"Wallstreet" Reader

"Wallstreet" Reader


LPL Hires Ex-Official of SEC

Posted: 19 Jun 2013 07:39 PM PDT

LPL Financial has hired the former head of the SEC's Boston office, as the brokerage-firm operator overhauls management in the wake of the biggest regulatory fine in its history.

China's Manufacturing Activity Slows

Posted: 19 Jun 2013 07:57 PM PDT

An initial indicator of China's manufacturing activity in June fell to a nine-month low, in the latest sign that the world's No. 2 economy is headed for a second consecutive quarter of sluggish economic growth.

Fed Result, China PMI Weigh on Asian Shares

Posted: 19 Jun 2013 07:59 PM PDT

Asian markets were lower Thursday in the wake of Wednesday's Federal Reserve policy meeting outcome and a weak China PMI reading. The Hang Seng fell 2.2%.

Optimists Not Wrong This Time on Rite Aid

Posted: 19 Jun 2013 06:56 PM PDT

Ahead of the Tape: The rally is "rite" on schedule for Rite Aid, with shares up sharply in 2013. Will the pharmacy chain be able to hang on to the gains this time?

Goldman Left Out of Smithfield Deal

Posted: 19 Jun 2013 06:39 PM PDT

Goldman Sachs lost out on an advisory role in one of the most significant deals this year—the sale of Smithfield Foods to China's Shuanghui International Holdings—because of its investment in the Chinese company, according to people familiar with the matter.

Embraer and Bombardier Orders Diverge

Posted: 19 Jun 2013 06:42 PM PDT

Smaller-jet makers Embraer and Bombardier have drawn attention with contrasting order books at the Paris Air Show, with Bombardier yet to snare any orders for its coming CSeries jets.

SandRidge CEO Ousted, Gets $90 Million Exit Pay

Posted: 19 Jun 2013 07:53 PM PDT

SandRidge Energy chief Tom Ward was ousted by the company's board and given an about $90 million severance package following a probe of dealings with businesses controlled by members of his family.

Microsoft Explored Deal for Nokia

Posted: 19 Jun 2013 07:15 PM PDT

Microsoft was recently in advanced discussions with Nokia about a purchase of its device business, in a marriage that could have reshaped the mobile-phone industry.

Lenovo Turns to Phones as PC Industry Declines

Posted: 19 Jun 2013 07:17 PM PDT

Lenovo gets over 80% of its revenue from PCs, but amid a decline in the computer market it's seeking to increase its smartphone sales outside China.

U.K. Mulls Breakup of RBS

Posted: 19 Jun 2013 07:23 PM PDT

The British government is considering splitting RBS into two banks: one housing the lender's healthy assets and the other containing its pile of troubled loans and securities, the U.K. Treasury chief said.

Health-Insurance Exchanges Behind Schedule

Posted: 19 Jun 2013 12:30 PM PDT

Government officials have missed several deadlines to set up new health-insurance exchanges for small businesses and consumers—a key part of the federal health overhaul, Congress's watchdog arm said.

Dolce and Gabbana Convicted of Tax Evasion

Posted: 19 Jun 2013 06:45 PM PDT

A Milan court has convicted the designers Domenico Dolce and Stefano Gabbana of tax evasion. The court sentenced them both to one year and eight months in jail.

Hermès Files Suit Against LVMH

Posted: 19 Jun 2013 09:49 AM PDT

The fashion company is seeking to cancel derivative transactions through which its rival built up a stake.

Brazil Regulator Questions Meat Packer JBS on Derivatives

Posted: 19 Jun 2013 09:48 AM PDT

Brazil's securities regulator has expressed concerns about how JBS, the world's largest meat packer, uses derivatives.

Swiss Reject U.S. Banks Deal

Posted: 19 Jun 2013 06:19 PM PDT

Swiss lawmakers nixed a proposal to let Swiss banks avoid the threat of prosecution in the U.S. by collectively coming clean about their dealings with suspected American tax evaders.

Founder Gets Boot at Men's Wearhouse

Posted: 19 Jun 2013 06:12 PM PDT

Clothing chain Men's Wearhouse terminated its founder and public face, George Zimmer, from his position as executive chairman. Mr. Zimmer said he was being silenced after expressing concerns about the direction.

China Banks Warn of Loan Woes

Posted: 19 Jun 2013 06:17 PM PDT

A cash squeeze gripping China's financial markets is beginning to trickle into the broader economy, as bank executives warn of higher interest rates and more-cautious lending.

Traders Try to Game Oil-Price Benchmark

Posted: 19 Jun 2013 12:01 PM PDT

Some oil traders say they try to skew Platts oil-price benchmarks by offering to do small deals at a loss, with the goal of doing bigger ones at better prices.

Tesla Recall Cites Faulty Latch

Posted: 19 Jun 2013 03:34 PM PDT

Tesla Motors is recalling some Model S electric sedans to fix a rear-seat latch that it fears could fail in a crash.

For Some Investors Emerging Markets Still Provide a Lure

Posted: 19 Jun 2013 07:51 AM PDT

Some investors are betting recent losses for emerging-market stocks, currencies and bonds will prove to be a temporary setback.