- 3 Reports To Shed Light On US Housing Sector
September 18 2012 6:12 AM
Three key U.S. housing reports Wednesday are expected to show small improvements in the market.
- South Africa Mining Strikes Spread
September 11 2012 11:39 AM
The world's second-largest platinum producer said striking South African miners are demanding another 8 to 10 percent pay hike like the one they received in April that ended a six-week strike.
- R. Kelly Tax Woes Continue: Chicago Crooner Owes Over $6M To IRS
September 11 2012 11:27 AM
R. Kelly's tax woes are continuing, with the Chicago crooner now owing Uncle Sam more than $6 million.
- Costco's Shares Touch Record High After Founder Lauds Obama
September 06 2012 3:40 PM
Costco Wholesale Corporation (NASDAQ: COST) stock price touched an all-time high on Thursday, a day after co-founder and former CEO James Sinegal addressed the Democratic National Convention.
- Thursday Meeting Preview: ECB's Draghi To Push Paradox Of Monetization On Reluctant Germans
September 05 2012 6:34 AM
Late Monday, word leaked out that Draghi is now saying the ECB should pursue a policy of monetizing sovereign debt of periphery countries -- that is, printing reams of new euro to buy bonds issued by those governments -- even though such a policy path exceeds the central bank's mandate and has been adamantly opposed by the German political establishment.
- Two Years Later, Dodd-Frank Is Only Half Finished
August 28 2012 6:18 AM
The Dodd-Frank Act was passed in 2010 to rein in the Wall Street excesses that led to the financial crisis, but the massive law is only around half complete, according to the Financial Services Committee's Dodd-Frank Burden Tracker.
- Corporate Debt Issuance In August Sets Record, Analysts Warn Of Junk Bonds
August 27 2012 2:35 PM
This month has been the busiest August on record for global corporate bond issuance as low-risk free yields on government bonds pushed investors to find better returns in corporate credit.
- How Much Will Libor Suits Cost Banks?
August 27 2012 11:28 AM
Banks involved in London interbank offered rate benchmark, or Libor, manipulations could be liable for billions of dollars in lawsuits from a slew of financial firms and investors who were affected by the distortions, according to reports.
- Facebook IPO: ‘Social Media’ Becomes Anti-Social For Investors
August 22 2012 3:14 PM
The good news for investors in Facebook (Nasdaq: FB), the No. 1 social networking site, is that the shares didn’t set a new, post-initial public offering low on Wednesday. But they have come close, trading as low as $18.96 before recovering to $19.40, up 24 cents in late trading.
- Bank Of America Exits Debt-Protection Products Amidst Industry Scrutiny
August 22 2012 9:20 AM
Bank of America Corp. (BAC) discontinued credit protection services to customers as it came under scanner for allegations of customer enrollments through improper practices and charging customers without consent. A class action suit is reportedly pending against BAC on the issue.
- Facebook Plunges To Latest Record Low After Lockup Ends
August 17 2012 12:21 PM
Shares of Facebook (Nasdaq: FB), the No. 1 social networking site, fell to a new record low of $19.01 in midday Friday trading, a day after insiders were allowed to sell as many as 241 million shares they had been required to hold since the May 17 initial public offering.
- Gold's Value Up For Europeans As Exchange Deems Bullion Collateral
August 17 2012 10:59 AM
European investors looking to bet on risky derivatives will be able to use gold to back their trades, one of the Continent's major exchanges said Friday, a development that could both make the yellow precious metal a more valuable asset and foster the growth of derivative trading volume.
- U.S. Widens Libor Rate Fixing Probe, Seven Banks Subpoenaed
August 16 2012 8:46 AM
Deutsche Bank, Barclays, JPMorgan Chase, RBS, HSBC, UBS and Citigroup have all received subpoenas, related to the joint New York-Connecticut investigation of possible manipulation of the London Interbank Offered Rate (Libor)
- JPMorgan’s 'London Whale' Trading Blunder Didn’t Scare Away All Money Managers
August 15 2012 3:50 PM
JPMorgan Chase & Co. (NYSE: JPM)'s multibillion-dollar "London Whale" trading mess sent some well-known money managers running for the exit, but new regulatory filings show that several big hedge-fund players loaded up on JPMorgan as they saw the stock's 22 percent drop in the second quarter as a buying opportunity.
- Facebook Fraud Trial? Not Until Year-end At Earliest, Experts Say
August 15 2012 3:48 PM
Any trial in U.S. District Court of the more than 50 shareholder lawsuits alleging fraud by Facebook (Nasdaq: FB), the No. 1 social networking site, and its underwriters could be as much as five months away, lawyers said.
- Bank Of America Sells Merrill Unit To Julius Baer - A List Of Assets Sold Since 2011
August 13 2012 11:09 AM
Bank of America Corp. (NYSE: BAC), the lender divesting assets to raise capital, said Monday it has agreed to sell Merrill Lynch's International Wealth Management business outside the U.S. to Swiss private bank Julius Baer Group Ltd.
- Samsung Galaxy S3 Releases With Battery Issues: How To Fix The Drain Problems And Find Out If Your Device Is Affected
August 12 2012 11:32 PM
Samsung's Galaxy S3 has become one of the leading smartphones on the market, hitting the 10 million-unit sales mark in less than two months after its launch. Although the device has been dubbed as the Korea-based company's flagship smartphone of 2012, it does come with its share of issues.
- BlackBerry Investor Backs IBM Bid; Values RIM Assets At $9.6B
August 10 2012 9:10 AM
BlackBerry investor Victor Alboini said he welcomed a bid for Research in Motion's enterprise business by IBM, saying it would greatly enhance value of an undervalued asset.
- IBM Eyeballing Bid for BlackBerry Developer RIM: Report
August 10 2012 8:46 AM
BlackBerry developer Research in Motion (Nasdaq: RIMM) has been approached by International Business Machines Corp. (NYSE: IBM) about a possible sale of its enterprise services unit, Bloomberg News reported, citing two insiders.
- US Regulators Tell Big Banks To Develop Collapse-Prevention Plan: Reuters Exclusive
August 10 2012 8:41 AM
U.S. regulators directed five of the country's biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help.