Topic: Financial Services Sector
Top galleries, list articles, quizzes
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National Spelling Bee: 10 winning business words
In the National Spelling Bee’s 85-year existence, a wide range of words have crowned the winners – from science words like ‘crustaceology,’ to musical terms such as ‘soubrette,’ and ‘appoggiatura.’ The list of winning words also includes several that could slide right into the pages of this newspaper’s business section. In honor of the 2012 Scripps National Spelling Bee, here are 10 business words from past years that have determined the champion. Will this year’s winning word make the list?
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Briefing
What would happen if Greece exited the eurozone?
Rumors are rife of a Greek exit from the eurozone. While no country has yet dropped the common currency, there are some indications of what will transpire if Greece does.
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Facebook IPO: Six key dates in its debacle
Facebook's first week as a publicly traded company will go down as a terribly botched corporate launch, perhaps one of the worst in recent history for such a highly visible entity. Eight days ago, it was the tech world's most highly anticipated initial public offering in eight years. Now, the social media company faces mounting legal woes and serves as an embarrassing example of how not to run an IPO. Despite rising insider pessimism about its growth prospects, Facebook kept boosting its asking price and the number of shares it would sell. The result: billions of dollars in losses; investigations by two congressional committees, the Securities and Exchange Commission (SEC), an industry watchdog, and the state of Massachusetts; at least 13 class-action lawsuits; and thousands of resentful shareholders who days later still were unsure how many Facebook shares they had or at what price. Here are six key dates in Facebook's unfolding IPO disaster.
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Where gas prices are highest
Gasoline is a very visible price, and closely watched by many drivers. Petroleum prices impact many products, from food to industrial production. While the cost of crude is the major factor in gasoline price volatility, some countries levy taxes on fossil fuels. Here are ten countries where high gas prices are the norm, according to British insurance firm Staveley Head.
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Facebook stock: 6 intriguing investors
Facebook stock will make many people suddenly wealthy when it begins trading this Friday. The company is expected to be valued somewhere around $100 billion, with stock expected to sell anywhere between $34 and $38 per share. Here are six of the more unexpected people set to make a killing with initial public offering of Facebook stock, including a rock star, a graffiti artist, and pair of Mark Zuckerberg’s enemies.
All Content
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Spain capital flight doubles as risk of European bailout rises (+video)
Capital flight from Spain has doubled to a new record and the country has demanded the European Central Bank recapitalize its teetering financial system, warning that the alternative is a broader bailout that could rock the European economy.
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National Spelling Bee: 10 winning business words
In the National Spelling Bee’s 85-year existence, a wide range of words have crowned the winners – from science words like ‘crustaceology,’ to musical terms such as ‘soubrette,’ and ‘appoggiatura.’ The list of winning words also includes several that could slide right into the pages of this newspaper’s business section. In honor of the 2012 Scripps National Spelling Bee, here are 10 business words from past years that have determined the champion. Will this year’s winning word make the list?
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EU calls for "banking union" to fight debt crisis
The European Commission proposed Wednesday that such a body should oversee banks directly, sidestepping national governments.
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With nomination in hand, Romney turns focus on Obama
His win in Texas on Tuesday put him over the top in the delegate count, and now the entire GOP establishment is focused on November.
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Briefing
What would happen if Greece exited the eurozone?
Rumors are rife of a Greek exit from the eurozone. While no country has yet dropped the common currency, there are some indications of what will transpire if Greece does.
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Paper Economy
Mortgage rates tumble to record lows. Again.
The average rate for a 30-year fixed rate mortgage declined 2 basis points to 3.81 percent since last week, the lowest value on on record for this MBA series, while the purchase application volume declined 0.6 percent, and the refinance application declined 1.5 percent over the same period.
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Facebook stock drops below $29 (+video)
Facebook stock falls 9.6 percent to close at $28.84. In its first seven days of trading, Facebook stock has lost nearly a quarter of its value.
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Despite oil prices, falling euro, Dow closes up slightly
Oil prices fell, the euro sank to a 22-month low, and the yield on the U.S. government's 10-year Treasury note fell near a historic low. But the Dow Jones industrial average edged up 125 points to close at 12580 as investors continue to hope for a Chinese growth spurt.
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Is Canada about to face US-style housing meltdown?
Skyrocketing home prices in Canada, particularly in cities like Toronto, are fueling concerns that Canadians are overspending as they assume – as the US did – that real estate prices can only go up.
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The Reformed Broker
SEC won't take action against Lehman Brothers
The SEC will likely not seek action against the Lehman for the events that led up to the firm's massive bankruptcy in 2008.
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Mortgage rates fall to new records
Mortgage rates for 30-year loan now stand at 3.78 percent. Fixed mortgage rates for 15-year loans are unchanged at 3.04 percent, a record low.
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Robert Reich
Obama and Cory Booker: Fairness is essential to growth
Fairness isn’t inconsistent with growth; it’s essential to it. The only way the economy can grow and create more jobs is if prosperity is more widely shared.
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Facebook IPO: Six key dates in its debacle
Facebook's first week as a publicly traded company will go down as a terribly botched corporate launch, perhaps one of the worst in recent history for such a highly visible entity. Eight days ago, it was the tech world's most highly anticipated initial public offering in eight years. Now, the social media company faces mounting legal woes and serves as an embarrassing example of how not to run an IPO. Despite rising insider pessimism about its growth prospects, Facebook kept boosting its asking price and the number of shares it would sell. The result: billions of dollars in losses; investigations by two congressional committees, the Securities and Exchange Commission (SEC), an industry watchdog, and the state of Massachusetts; at least 13 class-action lawsuits; and thousands of resentful shareholders who days later still were unsure how many Facebook shares they had or at what price. Here are six key dates in Facebook's unfolding IPO disaster.
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Paper Economy
Home prices increase
In March, home prices increased 1.78 percent since February, rising 2.69 percent above the level seen in March 2011.
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Robert Reich
Obama should attack what Bain and JPMorgan have in common
Rather than lobbing generalized attacks at Mitt Romney and American business, Obama should attack a particular kind of capitalism that Romney and JPMorgan both practice: using other peoples’ money to make big bets which, if they go wrong, can wreak havoc on the economy.
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Facebook struggles as lawsuits loom
The stock climbed a dollar on Wednesday, but it is still 16 percent below its IPO price last Friday.
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Where gas prices are highest
Gasoline is a very visible price, and closely watched by many drivers. Petroleum prices impact many products, from food to industrial production. While the cost of crude is the major factor in gasoline price volatility, some countries levy taxes on fossil fuels. Here are ten countries where high gas prices are the norm, according to British insurance firm Staveley Head.
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Decoder Wire
Has Cory Booker hurt his own political career? (+video)
Don't look for a prime time speaking slot at the Democratic National Convention for Cory Booker, but his defense of Wall Street – and criticism of the Obama campaign – won't hurt his standing with moderates or Wall Street donors.
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Paper Economy
Mortgage rates slide to record lows
Mortgage rates continue to drop well below 4 percent. The average rate for a 30 year fixed rate mortgage declined 2 basis points to 3.83 percent since last week, the lowest value on on record for this MBA series. The purchase application volume declined 3.0 percent and the refinance application increased 5.6 percent over the same period.
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Gordon Brown: Europe needs a global rescue
The G8 summit at Camp David failed to find a plan for economic growth in Europe and to deal with a euro crisis that goes beyond debt. It may seem strange to propose that the world’s second-richest continent needs a global rescue. But today’s European consumers are too fearful to spend.
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Romney still finding his legs on Bain attacks
He has yet to develop a coherent, consistent response to the President's attacks.
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Facebook stock still slipping as investors grow wary
The company has slipped to $91 billion in total valuation from its opening at $104 billion.
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Mitt Romney's Bain problem: private equity has bad rap with public
Mitt Romney is using his record as a job creator at Bain Capital as a selling point, but – even before President Obama's attack ads – the public isn't inclined to buy it, polls suggest.
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Cory Booker: Have the Democrats figured out how to respond?
Team Romney is trying to milk the rogue comments by Obama ally Cory Booker for all they're worth. But Obama's press conference in Chicago has given his own team some ammunition.
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The Daily Reckoning
Leave Facebook's Eduardo Saverin alone
Eduardo Saverin's timely renunciation of his American citizenship is no reason to keep him out of the US. People should be able to move where they want, when they want, for any reason.
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