"Wallstreet" Reader

"Wallstreet" Reader

Merck Cancer Drug Shows Promise

Posted: 11 Nov 2012 06:28 PM PST

Merck & Co. said an experimental cancer drug showed promise in an early-stage trial of skin-cancer patients, staking the company's ground in an emerging race to develop medicines that unleash the immune system's power to fight malignancies.

GM Nears Deal for Ally Assets

Posted: 11 Nov 2012 05:37 PM PST

General Motors is closing in on a deal to buy Ally Financial's European and Latin America operations for around $4 billion, a person familiar with the talks said.

Cisco Calls Patent Trolls Racketeers

Posted: 11 Nov 2012 06:52 PM PST

Cisco Systems has unveiled a new strategy for dealing with so-called patent trolls: accuse them of breaking the law.

Asian Shares Mixed

Posted: 11 Nov 2012 06:47 PM PST

Asian markets were mixed as Chinese trade data supported sentiment, while Japan stocks were weighed by downbeat growth data. The Nikkei falls 0.7%.

China to Boost Foreign Investment Quotas

Posted: 11 Nov 2012 05:36 PM PST

China will further raise investment quotas under its Qualified Foreign Institutional Investors program, which gives foreign capital access to the country's capital markets.

Pressures at Times Co. Will Test New CEO

Posted: 11 Nov 2012 05:33 PM PST

Mark Thompson's debut at the helm of New York Times Co. Monday signals he has survived the doubts that have dogged him since the Jimmy Savile scandal erupted at the BBC. But big challenges await him at his new job.

White House Plans Public Appeal for Support on Deficit

Posted: 11 Nov 2012 07:50 PM PST

The White House is planning an aggressive public campaign to build support for its proposal to reduce the deficit through tax increases and spending cut.

Jailed Banker Is Rare Prize for Prosecutors

Posted: 11 Nov 2012 04:55 PM PST

When Jerry Williams walked into a federal prison in August, the U.S. government got a small win in its efforts to put people behind bars for crimes tied to the financial crisis.

Drama Over Detained Ship Intensifies

Posted: 11 Nov 2012 06:49 PM PST

Argentine sailors, whose ship has been detained for more than a month in Ghana by a hedge fund seeking repayment of a debt, drew guns last Wednesday and threatened to shoot port workers attempting to move their Navy boat, according to a lawyer for the port.

Lockheed Executive Vaulted to the Top

Posted: 11 Nov 2012 05:59 PM PST

Marillyn Hewson, the longtime Lockheed Martin executive named on Friday to become the next CEO, didn't expect the appointment but readily agreed to take the job, despite the uncertainty with the government's "fiscal cliff."

Promoter AEG, StubHub to Align

Posted: 11 Nov 2012 05:43 PM PST

Anschutz Entertainment Group plans to make eBay's ticket-resale site, StubHub, an official partner of its new ticketing service.

Japan's Economy Shrinks in Quarter

Posted: 11 Nov 2012 06:54 PM PST

Japan's economy shrank by 3.5% in the third quarter, reversing its strong burst of growth at the start of the year and highlighting the deep-seated obstacles to recovery facing both Japan and the global economy as a whole.

Complex Voting Puts Glencore Deal at Risk

Posted: 11 Nov 2012 08:00 PM PST

The Xstrata-Glencore merger will face another obstacle when its complex voting process is put to the test next week.

Tax Threat Prompts Selloff

Posted: 11 Nov 2012 04:31 PM PST

Politicians are battling over which Americans will pay higher taxes. But many investors aren't waiting to find out the answer. The prospect of higher taxes on capital gains is prompting many to unload some of their winning stocks.


New Scandal Creates Crisis at BBC

Posted: 11 Nov 2012 07:42 PM PST

The BBC was plunged into disarray as its top executive resigned over the mishandling of two sex-abuse reports.

Best Buy to Name CFO

Posted: 11 Nov 2012 04:10 PM PST

Sharon McCollam, the former Williams-Sonoma CFO who retired abruptly in March, is coming out of retirement to be CFO at Best Buy Co. at the end of the year, according to a person close to the company.

Air-Emission Talks Please EU Officials

Posted: 11 Nov 2012 01:58 PM PST

EU officials said they were optimistic the United Nations could help defuse a spat over the bloc's levy on greenhouse gas emissions for aircraft, though opponents have yet to back down from retaliatory moves.

More Sticks, Carrots in Health-Care Plans

Posted: 11 Nov 2012 02:09 PM PST

Benefits-enrollment season is here, and for many employees, health coverage next year will come with higher costs and more incentive to improve one's health.

Sawiris Bids for Telecom Italia Stake

Posted: 11 Nov 2012 03:04 PM PST

Egyptian entrepreneur Naguib Sawiris has made an offer to invest as much as $6.36 billion to buy a large stake in Telecom Italia.

Spain Looks to Ease Foreclosure Laws

Posted: 11 Nov 2012 02:54 PM PST

Spanish government and opposition leaders are moving toward an agreement to loosen housing-foreclosure laws amid an uproar over the suicides of two homeowners who were facing eviction.