(Matthew O’Brien, The Atlantic) We’re going to need a bigger acronym. In the beginning, it was just the “Greek debt crisis”. Then markets realized Portugal, Ireland, Italy, and Spain were in bad shape too, and the PIIGS (or GIIPS) were born. But now Cyprus and Slovenia have run into trouble as well, giving us […]
April 5, 2013
Hiring in U.S. Tapers Off as Economy Fails to Gain Speed (NY Times)
Catherine Rampell, NY Times The nation’s employers increased their payrolls by 88,000 last month, compared with 268,000 in February,according to a Labor Department report released Friday. It was the slowest pace of growth since last June and less than half of what economists expected. It was also the third consecutive spring in which employers tapered off […]
December 20, 2012
IntercontinentalExchange to Acquire NYSE for $8.2 Billion (Bloomberg)
(Nina Mehta & Nandini Sukumar, Bloomberg) Dec. 20 (Bloomberg) — IntercontinentalExchange Inc., the 12-year-old energy and commodity futures bourse, agreed to acquire NYSE Euronext (NYX) for cash and stock worth $8.2 billion, moving to take control of the world’s biggest equities market. IntercontinentalExchange, based in Atlanta, will pay $33.12 a share for the owner of […]
December 20, 2012
Apple Users Flock to iOS 6 After Google Maps Launch (Mashable)
(Samantha Murphy, Mashable) In line with what was expected, new data has revealed that many iPhone users finally upgraded to iOS 6 when Google Maps finally launched its app week. In fact, according to mobile ad company MoPub and first reported by TechCrunch, iOS 6 adoption grew 29% in the first 5 days after the […]
December 20, 2012
UBS E-Mails Show How Traders Manipulated the System (NYTimes)
(JULIA WERDIGIER, NYTimes) LONDON – For some traders, trying to manipulate a benchmark global interest rate was somehow heroic. “Be a hero today,” a trader at UBS asked (in all caps) a broker at another firm in 2009 when the two discussed a specific interbank lending rate in an e-mail. But the financial regulators found […]
December 19, 2012
Treasury to Sell G.M. Stake Within 15 Months (NYTimes)
(MICHAEL J. DE LA MERCED, NYTimes) The Treasury Department said on Wednesday that it planned to sell off its entire 32 percent stake in General Motors within 15 months, eliminating another reminder of the bailouts precipitated by the financial crash of 2008. The news comes a week after the Obama administration completely sold off its […]
December 19, 2012
U.S. Stocks Fall on Housing Data, Budget Negotiations (Bloomberg)
(Nikolaj Gammeltoft, Bloomberg) U.S. stocks fell, pulling the Standard & Poor’s 500 Index down from a two-month high, as the White House’s threat to veto a Republican budget plan fueled concern that negotiations were deteriorating. Alcoa Inc. (AA) fell 3 percent as Moody’s Investors Service placed the aluminum producer under review for a credit downgrade. […]
December 19, 2012
UBS fined $1.5 billion in growing Libor scandal (Reuters)
(Katharina Bart and Tom Miles, Reuters) (Reuters) – Swiss bank UBS accepted a $1.5 billion fine on Wednesday after admitting fraud and bribery in a deepening scandal over the rigging of global benchmark interest rates. Dozens of UBS staff manipulated the Libor rate, which is used to price trillions of dollars worth of loans, across […]
December 18, 2012
Boehner Invokes ‘Plan B’, Dismissing Obama’s Fiscal Offer (NYTimes)
(JONATHAN WEISMAN, NYTimes) WASHINGTON — Speaker John A. Boehner, pivoting to hardball tactics just days before a deadline in the fiscal impasse, promised to bring a bill to the House floor this week that would raise tax rates only on income over $1 million and leave in place across-the-board spending cuts to military and domestic […]
December 18, 2012
Will Google Escape a Federal Antitrust Lawsuit Over Web Search? (Time)
(Sam Gustin, Time) The end is near! No, we’re not talking about the Mayan apocalypse, but rather the federal government’s nearly two-year antitrust investigation of Internet search giant Google. The Federal Trade Commission and the Web titan are nearing a deal that would end the government’s probe into allegations that Google has used its search […]
- Why the Euro Is Doomed in 4 Steps (The Atlantic)
- Hiring in U.S. Tapers Off as Economy Fails to Gain Speed (NY Times)
- IntercontinentalExchange to Acquire NYSE for $8.2 Billion (Bloomberg)
- Apple Users Flock to iOS 6 After Google Maps Launch (Mashable)
- UBS E-Mails Show How Traders Manipulated the System (NYTimes)
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Barclays Sees Surprise Rally After Chairman Resigns Over Libor Scandal (Forbes)
- Apple’s iPhone Sales Numbers Disappoint Investors (Mashable)
- iPhone 5 Shipping Date Slips, Apple Seen Swamped (CNBC)
- Google Unveils New Ultra-Slim Samsung Chromebook for $249 (Mashable)
- BLOOMBERG: Mary Schapiro Has Failed (Business Insider)
April 5, 2013
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