Money's Winners And Losers: Automakers, Best Buy, AMR, Changi Airport, Nokia, General Motors
September 07 2012 8:39 PM EDT
Each week, the IBTimes Money team picks the six biggest, most dramatic, or most compelling winners and losers in business. For the week of Sept. 3-7, the former include global automakers such as the Honda Motor Co. (NYSE: HMC), and the latter include the Nokia Corp. (NYSE: NOK).
Paul Volcker, Regulation Icon, Freed Fannie Mae From Oversight
September 07 2012 6:21 PM EDT
Paul Volcker, the former Federal Reserve chairman and a great proponent of new bank regulations, was a key enabler in the rise and eventual collapse of Fannie Mae, the government-sponsored enterprise focused on mortgage financing, according to a new book.
Are BitTorrent And UTorrent Apps Now Allowed On Apple's App Store?
September 07 2012 6:12 PM EDT
Has Apple finally begun to lift its ban on BitTorrent apps? Since Apple first founded the App store, the tech giant has had a standing ban on any apps related to the torrent client. On Friday, however, two new BitTorrent-related apps appeared in the App Store, possibly a sign that Apple is relaxing their restrictions on torrent-related content.
Electric Cars Drive Demand For Lithium; FMC, Rio Tinto, Rockwood Stand To Gain
September 07 2012 4:55 PM EDT
Growing global demand for electric cars could drive demand for lithium up by as much as 20 percent per year, benefiting chemical and mining companies such as the FMC Corp. (NYSE: FMC), Rio Tinto PLC (NYSE: RIO) and Rockwood Holdings Inc. (NYSE: ROC), according to Standard & Poor's Capital IQ.
Sony Faces Piracy Concerns Following PS Vita, Mobile Hacks
September 07 2012 2:21 PM EDT
Following reports earlier this week of Apple allowing hackers into its iCloud service, Sony Corportation is facing similar concerns over the security of its data across everything from its mobile-phone business to its new mobile gaming console, the Playstation Vita. In addition to piracy concerns, the new hacks highlight the relative weakness of the PS Vita's performance so far in the gaming market.
Pandora Media Shares Plunge 21% On Rumored Apple Rivalry
September 07 2012 2:02 PM EDT
Shares of online radio broadcaster Pandora Media Inc. (NYSE: P) plunged nearly 21 percent on reports that Apple (Nasdaq: AAPL), the world's most valuable technology company, would launch a competitive service as early as next quarter.
Qantas Move To Dubai Will Lower Costs, Help Stop Losses On Int'l Routes: Analysts
September 07 2012 1:05 PM EDT
Dubai International is rapidly becoming a major international connection. For ailing Qantas Airways Limited (ASX: QAN) the move of its European hub from Singapore to the UAE will help lower the cost of shuttling travelers back and forth between Melbourne or Sydney and London.
Coke, GE Step In As Ex-Pariah Myanmar Opens To Foreign Investment
September 07 2012 12:45 PM EDT
After breaking from decades of military rule, Myanmar's parliament ratified legislation promoting foreign investment on Friday, opening the southeast Asian country to investment from companies like MasterCard Inc. (NYSE: MA), the Coca-Cola Company (NYSE:KO) and General Electric Co. (NYSE: GE).
Want To Hail A New York Taxi With Uber? Not Until February, City Says
September 07 2012 12:28 PM EDT
Uber Technologies, the private developer of a smartphone app that matches cabdrivers with passengers, drove over a gigantic pothole when it tried to launch in New York City this week: the venerable Taxi and Limousine Commission.
Apple iPhone 5 Rumors: Alleged Sept. 21 Release Date Coincides With FedEx 'Surge'
September 07 2012 11:02 AM EDT
Apple is all set to unveil its next-generation smartphone next Wednesday, but when can we expect to see the iPhone 5 on store shelves? Reports for the last several months have pegged Friday, Sept. 21 as the new iPhone's alleged release date, and a new report released Friday gives more credence to the rumors.
Apple Shares Set Record Highs Ahead Of iPhone Intro
September 07 2012 10:47 AM EDT
Shares of Apple (Nasdaq: AAPL), the world's most valuable technology company, set new record highs Friday ahead of next Wednesday’s announcement of a new member of the iPhone family, perhaps the iPhone 5.
Google Shares Hit $700 For 5-Year High [HOLD for David Z…don’t move]
September 07 2012 9:50 AM EDT
Shares of Google (Nasdaq: GOOG), the No. 1 search engine and maker of Motorola phones, set an all-time record high of $700, slightly more than eight years after the Mountain View, Calif.’s initial public offering that raised $1.67 billion.
Intel Warns Chip Sales Slid; Chops Revenue Estimate To $13.2B
September 07 2012 9:43 AM EDT
Intel (Nasdaq: INTC), the No. 1 chipmaker, warned third-quarter sales would be far below prior estimates, chopping as much as $600 million from predictions.
Commodity Trader Glencore Raises Offer For Mining Giant Xstrata
September 07 2012 7:44 AM EDT
Global commodity trader Glencore International PLC, which was within hours of seeing its proposed $80 billion purchase of mining giant Xstrata PLC rejected by shareholders, has raised the amount it is willing to pay, according to a report Friday.
European Markets Continue Upward Rally On ECB Move, German Export
September 07 2012 5:26 AM EDT
The European markets continued the upward rally Friday, a day after the European Central Bank (ECB) announced the widely anticipated bond-buying program aimed at lowering the struggling euro zone countries' borrowing costs.
Apple Vs Samsung Lawsuit: Apple Partners New Firm For iPhone Chips Supply
September 07 2012 4:21 AM EDT
Apple has placed some memory-chip orders for its upcoming iPhone with Asian chip makers and has moved away from Samsung for this component, sources told The Wall Street Journal.
AAPL: Apple Scrip Continues To Surge As New Amazon Tablet Makes Debut; iPad Mini, Ecosystem To Provide Apple With Convincing Lead
September 07 2012 4:01 AM EDT
As Amazon (AMZN) launched its much-awaited Kindle Fire Thursday attracting rave reviews, its top competitor Apple (AAPL) posted gains in the street ending the day at $676.27, gaining $6.04, almost 1 percent higher than the previous close.
Top After-Market Nasdaq Movers (Smith & Wesson, Ulta Salon, Vical, Bazaarvoice, MAP, Audience, Mattress Firm, Accuray, Envivio, Aceto)
September 07 2012 2:22 AM EDT
The top after-market Nasdaq gainers Thursday were Smith & Wesson Holding Corp, Ulta Salon, Cosmetics & Fragrance Inc, Vical Inc, Bazaarvoice and MAP Pharmaceuticals. The top after-market Nasdaq losers were Audience Inc, Mattress Firm Holding Corp, Accuray Inc, Envivio Inc and Aceto Corp.
Air India Receives First Boeing 787 Dreamliner
September 07 2012 1:43 AM EDT
Air India took delivery of its first Boeing 787 commercial widebody airplane on Thursday at Boeing Co's final assembly plant after a months-long dispute between airline and manufacturer over compensation for a four-year production delay.
South African Labor Unrest Threatens Platinum And Gold Production
September 06 2012 7:51 PM EDT
In the wake of a strike that left 34 platinum miners dead after clashes with police, South African unions continued to refuse to work, disrupting production of the metal in the country that accounts for 75 percent of global exports and spilling over to impact gold miners.