"Wallstreet" Reader

"Wallstreet" Reader

Battle Plan Shifts on Dodd-Frank

Posted: 08 Nov 2012 05:26 PM PST

While President Obama's victory means the Dodd-Frank law will stand, observers said the finance industry could yet trim some parts of the law because changes now are politically less risky for Democrats.

Chinese Inflation Moderates

Posted: 08 Nov 2012 06:41 PM PST

Inflation in China continued to moderate in October, showing that the government has room to further stimulate the economy if necessary.

Asian Shares Extend Losses On U.S. Fiscal Cliff Worries

Posted: 08 Nov 2012 06:40 PM PST

Asian shares fell Friday, extending Thursday's losses as concerns about the looming U.S. fiscal cliff dominated market sentiment. The Nikkei fell 0.9%.

Corporate Tax Cut Would Be Double-Edged Sword

Posted: 08 Nov 2012 05:08 PM PST

President Obama has said that the 35% U.S. corporate tax rate should be cut. That would mean lower tax bills for many companies. But it also could prompt large write-downs by Citigroup, AIG, Ford and other companies that hold piles of "deferred tax assets."

Gilt's Flash Hunt: New Chief

Posted: 08 Nov 2012 04:53 PM PST

Online luxury retailer Gilt Groupe quietly launched a search for a new CEO to replace co-founder Kevin Ryan as it looks toward an initial public offering in the next 18 months.

Banking's 'Worst Nightmare' Takes Fight to Senate

Posted: 08 Nov 2012 05:25 PM PST

Elizabeth Warren's victory in the Senate race in Massachusetts could make life far more uncomfortable for big banks than a role at the helm of the fledgling consumer agency she helped create.

Storm Cities' Debt Costs Could Rise

Posted: 08 Nov 2012 05:11 PM PST

More than two dozen New Jersey, New York and Connecticut communities hit hard by superstorm Sandy are facing a new threat—higher borrowing costs.


Virus Aimed at Iran Infected Chevron's Network

Posted: 08 Nov 2012 04:56 PM PST

Stuxnet, a computer virus that former U.S. officials say was created by the U.S. and Israel to attack Iran's nuclear-enrichment facilities, also infected Chevron's network in 2010, shortly after it escaped from its intended target.


MBIA Moves to Cure Its Crisis-Era Hangover

Posted: 08 Nov 2012 03:54 PM PST

Bond insurer MBIA rolled out a new strategy to shore up its finances and said it is seeking a settlement with Bank of America over a web of lawsuits.

Deal Ties Together Row 44, Advanced Inflight Alliance

Posted: 08 Nov 2012 02:58 PM PST

Two former Hollywood moguls have struck a $430 million deal to consolidate the fast-moving market for in-flight entertainment.

Disney Earnings Up 14%

Posted: 08 Nov 2012 04:41 PM PST

Disney's fiscal fourth-quarter income improved 14% as the company posted continued growth from its theme parks and media networks on the heels of a multibillion-dollar deal to acquire the Star Wars franchise.

Groupon's Shares Plummet

Posted: 08 Nov 2012 05:15 PM PST

Groupon's quarterly loss narrowed as the online-coupon service cut marketing costs but revenue growth continued to slow. Its shares tumbled after hours.

Priceline to Buy Kayak in $1.8 Billion Deal

Posted: 08 Nov 2012 07:26 PM PST

Priceline.com is buying Kayak in a $1.8 billion cash-and-stock deal, adding a travel search site that went public earlier this year.

TPC Agrees to Buyout From Investment Firms

Posted: 08 Nov 2012 11:39 AM PST

Chemical maker TPC agreed to be taken private by First Reserve and SK Capital after the investment firms raised their offer to roughly $713 million from $627 million.

CVS PBM Unit Names Drugs It Plans to Block Next Year

Posted: 08 Nov 2012 01:34 PM PST

CVS Caremark's pharmacy-benefit business is taking aim at certain treatments for low testosterone and glaucoma, among other conditions, in its latest push to steer members away from what it says are expensive drugs with available alternatives.

Storm-Struck IPOs Are Waylaid Again

Posted: 08 Nov 2012 12:47 PM PST

A trio of initial public offerings that were blown off course by Hurricane Sandy last week were struck again, this time by a market storm.

Boston Scientific to Buy Medical-Device Maker

Posted: 08 Nov 2012 12:08 PM PST

Boston Scientific agreed to pay as much as $425 million to buy privately held Vessix Vascular, a move seen getting the medical-device maker into a new but already competitive market for treating high blood pressure.

Money Funds' Plan Falls Flat

Posted: 08 Nov 2012 04:42 PM PST

SEC officials believe the industry's proposal to safeguard funds during a crisis—and head off new regulations—doesn't go far enough.

Iraq Says Exxon Asked To Discuss Field Sale With Other Firms

Posted: 08 Nov 2012 10:39 AM PST

Exxon Mobil has asked for permission to share data about the West Qurna 1 oil field project in Iraq with BP, Eni, Lukoil Holdings and a number of other companies, with the aim of selling part of its stake in the project, the head of Iraq's Southern Oil Co., Dhiaa Jafar, said Thursday.

Wal-Mart Faces India Investment Probe

Posted: 08 Nov 2012 08:09 PM PST

India's central bank has asked the enforcement wing of the finance ministry to investigate allegations that U.S.-based retailer Wal-Mart Stores illegally put money into a local supermarket chain.