"Wallstreet" Reader

"Wallstreet" Reader

Chesapeake Governance Measures Fail in Vote

Posted: 14 Jun 2013 06:51 PM PDT

After a year of successfully pushing for sweeping changes at Chesapeake Energy, shareholders Friday failed to adopt board-transparency measures some investors had been demanding for years.

Aetna to Leave California Individual Insurance Market

Posted: 14 Jun 2013 06:17 PM PDT

Aetna will stop selling health insurance to individual consumers in California at year-end, withdrawing as the federal health law is expected to reshape the market in 2014.

Banks Urged to Better Fend Off Cyber Attacks

Posted: 14 Jun 2013 07:19 PM PDT

U.S. regulators are stepping up calls for banks to better-arm themselves against the growing online threat hackers and criminal organizations pose to individual institutions and the financial system as a whole.

Even Jay-Z Can't Help Bond Sale

Posted: 14 Jun 2013 07:37 PM PDT

Jay Z's star power didn't extend to his involvement with Iconix Brand Group's bond offering. The company paid a higher-than-marketed 4.375% to sell $275 million of securities, as investors edge back from riskier assets.

Merck Cuts Layer of Research Managers

Posted: 14 Jun 2013 04:54 PM PDT

Merck is cutting jobs and stripping a layer of senior management from its research-and-development arm, as its new chief seeks to turn around a unit he said was marked by "the complexity of our organizational design."

Generic-Drug Firms Go Beyond Knockoffs

Posted: 14 Jun 2013 07:58 PM PDT

Ranbaxy, Teva and other generic-drug makers are coming to grips with a drop in blockbuster brand-name medicines going off patent. One strategy: selling brand-name medicines.

In Japan, Aversion to Mergers Runs Deep

Posted: 14 Jun 2013 07:59 PM PDT

A failed attempt to merge Kawasaki and Mitsui's shipbuilding arms shows the difficulties Prime Minister Abe faces in convincing staunchly independent Japanese firms they need to consolidate to spur growth.

J.P. Morgan to Shed Private-Equity Unit

Posted: 14 Jun 2013 04:34 PM PDT

J.P. Morgan said it will divest its private-equity operation, a low-key unit that recently has been hampered by uneven returns and uncertainty about its role within the bank.

Pennies or Bankruptcy, Detroit Tells Creditors

Posted: 14 Jun 2013 04:33 PM PDT

Detroit is proposing to pay unsecured lenders fewer than 10 cents on the dollar as part of a restructuring plan that would invest $1.25 billion in public safety and blight removal.

EU Deal Paves Way for U.S. Trade Talks

Posted: 14 Jun 2013 06:31 PM PDT

European Union ministers overcame clashes between France and its partners over the potential impact of a trans-Atlantic trade deal on subsidies for filmmakers and other artists.

Jet Shows Its Maneuverability---on the Ground

Posted: 14 Jun 2013 02:58 PM PDT

A nondescript, second-hand test aircraft is slated to make aviation history at the Paris Air Show—without ever getting off the ground. The demonstration is designed to show off a prototype system from Honeywell International and its French partner, Safran, that saves jet fuel by using electric motors attached to both sides of the main landing gear to move jetliners around the tarmac.

Caterpillar Plans for Layoffs in Wisconsin

Posted: 14 Jun 2013 02:34 PM PDT

Caterpillar said it would lay off one-third of its production workforce in Wisconsin in response to falling demand for mining equipment.

Walmex Puts Restaurant Business Up for Sale

Posted: 14 Jun 2013 02:21 PM PDT

Mexico's biggest retailer, Walmex, which has been struggling to reinvigorate sales at its core supermarket business, has put its Vips restaurant chain up for sale.

Unilever Seeks Buyer for Wish-Bone Salad Dressing

Posted: 14 Jun 2013 01:19 PM PDT

Unilever is seeking a buyer for its Wish-Bone salad-dressing business, the latest well-known food brand the Anglo-Dutch conglomerate has put on the block as it shifts its focus toward personal-care products.

Toys 'R' Us Reports Loss, Weak Sales

Posted: 14 Jun 2013 02:16 PM PDT

Toys "R" Us posted a quarterly loss as weaker demand for electronics and seasonal toys kept sales growth in check.

Greek Bank Avoids Full State Control After Raising Capital

Posted: 14 Jun 2013 12:03 PM PDT

Greece's biggest lender, the National Bank of Greece, has completed its long-awaited capital increase, raising enough money from private investors to avoid a complete nationalization.

Kraft Tightens Grocery Businesses

Posted: 14 Jun 2013 02:22 PM PDT

Kraft Foods is splitting its grocery segment into two new business unit to create a tighter focus on products that fall within similar categories.

Outsiders Grab Control of Morgans Hotel Board

Posted: 14 Jun 2013 03:58 PM PDT

Dissident shareholder OTK Associates gained control of Morgans Hotel Group Corp.'s board Friday, likely reducing the chances the trendy hotel operator will sell itself.

Wider Bid to Find Cash Kept Overseas

Posted: 14 Jun 2013 07:22 PM PDT

U.S. authorities intensified efforts to pry information out of Liechtenstein that could come back to haunt Americans hiding money in tax havens.

Elan Puts Itself Up for Sale

Posted: 14 Jun 2013 02:01 PM PDT

Irish drug maker Elan put itself up for sale, days before a shareholder vote to determine the future direction of the company and ending a four-month struggle to defend itself against takeover approaches from Royalty Pharma.