Entries in Wall Street Journal (6)


Wall Street Report: Stocks Drop Amid Eurozone News; Gold Still Rising

Comstock Images/Thinkstock(NEW YORK) -- The proposed plans to boost eurozone economic growth came as a letdown to investors Tuesday, causing stocks to fall after three consecutive sessions of gains.

At Tuesday's close, the Dow had lost 77 points, the Nasdaq dropped 32 and S&P gave up 12.

Gold prices, however, continue to move up.  Adding $30 more, prices for the metal are close to $1,800 per ounce.

Copyright 2011 ABC News Radio


'Wall Street Journal' Publisher, Les Hinton, Resigns

Gary Gershoff/WireImage(NEW YORK) -- Dow Jones CEO Les Hinton resigned Friday, making him the second high-ranking casualty in less than 24 hours in a journalistic scandal that has jeopardized Rupert Murdoch's multibillion-dollar empire.

Earlier Friday, Rebekah Brooks, one of Murdoch's closest confidants and chief executive of his British newspapers, resigned her post. She was editor of News of the World when the incidents of phone hacking and bribery allegedly occurred.

In Hinton's resignation letter, obtained by the website All Things D, Hinton maintained he was unaware of the inappropriate action that occurred when he was chairman of News International.

"I have watched with sorrow from New York as the News of the World story has unfolded," he wrote. "I have seen hundreds of news reports of both actual and alleged misconduct during the time I was executive chairman of News International and responsible for the company."

"The pain caused to innocent people is unimaginable," he added. "That I was ignorant of what apparently happened is irrelevant and in the circumstances I feel it is proper for me to resign from News Corp., and apologize to those hurt by the actions of the News of the World."

In a statement of his own, Murdoch wrote, "That this passage has come to an unexpected end, professionally, not personally, is a matter of much sadness to me."

Hinton and Murdoch have worked together for more than 50 years.

Copyright 2011 ABC News Radio


Expect to Pay More For ATM Fees

Stockbyte/Thinkstock(NEW YORK) -- Watch out for higher ATM fees -- you may have to pay more to pull money out of a cash machine.

Most of the new fees will be for consumers who go outside their own bank networks to withdraw cash. The Wall Street Journal says JP Morgan Chase is testing a five dollar fee for non-customers.

The move is the latest example of extra charges imposed by banks as the industry looks to replace billions of dollars of revenue it is expected to lose when new federal rules on overdraft charges and debit cards take effect.

Copyright 2011 ABC News Radio


Report: Twitter Worth Close to $10 Billion

Photo Courtesy - Nicholas Kamm/AFP/ Getty Images(NEW YORK) -- Twitter, the online messaging network, estimates its revenue will reach a reported $100 million this year, but its value is estimated to be 100 times that amount, according to The Wall Street Journal.

Citing people familiar with the matter, the Journal reported Thursday Twitter is believed to be worth between $8 billion and $10 billion.

Meanwhile, the messaging service, which had a revenue of $45 million in 2010, estimates its revenue will more than double this year to $100 million to $110 million.

Copyright 2011 ABC News Radio


Report: Apple Starts Production on New iPad

Photo Courtesy - ABC News(NEW YORK) -- Apple has begun manufacturing a new version of the iPad that will be sleeker and faster than its predecessor, according to The Wall Street Journal.

The Journal, citing sources, reports the second generation tablet will be thinner and lighter than the first model, and will feature a camera on the front of the device for video-conferencing.  The new iPad will also have a faster processor and more memory.

The tablet is expected to debut in the next couple of months, and will initially only be available through Verizon and AT&T in the U.S.

Copyright 2011 ABC News Radio


Applications for Jobless Benefits Rise

Photo Courtesy - Getty Images(WASHINGTON) -- The number of Americans applying for jobless benefits jumped significantly, for the second time in four weeks. The number stands at 457,000 initial unemployment claims for last week, which is a 20,000 increase from 437,000. 

The Wall Street Journal's Simon Constable tells ABC News that, "It just shows that there is a lot of turbulence out there and if you've got a job you've got to keep a hold of it and if you haven't got one, it's very hard to get a new one."  These numbers are evidence that companies are still hesitant to expand their staffing.

Copyright 2010 ABC News Radio

ABC News Radio