It's up to the consumer to drive the U.S. economy and lift world growth in 2012, and the outlook is far from encouraging.
Google+, Google’s challenge to Facebook, is adding 625,000 daily users and already may have as many as 62 million signed up, unofficial statistician Paul Allen claimed.
President Barack Obama will nominate Harvard economist Jeremy Stein and Jerome Powell, an investment banker and former Treasury official, to the two empty seats on the Federal Reserve's policy-setting board of governors.
Morgan Stanley (MS) will axe 580 jobs in various sites in New York City due to economic reasons. The rolling layoffs began on Dec. 15 and the company has not identified a closing date, company filings with the New York Department of Labor showed Tuesday.
Goldman Sachs recovered quickly Thursday from a rumor that the company's corporate debt was being downgraded by Standard and Poor's, extending the day-long rally the firm's stock had been experiencing prior to the non-event.
The top aftermarket NYSE losers Wednesday were: Country Style Cooking, Laredo Petroleum Holdings, United Parcel Service, Mueller Water Products, Pacific Drilling, Arch Coal, Office Depot, Ion Geophysical, Enersys and PulteGroup, Inc.
Institutional investors such as unions won the right to file private common-law suits against Wall Street firms for alleged securities-related fraud and negligence.
New York City's pension funds want three big Wall Street banks to impose tougher compensation-clawback rules for top executives.
U.S. stocks soared on Tuesday. The Dow Jones Industrial Average (DJIA) ended up 337 points, or 2.9 percent, to close at 12,103. The S&P 500 Index rose 36 points, or 3 percent, to 1,241, while the NASDAQ rose 80 points, or 3.2 percent, to 2,604.
NDS Group Holdings Ltd, which provides software services to pay television, filed with U.S. regulators to raise up to $100 million in an initial public offering of its common stock.
In a bombshell research note that is making the rounds of Wall Street this morning, Glenn Schorr, the financial services sector analyst for Nomura, cut his estimate for Goldman's fourth-quarter earnings to $1 per share, half of his previous $2 prediction. That's less than half of what the consensus expectations are. Other bank estimates were also taken down.
Asian equities and U.S. stock index futures fell, with South Korean shares tumbling as much as 5 percent, while the dollar gained on safe-haven appeal after news of the death of North Korea leader Kim Jong-il raised fears of regional instability.
Last week, investors could finally buy a share of Internet gaming site Zynga, which was priced Thursday at $10 a share in the company’s $1 billion initial public offering. What did they say about other IPOS as well as Facebook's for 2012?
The top after-market NASDAQ gainers are: SuperMedia, AsiaInfo-Linkage, Imperial Sugar, Electronic Arts, Endocyte, Twin Disc, Spectrum Pharmaceuticals, Complete Genomics, Central European Distribution and PMC - Sierra.
Shares of Zynga, the online gaming developer linked to Facebook, closed at $9.50 Friday, 50 cents below their initial public offering price Thursday as the company raised $1 billion in the biggest IPO since Google.
Michael Kors Holdings Ltd stood out in its market debut, keeping pace with star technology sector IPOs and showcasing the resilience of the luxury market even in a gloomy economy.
Morgan Stanley's announcement that it is slashing 1,600 jobs is only the latest in a late-year blizzard of pink slips being floated among people at the heart of American high-finance. Bonuses are also down sharply. Is the economy Grinch stealing Wall Street's Christmas?
Morgan Stanley (MS) announced plans to cut 1,600 job globally Thursday. Another axe fell on Wall Street.
Morgan Stanley has returned $700 million to investors after its main real estate fund performed weaker than expected, reported the Wall Street Journal.
Morgan Stanley (MS) is taking a step back to reach a mutually beneficial settlement with bond insurance firm MBIA. The investment bank announced Tuesday that it's willing to take a pre-tax loss of $1.8 billion in the current quarter to resolve outstanding legacy exposures.
Jive Software Inc priced its initial public offering at $12 per share, above its expected price range of between $8 and $10 per share, according to an underwriter.
The turbulent stock market may throw up obstacles in front of two initial public offerings on tap, including on-line game site Zynga as well as workplace social networking developer Jive Software.
