"Wallstreet" Reader

"Wallstreet" Reader

Pandit Gets a $6.7 Million Bonus

Posted: 09 Nov 2012 07:21 PM PST

Citigroup awarded former CEO Vikram Pandit, who was forced to resign, a $6.7 million bonus for 2012, but Mr. Pandit will not receive any termination pay.

Morgan Stanley Sues Skowron

Posted: 09 Nov 2012 07:03 PM PST

Morgan Stanley sued a former hedge-fund manager and onetime managing director at the bank, saying an insider-trading scheme for which he has been imprisoned cost the firm tens of millions of dollars.

The Stock-Fund Mystery

Posted: 09 Nov 2012 05:48 PM PST

Stock picking should be easier than it was in 2011. Yet actively managed stock funds still are having a difficult a time beating the market.

Incoming Lockheed Martin CEO Resigns

Posted: 09 Nov 2012 07:58 PM PST

Lockheed Martin ousted its incoming CEO, Chris Kubasik, following an "improper" relationship with a subordinate.

BBC Rocked by Another Scandal

Posted: 09 Nov 2012 07:30 PM PST

The BBC faced further scandal as the company apologized after an alleged sex-abuse victim said he had wrongly accused a former politician of being his attacker in a BBC investigative report.

Greece Tries Again to Cut Tax Evasion

Posted: 09 Nov 2012 07:20 PM PST

Customers in Greece will be able to walk away without paying if they don't receive a record of their transaction, under new rules that aim to curb tax evasion.

American Air, Pilots Union Agree on Terms of New Contract

Posted: 09 Nov 2012 03:42 PM PST

More than three months after American Airlines pilots overwhelmingly rejected a concessionary contract from AMR, the Allied Pilots Association union said its negotiators and those of American reached an agreement in principle on a new accord.

Spotify Nears Financing at Over $3B Valuation

Posted: 09 Nov 2012 07:10 PM PST

Spotify is in the midst of closing a round of financing that will value the Internet music service at slightly more than $3 billion.

Zoo's Debt Deal on Hold in Sandy's Wake

Posted: 09 Nov 2012 07:46 PM PST

The $112 million bond sale for the Bronx Zoo and New York Aquarium is postponed while damage from superstorm Sandy is assessed.

Lonmin Rebuffed Offer From Xstrata

Posted: 09 Nov 2012 07:36 PM PST

The strike-damaged platinum miner disclosed its rival's proposal while announcing a $410 million loss for 2012.

U.K. to Cut Debt Using Bond Gains

Posted: 09 Nov 2012 03:00 PM PST

The U.K. Treasury said it will use profits from the Bank of England's bond-buying program to knock billions of pounds off its annual borrowing bill in the short term.


Japanese Car Sales in China Remain in Funk

Posted: 09 Nov 2012 07:47 PM PST

Japanese car makers suffered a second consecutive month of sharply lower sales in China under the cloud of a territorial dispute between the two major trading partners.

Rockwell to Sell China Aircraft Safety Devices

Posted: 09 Nov 2012 03:23 PM PST

Rockwell Collins received commitments from the Chinese government to install key safety devices on hundreds of passenger jets.


Google Service Disrupted in China

Posted: 09 Nov 2012 02:57 PM PST

Google said its Web services in China have encountered widespread disruptions over the past eight hours or so.


CFTC Charges Ex-Goldman Trader With Concealing Big Trade

Posted: 09 Nov 2012 12:26 PM PST

The CFTC accused a former trader at Goldman Sachs of defrauding his employer by intentionally concealing an $8.3 billion futures position that led to a realized loss of $118.4 million.

Greece Aid Hinges on Creditor Talks

Posted: 09 Nov 2012 03:50 PM PST

Euro-zone finance ministers will make a fresh attempt to resolve Greece' debt conundrum, but they are unlikely to reach a decision to unlock aid funds.

Small Banks May Need Separate Lending Rules, Fed's Duke Says

Posted: 09 Nov 2012 12:38 PM PST

A top U.S. banking official said regulators and lawmakers should consider separate lending rules for community banks, saying several new regulations stemming from the financial crisis could "seriously impair" lending at smaller institutions.

John W. Henry to Stop Managing Client Money

Posted: 09 Nov 2012 06:53 PM PST

John W. Henry, a trading firm controlled by the principal owner of baseball's Boston Red Sox, told clients it will stop managing their money amid dwindling assets and several years of disappointing returns.

Electronics Firms Face EU Fines

Posted: 09 Nov 2012 10:24 AM PST

Royal Philips Electronics NV, Panasonic Corp., LG Electronics and three other firms face European Union fines later this month for allegedly fixing the prices of cathode-ray tubes used in televisions and computer monitors.

CPP Investment Board Generates 1.9% Return in 2Q

Posted: 09 Nov 2012 08:17 AM PST

Canada's biggest pension fund generated a 1.9% return on its portfolio in the ended Sept. 30, benefitting from gains across global equity markets and from income generated by active investment strategies.