrata Deal Heads to Crucial Vote

Posted: 06 Sep 2012 06:01 PM PDT

The investor standoff that is threatening the proposed merger of Glencore International and Anglo-Swiss mining giant Xstrata showed no signs of being broken ahead of a crucial vote on the $34 billion deal Friday.

Maverick Capital Partner to Leave

Posted: 06 Sep 2012 12:45 PM PDT

Maverick Capital's Steve Galbraith, who left a top investment-strategist post at Morgan Stanley for the hedge fund eight years ago, plans to exit the firm as soon as the end of this month.

Peugeot to Exit CAC-40

Posted: 06 Sep 2012 12:46 PM PDT

PSA Peugeot-Citroën will lose its slot on France's CAC-40 stock index later this month and be replaced by Belgian chemical maker Solvay.

Navistar's Profit Tops Forecasts

Posted: 06 Sep 2012 08:38 AM PDT

Navistar's quarterly profit fell, but results were better than expected, as the truck maker attempts to rebound from an unsuccessful engine emissions strategy that ushered in new management last month.

Microsoft to Bolster Efforts in China

Posted: 06 Sep 2012 10:15 AM PDT

Microsoft Corp. plans to hire 1,000 additional staffers in China and increase its pace of investment in the fast-growing market.

Walgreen Reports Weak August Sales

Posted: 06 Sep 2012 11:59 AM PDT

Walgreen said the company's same-store sales fell a bigger-than-expected 8.2% during August, as the pharmacy chain suffered from generic-drug introductions and its dispute with Express Scripts.

Reinsurers Gird for Rates Showdown

Posted: 06 Sep 2012 02:16 PM PDT

Reinsurers such as Munich Re and Swiss Re will have some tough talking to do when they hammer out rates with primary insurers at the industry's annual gathering that starts Sunday in Monaco.

J.P. Morgan Taps 'Whale' Unit Head

Posted: 06 Sep 2012 06:36 PM PDT

J.P. Morgan Chase appointed Craig Delany to lead the unit that suffered at least $5.8 billion in trading losses tied to credit derivatives earlier this year, as it refocuses the division on "its core mandate of conservative investing."

Judge Approves Settlement In E-Book Pricing Case

Posted: 06 Sep 2012 12:26 PM PDT

In a move that could reshape the publishing industry, a federal judge approved a settlement with three book publishers over alleged collusion in e-book pricing. Apple and two other publishers plan to defend themselves against the allegations.