"Wallstreet" Reader

"Wallstreet" Reader

SEC Drops Probe Into Wells Bonds

Posted: 28 Nov 2012 06:49 PM PST

The Securities and Exchange Commission closed a probe into whether Wells Fargo & Co. misled investors in mortgage bonds, the bank said Wednesday, marking at least the second such financial-era case dropped by regulators after a years-long investigation.

Obama Flexible on Top Tax Rates

Posted: 28 Nov 2012 07:10 PM PST

President Obama signaled he wouldn't insist tax rates on upper-income Americans rise to Clinton-era peaks as part of a deficit-reduction deal.


Eddy Cue: Apple's Rising Mr. Fix-It

Posted: 28 Nov 2012 05:14 PM PST

As Chief Executive Tim Cook shifts executive responsibilities around at Apple, Eddy Cue is emerging as one of the biggest beneficiaries.


Asian Shares Rise on U.S. Fiscal Talks News

Posted: 28 Nov 2012 07:46 PM PST

Asian markets were higher Thursday as overnight remarks on U.S. budget talks boosted sentiment. The Hang Seng added 0.5%.


Industry Fights New-Pilot Mandates

Posted: 28 Nov 2012 04:47 PM PST

Airline-industry officials are stepping up efforts to fight more-stringent training rules for new pilots, saying congressional mandates could lead to a nationwide shortage of commercial aviators.

Car Makers Say No Looking Back

Posted: 28 Nov 2012 07:57 PM PST

Auto industry executives are projecting continued gains next year on the U.S. car and truck market despite jitters over Washington's fiscal cliff debate, a wobbly stock market and sluggish growth elsewhere.


Costco to Spend $3 Billion on Special Dividend

Posted: 28 Nov 2012 05:46 PM PST

Costco Wholesale will spend $3 billion to pay a special dividend of $7 a share next month ahead of higher tax rates that may kick in come January.

Exxon Has an Oil Shortage

Posted: 28 Nov 2012 05:34 PM PST

The oil giant is counting on the Kearl oil-sands project in Canada and 20 other new projects to jump-start its slumping oil and gas output, which plummeted to three-year lows in its most recent quarter.

Standard Chartered Nears Iran Settlement

Posted: 28 Nov 2012 06:32 PM PST

The bank is likely to pay around $300 million in fines for allegedly violating U.S. sanctions against Iran, said people involved in the negotiations.

EU Proposes Plan for Euro-Zone Budget

Posted: 28 Nov 2012 01:35 PM PST

Officials proposed an overhaul that would create a common budget for the 17 nations using the single currency and grant powers to issue debt collectively backed by the currency bloc.

GM, China Partners Set $1 Billion Plant

Posted: 28 Nov 2012 04:13 PM PST

General Motors and Chinese joint venture partners agreed to build a third commercial vehicle factory in southwest China to meet growing demand and protect its status as the largest auto maker by volume in China.

Siemens to Buy Rail Business

Posted: 28 Nov 2012 01:03 PM PST

Siemens said it would buy the rail-automation unit of U.K. technology company Invensys for $2.8 billion and shed its own low-margin baggage-handling business, as the German group seeks to improve its profitability.

Disclosure on Trades Is Sought

Posted: 28 Nov 2012 07:05 PM PST

Following an exclusive WSJ report, some investors called for more disclosure on executives' stock transactions amid concern that some may be trading based on private information.

UPS Readies Concessions to Save TNT Deal

Posted: 28 Nov 2012 01:03 PM PST

UPS is preparing a set of concessions to win backing from European regulators for its planned purchase of TNT Express, though some of its shareholders have warned the company should drop the deal if the conditions become too onerous.

EU Nations Aim to Boost Web Firms' Tax Payouts

Posted: 28 Nov 2012 05:55 PM PST

Ministers from the U.K., Germany and France are meeting to discuss how to stop big multinationals from using legal loopholes to shift European profits to low-tax countries.

Brand-Name Drug Prices Rise, But Generics Get Cheaper

Posted: 28 Nov 2012 02:57 PM PST

Prices for more popular brand-name prescription drugs have surged over the past year, although falling prices for generics have restrained overall U.S. spending on medicine, pharmacy-benefit manager Express Scripts Holding said in a report.

Inmet Discloses Bid From First Quantum

Posted: 28 Nov 2012 01:56 PM PST

Inmet Mining rejected a $4.88 billion cash-and-stock offer from Canadian mining peer First Quantum Minerals.

Ex-Head of SNC-Lavalin Is Arrested

Posted: 28 Nov 2012 05:52 PM PST

Quebec provincial police arrested the former head of construction giant SNC-Lavalin, charging him with fraud, conspiracy to commit fraud and the use of false documents.

Fiat Plans to Expand Its Line in the U.S.

Posted: 28 Nov 2012 02:03 PM PST

Fiat, majority owner of Chrysler, plans to expand its line in the U.S. well beyond the 500 nameplate by adding larger cars and crossovers, a top brand executive said Wednesday.

Amazon Taps Veteran To Oversee U.S. Imprints

Posted: 28 Nov 2012 12:47 PM PST

Book publishing veteran Larry Kirshbaum has been promoted to oversee the editorial side of all of Amazon's U.S. publishing imprints, as the retailer expands its publishing efforts into Europe.