"Wallstreet" Reader

"Wallstreet" Reader


SEC Expands Knight Probe

Posted: 13 Nov 2012 06:02 PM PST

The SEC has deepened its inquiry into whether Knight Capital did enough to police its trading systems before computer errors saddled it with losses and nearly destroyed the brokerage.

Creditors Seek to Sue Dewey's Ex-Leaders

Posted: 13 Nov 2012 05:53 PM PST

A group of creditors owed millions of dollars by Dewey & LeBoeuf is seeking to sue its former top three managers, saying the trio "engaged in rampant self-dealing" that led to the law firm's demise.

Asian Shares Mixed

Posted: 13 Nov 2012 06:33 PM PST

Asian shares were mixed taking pause after several days of declines, while Sharp Corp. jumped in Tokyo on reports of a possible tie-up with Intel. The Hang Seng was up 0.6%.

General Growth Keeps Its Eyes on Prize

Posted: 13 Nov 2012 04:51 PM PST

CEO Sandeep Mathrani has a message for activist investor William Ackman: Back off.

Game Makers Push to Make Ratings Consistent Across All Platforms

Posted: 13 Nov 2012 04:52 PM PST

Videogames have long been rated for violence and sexual imagery, but the situation is different for games played on social networks or mobile devices. Some prominent players are pushing for change—and consistency.

Executive Producer Leaves NBC's 'Today' Show

Posted: 13 Nov 2012 03:30 PM PST

The executive producer of NBC's 'Today' show, Jim Bell, is leaving. The morning show has lost ground to ABC's "Good Morning America" over the past several months.

Chesapeake Sees Dimming Oil Prospects in Ohio

Posted: 13 Nov 2012 03:13 PM PST

Chesapeake Energy's prospects of coaxing crude oil from Ohio's rust belt have dimmed, the company's chief executive said, though he maintained the region remains key to the natural-gas giant's future.

Financial Watchdogs Move to Rein In Money Funds

Posted: 13 Nov 2012 04:29 PM PST

A council of top U.S. regulators took the first official step toward imposing new rules on $2.6 trillion in money-market funds, a move that will put pressure on the SEC after it declined to back new rules in August.

China-Made Jet Lures More Orders

Posted: 13 Nov 2012 02:51 PM PST

China's first homegrown commercial jetliner got a boost with new orders for 50 more planes, though a lack of foreign airline interest and concerns over development delays continue to cloud its prospects.

Canada Delays Balanced-Budget Target

Posted: 13 Nov 2012 03:06 PM PST

Canada delayed by a year its target to balance its budget, underscoring the extent of new economic headwinds buffeting even some of the world's healthiest developed economies.


AMD Says Not for Sale

Posted: 13 Nov 2012 02:21 PM PST

Advanced Micro Devices said it isn't putting itself up for sale, dispelling reports that triggered a rise in the chip maker's shares.

Cisco Profit Rises; Challenges Persist

Posted: 13 Nov 2012 05:28 PM PST

Cisco's quarterly profit jumped 18% as the network-equipment maker reported higher revenue and continued to benefit from fewer restructuring charges.

IPG's McCann Gets New CEO

Posted: 13 Nov 2012 02:13 PM PST

Interpublic Group named Harris Diamond as CEO of its largest unit, McCann WorldGroup, succeeding Nick Brien.

Zynga Makes More Executive Changes

Posted: 13 Nov 2012 05:47 PM PST

Zynga's chief financial officer is leaving for a senior position at Facebook, while its mobile chief will take on the role of chief operating officer.

Carlyle Group to Make Africa Investment

Posted: 13 Nov 2012 04:39 PM PST

The buyout specialist is expected to unveil the first investment of its new Sub-Saharan Africa Fund.

Insider-Trading Trial Begins for Fund Managers

Posted: 13 Nov 2012 04:43 PM PST

Prosecutors said the two former hedge-fund managers were part of a "corrupt chain" who traded on inside information. The defense argued that their clients made decisions based on legitimate research.

Videogames Boost Vivendi

Posted: 13 Nov 2012 01:26 PM PST

Vivendi raised its full-year profit guidance after better-than-expected quarterly results from both its media and telecommunications businesses. Earnings jumped at the Activision Blizzard game unit.

Best Buy CEO Eyes Cost Cuts, Online Sales

Posted: 13 Nov 2012 10:38 AM PST

Best Buy's newly appointed CEO, Hubert Joly, unveiled a strategy to stem the deterioration of the electronics retailer's sales and profit margins, in part by focusing on online sales and cutting costs.

McDonald's Says Tough Economy Is 'New Normal'

Posted: 13 Nov 2012 02:36 PM PST

McDonald's showed enviable resilience during the recent recession, but its chief executive said the tough sledding has gone on longer than expected.

Beijing's Big Stick Against Megaships

Posted: 13 Nov 2012 04:27 PM PST

Beijing's decision to bar Brazilian miner Vale's iron-ore megaships illustrates the blurred line between China's state-owned enterprises and the country's regulators.