"Wallstreet" Reader

"Wallstreet" Reader

Global Growth Woes Weigh Asian Shares

Posted: 09 Oct 2012 07:44 PM PDT

Asian shares fell Wednesday amid concerns over global growth, while car makers dragged on the Japanese market. The Nikkei fell 1.7%.


U.S. Sues Wells Fargo for Faulty Mortgages

Posted: 09 Oct 2012 06:00 PM PDT

The government filed a civil lawsuit against Wells Fargo, accusing the biggest U.S. mortgage lender of behaving recklessly in issuing federally backed home loans.

Wall Street Employment May Shrink Further

Posted: 09 Oct 2012 05:06 PM PDT

Wall Street has cut 1,200 jobs since the beginning of 2012 and could contract further over the remainder of the year, while the securities industry's cash-bonus pool is expected to decline for the second consecutive year, according to a report released by the New York state Comptroller.

Huawei's Business Grows in Canada

Posted: 09 Oct 2012 07:49 PM PDT

A scathing U.S. congressional report may make it tough for Huawei to win new American business, but it's enjoying a warmer reception in Canada.


IMF Weighing New Loans for Europe

Posted: 09 Oct 2012 07:18 PM PDT

The International Monetary Fund is weighing a number of potential roles to support European nations seeking aid.

Microsoft Trims Bonus for Ballmer

Posted: 09 Oct 2012 06:57 PM PDT

Microsoft's board reduced the bonus awarded to Chief Executive Steve Ballmer, citing factors that include the company's unprofitable online division and its failure to hew to an agreement with European regulators.

IMF Warns U.S., Japan on Risks of Safe-Haven Status

Posted: 09 Oct 2012 06:47 PM PDT

The world's two largest advanced economies, the U.S. and Japan, face growing long-term risks from investors fleeing trouble spots around the world, the International Monetary Fund warned.

Goldman Pushes On Limits in Volcker Rule

Posted: 09 Oct 2012 05:01 PM PDT

The firm wants to exempt so-called credit funds from the rule that targets risk-taking among banks. It is merely the latest skirmish in a fierce lobbying battle among big banks and regulators.

Judge Approves Settlement With Ex-Partners of Dewey

Posted: 09 Oct 2012 07:32 PM PDT

A judge approved a $71.5 million settlement Tuesday with former partners of defunct law firm Dewey & LeBoeuf, giving the green light to a plan that could set a new benchmark for unwinding failed partnerships.

In Gupta Sentencing, a Judgment Call

Posted: 09 Oct 2012 04:52 PM PDT

Former Goldman Sachs Group director Rajat Gupta could be in line to get a more lenient sentence than other insider-trading defendants when he is sentenced later this month.


'Peanuts' Head to Big Screen

Posted: 09 Oct 2012 12:03 PM PDT

Twentieth Century Fox Film's animation units acquired feature film rights for the "Peanuts" franchise, after more than two years of negotiations with the family of the late Charles Schulz, creator of the franchise.

Yum Brands Profits Jumps

Posted: 09 Oct 2012 03:10 PM PDT

Yum Brands said its profit rose 23% on improved U.S. business, though same-store growth in its China operations kept slowing.

Best Buy CFO to Step Down

Posted: 09 Oct 2012 02:53 PM PDT

Best Buy said Chief Financial Officer Jim Muehlbauer is leaving the company in the latest executive change at the consumer-electronics chain.

High Court Rejects Chevron Challenge

Posted: 09 Oct 2012 04:47 PM PDT

The Supreme Court refused to consider Chevron's bid to block plaintiffs from trying to collect a $19 billion Ecuadorean environmental judgment against the company.

P&G Shareholders Vote to Change Rule on Directors

Posted: 09 Oct 2012 04:23 PM PDT

P&G shareholders voted to lower the bar for replacing or adding board members, at a time when an activist investor known for mounting proxy fights is agitating for change at the company.

China Calls Huawei Report 'Groundless'

Posted: 09 Oct 2012 07:11 PM PDT

Beijing said a U.S. congressional report urging U.S. business to spurn Chinese telecoms Huawei Technologies and ZTE could hurt relations between the countries.

Wal-Mart Delivery Service Says to Amazon: Bring It

Posted: 09 Oct 2012 04:20 PM PDT

Wal-Mart is testing a same-day delivery service in some markets, in its latest bid to take on Amazon.com.


Cash Tap Stays Dry for EU Banks

Posted: 09 Oct 2012 03:44 PM PDT

Banco Popolare and UniCredit Bank Austria both had to cancel bond sales due to poor demand this week, a reminder of the challenges facing many of the continent's midsize lenders, which remain locked out of normal funding markets.

Merkel Sees Hope Amid Greek Protest

Posted: 09 Oct 2012 06:48 PM PDT

Germany's Angela Merkel said she saw "light at the end of the tunnel" for Greece as the country struggles through a painful austerity program.

CFTC Weighs Appeal of Ruling on Speculative Limits

Posted: 09 Oct 2012 12:35 PM PDT

Staffers at the Commodity Futures Trading Commission have recommended that the agency appeal a federal court decision to overturn a rule limiting speculation in commodity markets.