"Wallstreet" Reader

"Wallstreet" Reader

BP Names New Head of Upstream Business

Posted: 23 Nov 2012 06:09 PM PST

BP has appointed Lamar McKay, president of BP America, as head of oil and gas production and development starting Jan. 1.

Holiday Price War Rages in Real Time

Posted: 23 Nov 2012 06:33 PM PST

The race between e-commerce retailers and their physical-store rivals continues. But bricks-and-mortar retailers are using their websites to match rivals' marquee discounts more aggressively than ever.

Turkey Swaps Gold for Iranian Gas

Posted: 23 Nov 2012 05:01 PM PST

Turkey acknowledged that a surge in its gold exports this year is related to payments for imports of Iranian natural gas, shedding light on Ankara's role in breaching sanctions against Tehran.

Judge Pens New Bankruptcy Chapter

Posted: 23 Nov 2012 04:28 PM PST

Bankruptcy Judge Thomas Bennett's brusque style is distinct from the fraternal culture common in courts in Manhattan and Delaware. The judge is driving the biggest municipal bankruptcy case in U.S. history.


SAS Labor Pact Runs Counter to Swedish Model

Posted: 23 Nov 2012 02:56 PM PST

The resolution of a labor battle at SAS has many wondering if the Swedish model that has fostered decades of workplace harmony is beginning to fray.

Wal-Mart Inquiry Deepens

Posted: 23 Nov 2012 06:30 PM PST

Wal-Mart's India unit has suspended a few employees as part of a probe into potential violations of the U.S. Foreign Corrupt Practices Act, a setback that comes as the retailer tries to expand its footprint in India.

GM Discusses French Factory Sale

Posted: 23 Nov 2012 06:36 PM PST

General Motors is in advanced negotiations to sell a transmission operation in Strasbourg, France, amid efforts to cut costs in its troubled European auto-making operations.

Wireless Carriers Chase Push-to-Talk Customers

Posted: 23 Nov 2012 02:54 PM PST

Competition is heating up among wireless carriers seeking to grab push-to-talk customers as Sprint is in the final stages of shuttering the legacy Nextel network it bought for $35 billion in 2005.

Ranbaxy Recalls Generic Lipitor Doses in U.S.

Posted: 23 Nov 2012 06:31 PM PST

Drug maker Ranbaxy has recalled more than 40 lots of its generic version of the cholesterol-lowering drug Lipitor from the U.S. market after finding batches containing small glass particles.

India Sells Bigger Chunk of Hindustan Copper

Posted: 23 Nov 2012 09:54 AM PST

Most of the bids in the government's sale of Hindustan Copper shares appear to have come from large government institutions, analysts said. The stock plunged by its 20% limit.

Default Fears Drive Up Cost of Insuring Argentine Debt

Posted: 23 Nov 2012 08:55 AM PST

The cost to insure Argentina's sovereign bonds against nonpayment soared 15% Friday to the highest level since April 2009 amid increased concern that the country may not honor its financial obligations in the next few weeks.

Labor Protesters Target Wal-Mart

Posted: 23 Nov 2012 03:51 PM PST

Protesters targeted Wal-Mart stores on Black Friday as part of a campaign waged by a union-backed group against the company's treatment of workers.

Firms Vie For Aston Martin Stake

Posted: 23 Nov 2012 06:16 PM PST

Italian buyout firm Investindustrial and Indian car maker Mahindra & Mahindra are competing to buy a 50% stake in U.K. luxury sports car maker Aston Martin from its Kuwaiti owner.

Baxter in $4 Billion Bid for Gambro

Posted: 23 Nov 2012 07:17 PM PST

Baxter International is in talks to buy Swedish medical-equipment maker Gambro for roughly $4 billion.

Enbridge Plans Alberta Pipeline Expansion

Posted: 23 Nov 2012 06:45 AM PST

Enbridge plans to go ahead with a $1.8 billion expansion of its mainline pipeline system in the oil-rich western Canadian province of Alberta after reaching agreements with shippers.

EU Budget Talks Collapse

Posted: 23 Nov 2012 05:49 PM PST

European leaders failed to reach agreement on the EU's budget, with wealthier countries saying there wasn't enough restraint in the proposed seven-year spending plan.

Treasurys Lose Ground to Stocks

Posted: 23 Nov 2012 01:03 PM PST

A robust Black Friday rally in U.S. stocks dimmed the allure of safe assets and nudged Treasury bonds marginally lower.

Magna, Avtotor Team Up for Auto Complex

Posted: 23 Nov 2012 11:55 AM PST

Auto-parts giant Magna International is teaming up with Russia's Avtotor to develop an automobile manufacturing cluster in the Kaliningrad region.

FBI Tried to Turn Trader Against Cohen

Posted: 23 Nov 2012 08:28 AM PST

A year before prosecutors charged Mathew Martoma with insider trading, they tried to get him to turn against his former boss and the founder of SAC, Steven A. Cohen.

Germany Halts Swiss Tax Deal

Posted: 23 Nov 2012 06:22 AM PST

A controversial German-Swiss tax treaty was blocked by Germany's upper house of parliament, dealing a political blow to Chancellor Angela Merkel's ruling coalition ahead of key national elections next year.