Showing Archived Posts

New York Stock Exchange, Icon of US Capitalism, Is Sold to Upstart

Posted December 20th, 2012 at 3:15 pm (UTC-5)
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An upstart competitor is buying the venerable New York Stock Exchange, long the symbol of robust American capitalism. The owner of the 220-year-old New York exchange, NYSE Euronext, said Thursday it has agreed to an $8.2 billion deal to sell the iconic Wall Street fixture to IntercontinentalExchange. The 12-year-old Atlanta-based bourse focuses on trading future […]

Tags: , , , , Posted in Economy

US to Wind Down Its General Motors Stake

Posted December 19th, 2012 at 10:05 am (UTC-5)
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The U.S. is winding down its stake in the country’s biggest auto maker, General Motors. GM said Wednesday it would pay $5.5 billion for 200 million shares of stock held by the government, with the United States likely to sell its remaining 300 million shares over the next 12 to 15 months. The U.S. rescued […]

Tags: , , , , Posted in Economy

US Turning Big Profit on Controversial AIG Rescue

Posted December 11th, 2012 at 10:55 am (UTC-5)
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The U.S. is ending up with a sizeable profit on its controversial bailout of one of the world’s largest insurers during the worst days of the global economic downturn. The Treasury Department said it is selling 234 million shares in American International Group (AIG) on Tuesday at a profit of $7.6 billion, bringing its overall […]

Tags: , , , Posted in Economy

Three Months After Debut, Facebook’s Value Cut Nearly in Half

Posted August 17th, 2012 at 12:05 pm (UTC-5)
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The popular Internet social networking site Facebook has lost nearly half its stock value, just three months after its widely heralded debut as a publicly traded firm. Shares of the U.S.-based company were first offered to investors in May at $38, making the company worth about $100 billion, and its first-day share price reached $45. […]

Tags: , Posted in Economy

US Stock Exchange Apologizes for Facebook Stock Snafu

Posted June 7th, 2012 at 1:40 pm (UTC-5)
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A major U.S. stock exchange is apologizing and offering $40 million in damages for the technology problem that marred the start of stock trading last month in Facebook, the popular Internet social-networking site. The Nasdaq exchange in New York was initially overwhelmed by the large volume of investors wanting to buy and sell the Facebook […]

Tags: , , Posted in Economy

NASDAQ Chief Apologizes, Offers Compensation for Facebook Stock Glitches

Posted June 6th, 2012 at 6:40 pm (UTC-5)
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The chief of the NASDAQ stock exchange says he is embarrassed and apologizes for the technical problems that led to investor losses on the opening day of trading of Facebook shares. Robert Greifeld told CNBC television on Wednesday that the problems were a low point for NASDAQ. He said he is focused on the future […]

Tags: , , Posted in Economy

Facebook Stock Falls Below $30 a Share

Posted May 29th, 2012 at 5:40 pm (UTC-5)
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Shares in the social networking site Facebook fell to less than $30 Tuesday. The price of Facebook dropped $3.07, almost 10 percent, to close at $28.84. Facebook shares are 24 percent lower since their highly publicized IPO on May 18th of $38. Financial experts say Facebook stock has been hurt by an oversupply of shares, […]

Tags: , Posted in US

Congress Looking Into Facebook IPO

Posted May 23rd, 2012 at 7:05 pm (UTC-5)
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U.S. lawmakers are looking into issues with Facebook’s initial public offering, amid allegations that information about the company’s ability to make money was withheld from some investors. The Senate Banking Committee says its staff will meet with Facebook officials, regulators and other stakeholders. A spokeswoman for the House Financial Services Committee says staff members are […]

Tags: , , , Posted in Economy

US Regulators Looking at the Leadup to Facebook Stock Opening

Posted May 23rd, 2012 at 11:15 am (UTC-5)
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Days after social media giant Facebook started publicly selling its stock, financial regulators in the U.S. are taking a closer look at whether key information about the company’s financial prospects was provided to large investors in advance of the sale, but withheld from others. In the days leading up to the start of trading in […]

Tags: , Posted in Economy

Regulators to Look Into Facebook IPO as Share Price Drops

Posted May 22nd, 2012 at 8:15 pm (UTC-5)
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Massachusetts’ state secretary — the state’s top securities regulator — has subpoenaed investment firm Morgan Stanley over allegations it may have withheld information about the future revenue of Facebook. Shares in the world’s most popular social network were sold in an initial public offering Friday at $38 each. The price of Facebook stock has since […]

Tags: , Posted in US

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