"Wallstreet" Reader

"Wallstreet" Reader

Funds Bet Against Japan Inc.

Posted: 15 Nov 2012 07:37 PM PST

Some U.S. hedge funds have set their sights on Japan's corporate titans, buying credit-default swaps tied to debt of electronics makers, including Sony and Panasonic, and of commodity exporters, such as Nippon Paper and Kobe Steel.

Asian Shares Mixed

Posted: 15 Nov 2012 07:05 PM PST

Asian shares were mixed Friday, with the Japanese market continuing to outperform the region on the back of a weaker yen. The Nikkei climbed 1.9%.

All Eyes on NBCU News Chairman

Posted: 15 Nov 2012 04:52 PM PST

Pat Fili-Krushel made her presence felt as chairman of NBCUniversal News Group, playing a key role in this week's shake-up at the 'Today' show.

KKR Pitches Its New Funds---and Itself

Posted: 15 Nov 2012 04:24 PM PST

KKR & Co. is one of the better-known firms in finance. But as it tries to break into the mutual-fund business, it isn't taking its reputation for granted—attending an investor conference this past week to pitch its offerings.

Google, Dish Held Talks to Launch Wireless Service

Posted: 15 Nov 2012 04:59 PM PST

Google has held talks with satellite-TV provider Dish Network to partner on a new wireless service that would rival offerings from carriers such as AT&T and Verizon.

Awkward Spot for Citi's CEO

Posted: 15 Nov 2012 06:57 PM PST

Michael Corbat, the new CEO of Citigroup, was in Tokyo with Vikram Pandit just before Mr. Pandit was ousted from the bank. Mr. Corbat's proximity to Mr. Pandit at the time of the coup is just one of the delicate matters confronting the boss of the nation's third-biggest bank by assets.

U.S. Gears Could Soon Be Grinding Less

Posted: 15 Nov 2012 07:21 PM PST

Ahead of the Tape: That humming sound in the background comes from America's busy factories. Unfortunately, one reason you can hear it so clearly is the relative quiet in most other parts of the world.

FHA to Exhaust Capital Reserves

Posted: 15 Nov 2012 06:29 PM PST

The Federal Housing Administration's projected losses hit $16.3 billion at the end of September, according to an independent annual audit to be released Friday, a much larger figure than had been forecast earlier.

FedEx, UPS Probed on Drug Shipments

Posted: 15 Nov 2012 05:04 PM PST

The U.S. is targeting America's two biggest shipping companies, FedEx and United Parcel Service, as part of an expanding crackdown against illegal sales of prescription painkillers.

Web Retailer Zulily Raises $85 Million

Posted: 15 Nov 2012 02:53 PM PST

Zulily raised $85 million in a deal that values the children's accoutrements Internet retailer at $1 billion, vaulting it into the billion-dollar club of privately held companies.

Yen's Slide Is Unlikely to Last

Posted: 15 Nov 2012 02:02 PM PST

Investors are likely to stay bearish toward the yen for a while longer, but strategists doubt it will lose its safe-haven status.


Gold Drops as Demand Slumps

Posted: 15 Nov 2012 02:53 PM PST

Global gold demand fell 11% during the third quarter compared with a year ago, the World Gold Council said.

FTC Approves Hertz's Takeover of Dollar Thrifty

Posted: 15 Nov 2012 02:39 PM PST

The Federal Trade Commission approved Hertz Global's $2.3 billion bid to buy Dollar Thrifty, clearing the way for the car-rental rivals to complete the deal this year.

Google Preps Maps App for iPhones

Posted: 15 Nov 2012 02:11 PM PST

Google has distributed a test version of its new mapping app for Apple's iPhones and is getting ready to submit for approval to the Apple iTunes store.

Dell Profit Down 47% as PC Sales Fall

Posted: 15 Nov 2012 03:48 PM PST

Dell's quarterly earnings fell 47% as the computer giant again recorded weaker PC sales, though its server and networking revenue strengthened.

Fed to Test Banks on Severe Recession

Posted: 15 Nov 2012 03:00 PM PST

Banks will be tested on their ability to withstand a severe recession—including a sharp slowdown in China—as part of a new round of 'stress tests.'

Gap Earnings Rise 60%

Posted: 15 Nov 2012 03:40 PM PST

Gap's fiscal third-quarter profit jumped 60% as the retailer posted growing same-store sales in North America and stronger margins.

Ex-Needham CFO Arrested in Theft

Posted: 15 Nov 2012 05:49 PM PST

The former chief financial officer of Needham was arrested for allegedly stealing more than $1 million from the brokerage firm and using it for a variety of personal expenses, including landscaping at his home and the purchase of thousands of dollars of wine.


Goldman Names Managing Directors

Posted: 15 Nov 2012 01:23 PM PST

Goldman Sachs named 266 managing directors, up from 261 last year, one day after announcing the smallest class of new partners since its 1999 initial public offering.

Glaxo Settles Avandia Suits

Posted: 15 Nov 2012 01:14 PM PST

Glaxo agreed to pay $90 million to resolve allegations by prosecutors in 38 states that the pharmaceutical company illegally marketed the diabetes drug Avandia.