"Wallstreet" Reader

"Wallstreet" Reader

Falling Revenue Dings Stocks

Posted: 19 Oct 2012 06:40 PM PDT

America's largest companies are on track to report lower quarterly sales compared to a year earlier for the first time in nearly three years, a gloomy verdict on the health of the global economy.

Wary Swiss Banks Shun Yanks

Posted: 19 Oct 2012 06:55 PM PDT

A new U.S. law requiring foreign banks to identify American clients to the IRS is making life difficult for Americans abroad.

Google Weighs Antitrust Settlement

Posted: 19 Oct 2012 04:59 PM PDT

Google is weighing settling a potential U.S. claim that it violated antitrust law in the way it handles mobile-device patents.

Regulators Close Banks in Florida, Missouri

Posted: 19 Oct 2012 05:43 PM PDT

Regulators closed two banks in Florida and another one in Missouri, bringing the nationwide tally of bank failures to 46 for the year.

Valero to Sell Oil Refineries

Posted: 19 Oct 2012 03:34 PM PDT

Valero Energy is putting its two California oil refineries on the

Zynga Struggles to Recapture Buzz

Posted: 19 Oct 2012 06:45 PM PDT

Zynga's experience with "FarmVille 2," which debuted early last month, underlines how the easy stuff is over for the San Francisco company in a social-games industry that it helped pioneer.

AT&T to Place $9.5 Billion in Equity in Pension Plan

Posted: 19 Oct 2012 06:04 PM PDT

AT&T plans to contribute $9.5 billion in preferred equity to its underfunded pension plan, making it the latest company forced to address massive obligations accentuated by low interest rates.

Prudential Heads Toward 'Systemically Important' Tag

Posted: 19 Oct 2012 01:16 PM PDT

Prudential Financial became the latest nonbank firm to learn that federal regulators have moved a step closer toward deeming the company big enough to pose risks to the financial system.

Federal-Mogul Swings to Loss

Posted: 19 Oct 2012 04:18 PM PDT

Auto-parts maker Federal-Mogul posted a quarterly loss and unveiled plans to trim back staff and production in response to weak demand in Europe.

Honeywell Profit Rises 10%

Posted: 19 Oct 2012 12:51 PM PDT

Honeywell reported a 10% rise in third-quarter earnings as stronger aerospace sales helped offset a drop in transportation-systems sales.

Savile Probe Now Criminal Inquiry

Posted: 19 Oct 2012 01:08 PM PDT

British police officers probing allegations of sexual abuse against a deceased British Broadcasting Corp. host officially opened a criminal investigation related to the matter.

Apache Gas Export Project Stalls

Posted: 19 Oct 2012 11:27 AM PDT

Two years ago Apache became the first major energy to push a plan to export North America's abundant natural gas to Asia, but its effort has stalled as rivals jumped in with lower-prices and assured buyers.

Roger Ailes Renews Fox Contract

Posted: 19 Oct 2012 12:30 PM PDT

Roger Ailes signed a four-year contract to stay on as chairman and chief executive of News Corp.'s Fox News.

Starbucks Opens Cafe in India

Posted: 19 Oct 2012 06:34 PM PDT

Starbucks, in a joint venture with a Tata Group unit, has opened its first café in India--one of its last untapped markets.

Schlumberger's Profit Rises 9.5%

Posted: 19 Oct 2012 11:44 AM PDT

Oilfield-services provider Schlumberger reported a 9.5% rise in quarterly earnings on continued strength in drilling activity overseas, offsetting weakness in North America.

Suit Maker HMX Group Files for Chapter 11 Again

Posted: 19 Oct 2012 12:10 PM PDT

Tailored-suit company HMX Group, which owns brands like Hart Shaffner Marx, filed for Chapter 11 bankruptcy, its second filing since 2009.

Nintendo to Investigate Hon Hai Labor

Posted: 19 Oct 2012 11:52 AM PDT

Nintendo plans to investigate a statement by Hon Hai Precision Industry that the parts supplier used underage workers at one of its Chinese plants.

U.K. Public Borrowing Falls

Posted: 19 Oct 2012 07:03 AM PDT

The U.K. government borrowed less in September than it has done for any September since 2008, but still looks on course to miss its borrowing targets for the year.

First Horizon Flags Possible Mortgage Buybacks

Posted: 19 Oct 2012 11:48 AM PDT

First Horizon's third-quarter earnings slid 29% and the Tennessee bank advised investors that it might have to buy back mortgages it previously sold to private investors.

Thiel in Talks to Invest in Airbnb at $2.5B Valuation

Posted: 19 Oct 2012 05:59 PM PDT

Online room rental service Airbnb is in discussions with venture capitalist Peter Thiel about a roughly $150 million investment that would value the company at around $2.5 billion.