"Wallstreet" Reader

"Wallstreet" Reader

Rapid-Fire Traders' Big Fear: Themselves

Posted: 01 Oct 2012 06:04 PM PDT

High-frequency trading firms, long resistant to tighter oversight of their businesses, are beginning to change their tune amid a spate of high-profile technology failures that have roiled financial markets.


Asian Shares Higher

Posted: 01 Oct 2012 07:51 PM PDT

Asian shares rose Tuesday on the back of Monday's above-view U.S. manufacturing data with the RBA's rate decision later in focus. The Nikkei rose 0.1%.


Merrill Plots Raid on a Vulnerable Rival

Posted: 01 Oct 2012 05:34 PM PDT

In a raid that stands out even in Wall Street's aggressive recruiting culture, Merrill Lynch is offering some top Morgan Stanley Wealth Management brokers $1.5 million bonuses to defect.

IndyMac Ex-CEO Settles SEC Case

Posted: 01 Oct 2012 05:37 PM PDT

The former head of failed lender IndyMac Bancorp Inc. will pay $80,000 to settle a charge he misrepresented the company's financial condition, after a judge dismissed other civil allegations against him.

America's $5 Billion Steel Mill for Sale

Posted: 01 Oct 2012 05:35 PM PDT

ThyssenKrupp is trying to sell the most technologically advanced steel plant in the U.S., likely ending the German company's effort to establish itself in the Americas.

Lenovo Plans U.S. Computer Plant

Posted: 01 Oct 2012 05:04 PM PDT

Lenovo Group Ltd. of China said it will start manufacturing personal computers in North Carolina next year.


Ex-Employees at Madoff Firm Hit With Additional Charges

Posted: 01 Oct 2012 04:52 PM PDT

A federal grand jury returned additional criminal charges Monday against a group of former employees of convicted Ponzi scheme operator Bernard Madoff nearly four years after the massive fraud came to light.

FAA Probes Seats on Two American Flights

Posted: 01 Oct 2012 04:30 PM PDT

Federal regulators are investigating maintenance lapses that caused rows of passenger seats to come loose during a pair of flights on American Airlines jets over the past three days.

Europe Crisis Effects Could Linger

Posted: 01 Oct 2012 05:46 PM PDT

European debt crisis could weigh on the world economy for years, Kaushik Basu, who was on Monday named the World Bank's new chief economist, said in an interview.

Talanx IPO Raises $601.9 Million

Posted: 01 Oct 2012 03:34 PM PDT

German insurer Talanx, which pulled its IPO last month only to restart it eight days later, sold shares in the bottom half of its proposed price range.

Jana Partners Takes Aim at Agrium

Posted: 01 Oct 2012 01:24 PM PDT

Activist investor Barry Rosenstein of Jana Partners sought to ratchet up the pressure on Agrium, taking the stage at an investor conference to urge executives at the Canadian fertilizer company to spin off its retail-distribution business and cut costs.

Greece's Creditors Challenge Cutbacks

Posted: 01 Oct 2012 01:03 PM PDT

Greece's international lenders cast doubt on parts of Athens' plans to save billions of euros through new cutbacks and tax measures, throwing a potential wrench in the government's efforts to reach a quick deal to unlock new aid for the country.

Iran Currency Falls to New Lows

Posted: 01 Oct 2012 05:54 PM PDT

The Iranian currency, battered by international sanctions and turmoil in the domestic economy, fell to new lows.

Fisker in Cash Hunt to Fund Second Car

Posted: 01 Oct 2012 01:47 PM PDT

Electric-car startup Fisker Automotive has had talks with potential partners as it searches for more money to fund engineering and production of its second car line.

SAC Portfolio Manager Placed On Leave

Posted: 01 Oct 2012 12:05 PM PDT

Michael Steinberg, a portfolio manager at a division of hedge fund SAC Capital Advisors, was put on paid leave after his name surfaced in the government's broad investigation into insider trading in corporate America.

BMC Explores Potential Sale

Posted: 01 Oct 2012 01:42 PM PDT

BMC Software hired bankers to assist it with a strategic review, including seeking a buyer.

Hospital Operator Tenet Plans Buybacks

Posted: 01 Oct 2012 09:45 AM PDT

Hospital operator Tenet Healthcare announced several plans aimed at speeding up growth and improving shareholder value, including acquisitions, share buybacks and a reverse-stock split.

Another Executive Departs J.P. Morgan's Chief Investment Office

Posted: 01 Oct 2012 09:54 AM PDT

Irene Tse, an executive in the J.P. Morgan Chase division that suffered $5.8 billion in trading losses earlier this year, is leaving the bank, according to an internal memo.

Fed Chief Takes On Critics

Posted: 01 Oct 2012 06:47 PM PDT

Bernanke pushed back against criticism that the central bank enables bad fiscal policy or is "monetizing the debt" and sowing the seeds for inflation.

Xstrata Board Recommends Glencore Deal

Posted: 01 Oct 2012 07:48 PM PDT

Xstrata unveiled a new structure for the company's proposed $70 billion merger with Glencore that the natural-resources giants hope will keep the deal from foundering on differences over executive pay.