"Wallstreet" Reader

"Wallstreet" Reader

Apple Shake-Up Signals Cook Era

Posted: 30 Oct 2012 09:05 PM PDT

This week's revamp at Apple demonstrates CEO Tim Cook putting his own stamp on the company's management that still bears the hallmark of its late co-founder.


EU Seeks Zinc Remedies for Glencore Deal

Posted: 30 Oct 2012 06:44 PM PDT

The European Commission is concerned that the proposed merger between Glencore International and Xstrata could reduce competition in the European market for refined zinc metal and has requested that Glencore provide remedies by 11:59 p.m. Tuesday if it wishes to keep to its timetable, people familiar with the matter said.

Asian Shares Up

Posted: 30 Oct 2012 07:52 PM PDT

Asian markets were higher with investors in Hong Kong reacting to earnings from large Chinese state-owned companies. The Hang Seng rose 0.6%.

Caesars Packs Up in Macau

Posted: 30 Oct 2012 07:32 PM PDT

Caesars is abandoning plans for a Macau casino, relying even more heavily on a sluggish U.S. market to help pay down debt.

Artio Global's Pell to Step Down as CEO

Posted: 30 Oct 2012 06:07 PM PDT

Suffering from heavy client redemptions, money manager Artio Global Investors Inc. said Tuesday that its chief executive and chairman would step down Thursday to focus solely on managing the firm's investments.

A Year Later, All Eyes on 'Edie'

Posted: 30 Oct 2012 08:18 PM PDT

The last hope for a breakthrough in the probe into the collapse of MF Global may rest with the firm's former assistant treasurer, Edith O'Brien. She thus far has refused to cooperate without a promise of immunity.

Anglo Chief Fell Victim to Cost Overruns

Posted: 30 Oct 2012 03:54 PM PDT

Anglo American CEO Cynthia Carroll's unexpected resignation last week signals that shareholders are willing to punish mining executives who can't rein in spiraling costs at the multibillion-dollar projects that have long characterized the industry.

Mickey, Darth Vader to Join Forces

Posted: 30 Oct 2012 08:48 PM PDT

Walt Disney agreed to acquire Lucasfilm in a stock and cash deal valued at $4.05 billion, a move that adds the "Star Wars" franchise to the media giant's portfolio and puts Mickey Mouse and Darth Vader under the same roof.

Dow Chemical Sees Restructuring Charge of Up to $1.1 Billion

Posted: 30 Oct 2012 12:41 PM PDT

Dow Chemical said it would take a charge of up to $1.1 billion in the fourth quarter against restructuring efforts that will lead to 3,000 job cuts.

Questions Cloud Market Reopening

Posted: 30 Oct 2012 09:28 PM PDT

U.S. stock markets were preparing to open in the wake of Sandy on Wednesday, ending a shutdown that left investors unable to trade for two days and sparked recriminations over whether Wall Street should have been better prepared to handle the impact of such a storm.


Ross Joins News Corp.'s Shine Group

Posted: 30 Oct 2012 11:20 AM PDT

News Corp.'s U.K.-based TV production unit Shine Group named former Walt Disney studio chief Rich Ross to run its Shine America operation.

UBS Moves Quickly on Job Cuts, Revamp

Posted: 30 Oct 2012 05:08 PM PDT

Scores of traders at UBS were locked out of the Swiss bank's London offices as the institution moved quickly to implement the first of thousands of job cuts in a strategic restructuring. Charges tied to the revamp helped push the bank in the red.

RBI Keeps Rates Steady, Cuts Cash Reserve Ratio

Posted: 30 Oct 2012 12:01 PM PDT

India's central bank slashed its growth forecast for the year but kept its key policy rates steady, indicating that persistently high inflation may keep it from easing monetary policy further until early next year.

Former UBS Trader: 'I Absolutely Lost Control'

Posted: 30 Oct 2012 08:44 AM PDT

Kweku Adoboli, the former UBS AG trader standing trial for fraud and false accounting, acknowledged he lost control of his trading activities in the period that led up to the multibillion-dollar loss at the Swiss bank last year.

Newspaper Circulation Slips Further

Posted: 30 Oct 2012 08:09 PM PDT

Average daily circulation at the largest newspapers in the U.S. edged down on average 0.2% during the six months ended in September from a year earlier, but Sunday circulation rose 0.6%.

Greek Leader Warns of Chaos

Posted: 30 Oct 2012 09:50 AM PDT

Greek Prime Minister Antonis Samaras sent a stark message to his government's two junior coalition partners, calling on them to back a $17.42 billion austerity and reforms package or otherwise see the country being led into "chaos."

Fiat Sees Further Weakness in Europe

Posted: 30 Oct 2012 06:16 AM PDT

Fiat said its full-year earnings will hit the low end of its forecasts given the dire conditions in Europe's car market, but it still swung to a third-quarter profit on improved sales in Brazil while its U.S. unit Chrysler enjoyed a strong recovery.

Stock Futures Close Higher

Posted: 30 Oct 2012 08:02 AM PDT

U.S. stock futures indicated a pullback from where stocks traded Friday, but they improved from Monday's levels following broad gains in European shares.

German Labor Data Disappoint

Posted: 30 Oct 2012 10:50 AM PDT

Germany's robust labor market took another hit in October as the number of jobless claims jumped by twice as much as expected.

Home Prices Climb Across Country

Posted: 30 Oct 2012 04:58 PM PDT

The U.S. housing market continued to gain steam in August, with new data showing that home-price increases accelerated over the month while also spreading to more cities across the country.