"Wallstreet" Reader

"Wallstreet" Reader


China Tightens Reins on Macau

Posted: 03 Dec 2012 07:59 PM PST

The Chinese government is increasing its scrutiny of Macau's casino industry and the junket operators that bankroll its high-rolling gamblers, the first sign of a crackdown on corruption by China's new leaders.

In Trouble and Paying Out

Posted: 03 Dec 2012 07:44 PM PST

Financially ailing companies such Hostess Brands often pay bonuses to executives before filing for bankruptcy protection. Federal law restricts "retention" bonuses paid to such "insiders" after a bankruptcy case is filed but not before.

Frankfurt's Ambitions Get Cut Back

Posted: 03 Dec 2012 07:46 PM PST

A wave of layoffs and staff reductions by international investment banks is hitting Germany's financial capital, dealing another blow to Frankfurt's aspirations to rival London as a financial center.

Asian Shares Fall

Posted: 03 Dec 2012 06:26 PM PST

Asian markets fell Tuesday tracking a negative lead from Wall Street while investors in Australia awaited the RBA's policy decision. The S&P/ASX 200 fell 0.2%.

Conviction Overturned in Drug-Marketing Case

Posted: 03 Dec 2012 06:05 PM PST

A federal appeals-court panel overturned the conviction of a pharmaceutical salesman for so-called off-label drug marketing, saying he was protected by free-speech rights.

Calpers Crusader Aims at Fees

Posted: 03 Dec 2012 06:21 PM PST

Réal Desrochers of Calpers spearheads a campaign to lower fees the pension system pays to private-equity firms.

Medicare Fraud Is Charged

Posted: 03 Dec 2012 05:54 PM PST

Life Care Centers of America, a Tennessee-based nursing-care company, systematically defrauded Medicare of millions of dollars, according to a federal complaint.

Groups Press to Focus U.S. Energy Strategy

Posted: 03 Dec 2012 04:07 PM PST

With the Obama administration considering a reshuffling of top energy jobs, former administration officials and political heavyweights from both parties are calling on the White House to craft a national energy strategy.

Top U.S. Firms Are Cash-Rich Abroad, Cash-Poor at Home

Posted: 03 Dec 2012 05:45 PM PST

Many U.S. firms are cash rich abroad but cash poor at home, and the SEC worries they haven't presented investors with an honest appraisal of their liquidity.

Cerberus May Join Virtu's Bid for Knight Capital

Posted: 03 Dec 2012 04:37 PM PST

Cerberus Capital Management is in talks to join Virtu Financial's bid for U.S. brokerage Knight Capital.

Regulators Study Libor Proposals

Posted: 03 Dec 2012 05:45 PM PST

U.S. officials said Monday that they are digging into global efforts to overhaul a key interest rate that affects everything from credit-card rates to municipal debt prices.

In World of Big Stuff, the U.S. Still Rules

Posted: 03 Dec 2012 03:33 PM PST

At a time when politicians are hoping for a job-creating revival of American manufacturing, heavy equipment is one area where U.S.-based plants are still global champions.

Soy Climbs as Argentina Rains Spark Supply Worry

Posted: 03 Dec 2012 04:52 PM PST

U.S. soybean futures rose 1% Monday, as heavy rains delayed the planting of a new soy crop in parts of Argentina.

IMF Eases Its Blanket Opposition to Capital Controls

Posted: 03 Dec 2012 03:24 PM PST

The International Monetary Fund cautiously endorsed measures to limit surges of capital across borders, easing off decades of gospel about the free flow of money around the world.

Motorola Denied Microsoft Injunction

Posted: 03 Dec 2012 06:12 PM PST

A Seattle judge has dismissed Motorola Mobility's request for an injunction on Microsoft products because they could infringe standard essential patents.

German Luxury-Car Brands Surge in U.S.

Posted: 03 Dec 2012 02:08 PM PST

BMW, Daimler's Mercedes-Benz marque and Volkswagen's Audi brand racked up record U.S. sales in the luxury auto market last month.

Oracle to Pay Dividends in December

Posted: 03 Dec 2012 05:11 PM PST

Oracle said it will pay three quarters worth of dividends in December, including nearly $200 million to CEO Larry Ellison, joining other firms trying to get ahead of higher taxes next year.

House Democrats: MF Global 'Blatantly Misled' Regulator

Posted: 03 Dec 2012 03:49 PM PST

House Democrats urged regulatory action against MF Global in a report, saying the former broker-dealer "blatantly misled" a securities regulator about its exposure to European sovereign debt in September 2010.

Canada Regulator Faults Ernst Over Sino-Forest Work

Posted: 03 Dec 2012 02:15 PM PST

The Ontario Securities Commission accused Sino-Forest's auditors, Ernst & Young, of failing to adequately audit the forest-product company's financial results over a four-year period.

Huaxing Pleads Guilty to Illegal Export Charges in U.S.

Posted: 03 Dec 2012 01:27 PM PST

A construction company controlled by China pleaded guilty in an investigation of illegal exports of coatings from the U.S. to a nuclear-power plant in Pakistan, the U.S. said.