WSJ.com: What's News US

Facebook Gets Ready For Its IPO Filing

Sat, 28 Jan 2012 14:54:17 EST

Facebook could file papers for an IPO as early as this coming week and is looking at a valuation of $75 billion to $100 billion. The social network is close to picking Morgan Stanley as the lead underwriter.

Apollo in Talks for El Paso Unit

Sat, 28 Jan 2012 16:27:30 EST

A group led by private-equity firm Apollo Global Management has emerged as the lead bidder to acquire El Paso's oil-exploration unit for about $7 billion.

As Economy Posts Growth, Worry Lingers

Sat, 28 Jan 2012 06:15:14 EST

The U.S. economy grew at its fastest pace in 18 months in the fourth quarter, but underlying weak demand pointed to slower growth in coming months.

Dow Snaps 3-Week Win Streak

Fri, 27 Jan 2012 19:06:55 EST

Blue-chip stocks finished in the red, pushing the Dow to its first losing week this year, after a reading on domestic economic growth fell short of expectations.

Investors Abandon Copper, Cotton, Crude

Fri, 27 Jan 2012 12:15:12 EST

Amid plunging prices and soaring volatility, investors and traders reduced bets on 13 key commodity contracts by 19% in 2011.

Delta Weighs a US Air Deal

Sat, 28 Jan 2012 04:37:08 EST

Delta Air Lines is studying US Airways as a possible acquisition target as U.S. carriers prepare for a new round of consolidation.

St. Joe Pares Back Florida Vision

Sat, 28 Jan 2012 00:30:57 EST

St. Joe signaled that it is again scaling back its development plans in Florida, an indication that efforts to turn the state's Northern Gulf Coast into a cluster of luxury second-home communities have been a flop.

Spanair Shutdown Sparks Disruptions

Sat, 28 Jan 2012 10:59:42 EST

The Spanish airline canceled all of its flights Friday night and prepared to file for bankruptcy protection.

Home-Aid Program Expanded

Fri, 27 Jan 2012 19:26:26 EST

The Obama administration said it would give troubled homeowners another year to enroll in its signature mortgage-assistance program and increase payments to banks.

Bidders for Los Angeles Dodgers Narrowed

Fri, 27 Jan 2012 22:34:50 EST

The Los Angeles Dodgers said its advisers have approved about 10 groups of bidders who will be asked to move on to a second round of offers for the team.

Twitter's Censors Provoke Backlash

Fri, 27 Jan 2012 19:06:03 EST

After years of touting itself as a champion of free expression, Twitter touched off a torrent of criticism after it announced it can remove messages from the online service within specific countries if asked to do so.

News Corp. in Talks to Hire Bloomberg Executive

Fri, 27 Jan 2012 21:20:51 EST

News Corp. is in serious talks to hire former Bloomberg chief executive Lex Fenwick to be the new chief of Wall Street Journal publisher Dow Jones.

Viacom Paid CEO $43 Million Last Year

Fri, 27 Jan 2012 19:25:02 EST

Viacom's three top executives received $46 million dollars in cash bonuses in the company's 2011 fiscal year.

Chrysler to Add 1,600 Workers in Illinois

Fri, 27 Jan 2012 17:20:05 EST

Chrysler is expected to disclose it will hire more than 1,600 workers at an Illinois auto-assembly plant, the first of a hiring wave that will add thousands of new production employees over the next three years.

Ford Motor Profit Lifted by U.S. Sales, Tax Gain

Sat, 28 Jan 2012 03:49:46 EST

Ford reported a record fourth-quarter profit on a one-time tax allowance, though slower sales in Europe, growing pains in Asia and heightened competition at home signaled greater turbulence ahead.

Chevron's Profit Edges Lower

Fri, 27 Jan 2012 16:43:02 EST

Chevron posted a 3.2% drop in profit, as a loss at its refining-and-marketing business offset higher oil prices.

P&G's Profit Drops 49%

Fri, 27 Jan 2012 19:19:29 EST

Procter & Gamble posted a sharply lower profit for its fiscal second-quarter reflecting higher commodity costs and a hefty write-down for past acquisitions, including its $57 billion megadeal for Gillette.

FDA Finds Fungicide in Orange Juice

Fri, 27 Jan 2012 21:29:08 EST

Five samples of orange juice from Brazil and six samples from Canada tested positive for the fungicide, the FDA said. Orange-juice futures settled 2.1% higher.

FBI Search Offices of 'Reverse Merger' Player

Fri, 27 Jan 2012 12:21:02 EST

FBI agents searched the New York offices of private-equity investment and corporate-advisory firm New York Global Group, which has played a role in Chinese companies that list in the U.S. through reverse mergers.

More Fined in Greenlight Case

Sat, 28 Jan 2012 04:43:34 EST

The FSA fined a former compliance officer at Greenlight Capital £130,000 for insufficient oversight in the sale of Punch Taverns shares ahead of a planned equity raising. A J.P. Morgan Cazenove employee was also fined.

Cattle Herd Shrinks to Smallest in 60 Years

Fri, 27 Jan 2012 20:41:19 EST

A drought in the southern Plains has forced ranchers to cull hundreds of thousands of cattle, resulting in higher beef prices.

Mets Owners Seek Dismissal of Madoff Lawsuit

Fri, 27 Jan 2012 09:06:38 EST

The owners of the New York Mets baseball team asked a federal judge to dismiss a lawsuit by the court-appointed trustee seeking to recover money for victims of convicted Ponzi-scheme-operator Bernard Madoff.

Eastman Chemical to Buy Solutia

Fri, 27 Jan 2012 19:22:31 EST

Eastman Chemical said Friday it has agreed to buy specialty-chemical maker Solutia Inc. for about $3.4 billion in a move that executives see paying off as auto, construction and consumer-electronics markets recover.

Legg Mason Profit Drops 54%

Fri, 27 Jan 2012 08:35:31 EST

Legg Mason's fiscal third-quarter earnings fell 54% as the money manager saw a drop in advisory fees.

Altria Earnings Drop 9%

Fri, 27 Jan 2012 09:04:25 EST

Altria's fourth-quarter earnings fell 9% as charges offset revenue growth, while the tobacco company named Vice Chairman Martin J. Barrington chairman and chief executive to succeed the retiring Michael E. Szymanczyk.

Murdoch to Quit Glaxo Board

Fri, 27 Jan 2012 12:49:55 EST

As he grapples with the fallout from News Corp.'s phone-hacking scandal, deputy chief operating officer James Murdoch is resigning from the board of drug giant GlaxoSmithKline.