"Wallstreet" Reader

"Wallstreet" Reader

Asian Shares Gain

Posted: 16 Oct 2012 07:39 PM PDT

Asian shares were higher after Moody's reaffirmed its rating on Spanish debt, helping Australian stocks reach a fifteen-month high. The S&P/ASX 200 added 0.8%.


Google CEO Speaking Publicly Again

Posted: 16 Oct 2012 06:38 PM PDT

GoogleInc. CEO Larry Page, making his first public comments in several months, said he's "hopeful" the Internet company can work with antitrust regulators and resolve probes of its business.

Visa Set to Name Its Next CEO

Posted: 16 Oct 2012 06:09 PM PDT

The credit-card giant is preparing to name a successor to Joseph Saunders, who is expected to retire when his contract expires in March. The selection could come as soon as this month.

InterOil Offer May Unlock PNG Gas Project

Posted: 16 Oct 2012 05:05 PM PDT

A joint venture headed by InterOil Corp. has offered to sell half of two gas fields it owns in Papua New Guinea to the government and local landowners,

Spain Aid Faces Diplomatic Tangle

Posted: 16 Oct 2012 06:30 PM PDT

A potential Spanish request for financial aid is becoming caught up in tangled diplomacy between euro-zone capitals, despite Madrid's new willingness to push ahead.

Pandit Is Forced Out at Citi

Posted: 16 Oct 2012 07:40 PM PDT

Citigroup CEO Vikram Pandit abruptly resigned following a clash with the board over strategy and performance. The bank named Michael Corbat to succeed him.


Intel's Profit Drops as PC Demand Falls

Posted: 16 Oct 2012 07:28 PM PDT

Intel's third-quarter profit fell 14% as the chip maker suffered from declining sales of personal computers while costs climbed.


High-Frequency Trading Firm Eladian Pulls Plug

Posted: 16 Oct 2012 05:41 PM PDT

A high-frequency trading firm started by former Citigroup executives closed its doors on Tuesday, reflecting the challenges traders have faced in navigating markets where lower volumes have led to smaller profits.

Big Investors Spar Over General Growth

Posted: 16 Oct 2012 03:48 PM PDT

William Ackman and Brookfield Asset Management have made big profits since teaming to pull General Growth Properties out of bankruptcy. But now the two owners are squabbling over whether now is the time to sell the mall giant.


IBM Revenue Drop May Signal Cuts by Firms

Posted: 16 Oct 2012 05:09 PM PDT

IBM reported declining third-quarter revenue, including a sharp drop in hardware sales, the latest signal businesses could be cutting back on tech spending. Profit edged down to $3.82 billion from $3.84 billion.I

EU Official Resigns After Tobacco Probe

Posted: 16 Oct 2012 02:22 PM PDT

The European Union's commissioner for health and consumer policy, John Dalli, resigned following an investigation by the EU's antifraud office into a complaint made by tobacco producer Swedish Match.

Changes Pushed On Capital Rules

Posted: 16 Oct 2012 04:31 PM PDT

The senior Republican on the Senate Banking Committee is challenging U.S. banking regulators on their implementation of a new international system of capital standards.

Target to Price Rivals' Online Prices

Posted: 16 Oct 2012 03:11 PM PDT

Target Corp., following on the heels of Best Buy, said it will offer to match the online prices of some rival retailers in the coming holiday shopping season.

UPS Deal Faces EU Complaint

Posted: 16 Oct 2012 06:34 PM PDT

UPS faces an imminent formal complaint by European Union competition regulators over the company's bid to acquire Dutch rival TNT Express.

Postal Service Hits Borrowing Limit

Posted: 16 Oct 2012 05:25 PM PDT

The U.S. Postal Service hit its $15 billion borrowing limit for the first time in its history, leaving the agency with only the revenue it takes in from selling stamps, shipping and other services to cover its enormous operating costs.

European Car Sales Slump Continues

Posted: 16 Oct 2012 01:03 PM PDT

European car sales declined for the 12th consecutive month in September, piling pressure on some of the region's mass-market auto makers to more radically restructure their operations as slumping sales further expose the industry's problem of chronic overcapacity.

Southwest Air Hires Former FAA Chief

Posted: 16 Oct 2012 12:18 PM PDT

Southwest Airlines hired Randy Babbitt, a former FAA head and pilot-union chief, as senior vice president of labor relations.

Coca-Cola, Sanofi in Beauty Venture

Posted: 16 Oct 2012 11:48 AM PDT

Coca-Cola and French drugs maker Sanofi have set up a 50-50 partnership to launch a range of drinks carrying various well-being and beauty claims as part of parallel diversification efforts.

Murphy Oil to Spin Off U.S. Downstream Unit

Posted: 16 Oct 2012 09:26 AM PDT

Murphy Oil's board approved the spinoff of its U.S. fuel-making and distribution business into a new company, as the company intends to focus on oil and gas extraction in the U.S., Canada and Malaysia.

PNC Financial's Profit Climbs 13%

Posted: 16 Oct 2012 03:52 PM PDT

PNC Financial Services Group posted a larger profit in the third quarter as the regional lender's credit quality continued to improve, though its profit margin shrank more than expected and loan growth slowed.