New York State lawmakers passed a major pension reform deal following an arduous session that lasted through Wednesday night, according to the NYPost. The pension deal had already been approved by the State Senate and needed only to be passed by the Assembly before the new legislation was authorized.
China's foreign direct investment in February fell for the fourth straight month as companies tightened spending amid a slowdown in the world's second-largets economy and the ongoign European sovereign debt crisis.
The retirement letter from Goldman Sachs Executive Director Greg Smith, which was published as an op-ed in the New York Times on Tuesday, has been the talk of the town and likely reason the company lost market value on Wednesday.
Whenever any event occurs, it seems like the Japanese create a short animated, albeit ridiculous, video about the subject. And of course, they even found a way to animate Greg Smith's op-ed about Goldman Sachs.
Why did Greg Smith's resignation letter go viral on the Internet?
Bank of Communications Co., Ltd. (BoCom) will raise $8.9 billion in a share sale to current shareholders like HSBC and the Chinese Ministry of Finance. The bank's shares were suspended on Thursday in advance of the announcement.
The Indian Budget, which will be tabled in the Parliament Friday, is expected to incorporate same features as the previous budget, as the country faces challenging economic conditions and uncertain political scenario.
Shares of Apple hit $600 for the first time, boosting the computer and electronics developer’s market capitalization above $560 billion.
Claims for jobless benefits fell back to a four-year low of 351,000, providing more evidence that the labor market is healing.
The top aftermarket NYSE gainers Wednesday were: Callon Petroleum, Newcastle Investment, Covanta Holding, Rite Aid Corp, Office Depot and Basic Energy Services. The top aftermarket NYSE losers were: Guess?, YPF SA, SandRidge Permian Trust, Monster Worldwide, WMS Industries and Primus Telecommunications Group.
The shares of Goldman Sachs dropped 3.4 percent in New York trading Wednesday, wiping $2.15 billion off its market value following allegations made by a former company executive that the firm took little interest in the clients and was also involved in exploiting them.
Fitch Ratings revised down its outlook on Britain's AAA rating to negative Wednesday, warning the nation could lose its top-notch status in the next couple of years if the government eases back on its debt cutting stance.
Greg Smith did not choose the subtle approach for his exit from Goldman Sachs, where he had worked for 12 years. Instead, Greg Smith decided to post his resignation letter in The New York Times for the entire world to read. The resignation letter, entitled "Why I am Leaving Goldman Sachs," included scathing commentary on the "toxic" environment at the bank, its lack of "moral fiber" and the "muppets" who work there.
Newmont Mining Corp. is reevaluating the cost of its delayed Conga gold and copper project in Peru, the company's senior vice president in South America said on Wednesday.
Shares of Citigroup (NYSE: C) fell more than 4 percent Wednesday after the Federal Reserve said the No. 3 U.S. bank flunked a “stress test” of its financial viability.
Shares of Apple (Nasdaq: AAPL) kept surging Wednesday even after the company was subpoenaed by Washington after two more analysts raised price targets.
Greg Smith, a.k.a. the modern-day Jerry Maguire, quit his job on Wednesday. This wouldn't be news if Smith weren't an executive director for Goldman Sachs, and nobody would have batted an eyelash if didn't publicly blast his company in a New York Times op-ed. But he was. And he did.
Although fans are anticipating the new Apple iPad that hits stores tomorrow, the electronics company may have another surprise to unveil in the near future. An unnamed Samsung official said that Apple will be obtaining parts from the Korean company for various devices in 2012, according to The Korea Times.
The companies whose shares are moving in pre-market trade on Wednesday are: Francesca's Holdings Corp, Zions Bancorporation, Regions Financial Co, RADVision Ltd, Clearwire Corp, LSI Corp, SunTrust Banks, Citigroup, American Capital Mortgage Investment Corp and Fifth Third Bancorp.
U.S. imports grew more than exports in the fourth quarter of last year, increasing the nation's foreign trade deficit for the period to $124.1 billion, a 15 percent jump and far more than expected, the Commerce Department said Wednesday.
Facebook filed for an IPO on Feb. 1 but has since amended its registration document twice. Here are four important things to know about the world's biggest social media company.
The top after-market NASDAQ losers Tuesday were: Pacific Sunwear of California, Zhongpin, Knightsbridge Tankers, American Superconductor, Healthways, Fortinet, Entropic Communications, Medallion Financial Corp, Great Wolf Resorts and Silicon Motion Technology Corp.
