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Bausch & Lomb Nears $9 Billion Sale
Bausch & Lomb, which is owned by private-equity firm Warburg Pincus, is nearing a deal to sell itself to generic-drug maker Valeant for about $9 billion.
P&G\'s Lafley Begins New Talent Hunt
Procter & Gamble's A.G. Lafley, newly returned as CEO, must repopulate a depleted pool of top executives as he prepares a major overhaul and considers succession.
Hulu Suitors Line Up
Yahoo submitted a bid to acquire Hulu, as the Internet company tries to add more high-quality online video that can appeal to advertisers.
Visa, MasterCard Hit Back on Fees
Visa and MasterCard, facing opposition from retail groups to a settlement over transaction fees, asked a judge to rule that their practices for setting the fees aren't anticompetitive.
Bausch & Lomb Unit to Pay $33.5 Million to Resolve Charges
Ista Pharmaceuticals has agreed to pay $33.5 million to resolve charges that it promoted its anti-inflammatory drug Xibrom for unapproved uses in an effort to boost sales, the Justice Department said.
Abercrombie & Fitch Posts Loss
Teenage-apparel retailer Abercrombie & Fitch reported a sharp drop in quarterly sales, but said it is having success fixing inventory problems.
News Corp. Board Approves Split
News Corp.'s board approved the company's separation into two publicly traded entities, moving a step closer to splitting its entertainment businesses from the publishing division.
Shake-Up Hits Law Firm
Growing pains have triggered a management shake-up at Asia-centered law firm King & Wood Mallesons, which made its splashy debut on the world legal stage nearly 15 months ago.
Stocks Snap 4-Week Win Streak
U.S. stocks were virtually unchanged Friday, posting their first weekly decline in five weeks, as investors weighed the prospects for central-bank stimulus measures and recent volatility in global markets.
Bankia Nears Sale of Florida Bank
Spain's Bankia SA has agreed to sell a small bank in Florida to Chilean bank Banco de Credito e Inversiones SA for $882.8 million.
Investors Business Daily (B)
|Some IBD 50 Stocks Fall Below Buy Points|
The IBD 50 index fell for the first time in five weeks, as some of its stocks slid back near or below their buy points. About 10 stocks closed the week below their chart entry points. Of those, Alaska Air (ALK), 3D Systems (DDD), Stratasys (SSYS) and Medicines Co. (MDCO) have sunk more than 8% from their buy points. That's a sell signal, which means the stocks are in particularly perilous spots. Others -- such as Ambarella (AMBA) and Nationstar
Stocks Slip Quietly, Ending Negative Week
Stocks slipped in drowsy volume Friday in the run-up to the three-day holiday weekend. The S&P 500 fell 0.1%, while the Dow rose 0.1%. The Nasdaq was fractionally down. The IBD 50 eased 0.1%. Volume fell across the board. While Friday's price action was nothing to brag about, bulls could take some comfort in the week's action. Despite distribution days Tuesday and Wednesday, the indexes staged positive reversals Thursday and Friday to close high
Marathon Petroleum Poised To Exploit Cheap U.S. Crude
Findlay, Ohio-based Marathon Petroleum (MPC) is one of the country's biggest independent petroleum refiners and marketers in the U.S., running seven refineries. It's also one of the largest operators of company-owned and operated retail gas and convenience stores (under the Speedway brand). Marathon also operates one of the largest terminal and pipeline systems in the U.S. Marathon's Q1 EPS rose 28%, while sales rose 15%. It was the best sales
PolyOne Stresses R&D Higher-Margin Plastics Business
What makes a first-rate company stand out from the rest? Innovation. Plastics maker PolyOne's (POL) R&D efforts have pushed the company to the cutting edge of its industry. Its product line runs the gamut from polyvinyl chloride resins to high-density compounds that are as strong as metal. Just seven years ago PolyOne was stuck in the low-end, low-margin end of the plastics business. "Every project they take on has much higher margins than those
The Short Side: Watch Intuitive, Cognizant, CommVault
Last week's market slide, the first in five weeks, was a wake-up call in several respects. One, it showed that bull runs need breaks. Pullbacks keep investors honest. Two, short sellers must never take their eyes off the market. No one knows precisely when or if the Nasdaq or the S&P 500 will crash and burn. If a pundit says he accurately called the 2008 market meltdown, great. So, did he call the March 2009 bottom accurately too? And what about
Hornbeck Offshore, Green Plains Boot Up Energy Rally
A number of energy industry groups were on the move last week as natural gas prices climbed 4% and oil slipped 2%. By the the close on Friday, oil and gas field-service and alternative-energy stocks had climbed into the top 25 groups among the 197 industries tracked by IBD. In the service group, the biggest operations -- by a wide margin -- are Halliburton (HAL) and Schlumberger (SLB). The leaders this year have been stocks that include Oceaneering
Most Sector Leaders Fall, But Jazz Pharma Keeps Rising
Most Sector Leaders fell Friday, but Jazz Pharmaceuticals (JAZZ) kept rallying to new highs. The drugmaker rose 0.75 to 63.75 in volume about 55% above average. The stock edged above its 60.30 buy point on Tuesday, but made a more decisive move the next day. Shares are extended 6% from the cup-with-handle buy point. Several other Sector Leaders were little changed Friday, as their numbers thinned a bit over the course of the week. 3D Systems (DDD)
Higher Yields Lure Buyers; \'We\'re At Top Of The Range\'
Treasury 10-year notes rose as the highest yields since March bolstered demand while investors debated whether the economy is strengthening enough for the Federal Reserve to consider slowing stimulus measures. Benchmark 10-year yields declined after climbing Thursday to the highest level since March 14 and volatility increased to the most in six months after Fed Chairman Ben Bernanke said earlier this week the central bank may
Q3 Sales Ramping Up At RV Giant Thor Industries
Earnings are important, but investors should also always pay attention to sales. Earlier this month Thor Industries (THO), the biggest RV maker in North America, reported record preliminary sales for its fiscal Q3 ended April 30. Revenue totaled $1.05 billion, up 13% from the same period last year. Sales of motorized RVs jumped 48% to $187.2 million. Towable RV sales rose 9% to $742.1 million. Thor also makes buses, which saw flat sales. "We have
Lions Gate Scores New High Ahead Of Results This Week
Stocks ended mixed and mostly unchanged Friday. Volume was light ahead of the Memorial Day weekend. It was a dull session, but sometimes dull is OK in the stock market, especially after some stalling action in the major averages Tuesday, a distribution day Wednesday and more selling Thursday. Despite the quiet session, the market served up several new highs. Infoblox (BLOX) was the star of the day, rising 14.5%. Late Thursday, the company reported
|IRS exempt unit faulted for group scrutiny in past|
The Internal Revenue Service unit under fire for its reviews of conservative organizations has a long history of targeting groups with extra scrutiny, including foreclosure-assistance charities, credit-counseling services and New York Jewish charities, interviews with current and former employees show.
Market Snapshot: Bears cite performance chasing as stocks rise
As stock prices pause in their nearly two-month push to higher records this week, bearish strategists are passing on the temptation to raise S&P 500 targets, citing a lack of support from fundamentals.
Top Ten: MarketWatch?s top 10 stories, May 20-24
MarketWatch?s top 10 stories of the pre?Memorial Day week, from Tim Cook and Jamie Dimon to Xbox and mozzarella Caprese.
Stocks to Watch: Stocks to watch: Tiffany, United Natural Foods
Tiffany & Co. and United Natural Foods will be among the stocks to watch Tuesday after the three-day holiday weekend.
NewsWatch: Marathons: Less healthy than hamburgers?
More studies question the health benefits of endurance running for exercisers over 40.
Market Snapshot: U.S. stocks break four-week winning streak
U.S. stocks fell for the first week in five as the prospects that the Federal Reserve could start reducing its bond-buying stimulus rattled a market trading at historic highs.
Energy Stocks: Energy stocks fall, end week off 0.5%
Energy stocks fall Friday, though gains earlier in the week cushion the weekly impact of heavy losses in recent trading sessions.
Tech Stocks: Salesforce, Google losses hit tech stocks
Salesforce.com sparked a slump across the stocks of other corporate software vendors and led the broader tech sector into the red.
Earnings Watch: Updates, advisories and surprises
A roundup of the latest corporate earnings reports and what companies are saying about future quarters.
Movers & Shakers: Sears, GameStop are Friday?s biggest movers
Shares of Dean Foods rose on Friday while Sears and GameStop shares fell
|Cramer\'s \'Mad Money\' Recap: Life Lessons|
Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener. This program last aired on February 2, 2013. NEW YORK (TheStreet) -- "There are some things I've been keeping from you," Jim Cramer told "Mad Money" viewers. ... Click to view a price quote on MMM. Click to research the Conglomerates industry.
Newest Fed Speak Suggests Web ETFs
NEW YORK (ETF Expert) -- During Alan Greenspan's tenure at the helm of the Federal Reserve (1987-2006), the investment community created a phrase to capture the former chairman's wordiness. "Fed Speak" aptly described the long-winded ambiguity in his statements. In fact, it is likely that Greenspan was intentionally vague to reduce extreme price swings in the stock market. In 2013, the new sheriff offers citizens a different kind of Fed Speak. Chairman Ben Bernanke has been remarkably straightforward with his plan to print dollars to buy U.S. sovereign debt. Not unlike his European counterpart's infamous promise to do whatever it takes to protect the euro, Bernanke's Fed will purchase government bonds until unemployment reaches 6.5%. In spite of an infinitely more direct approach, Bernanke has explained that the Fed reserves the right to increase or decrease the pace of bond purchases. More recently, there has even been speculation that the Fed would stop printing money sooner and/or change the unemployment target to 7.0%. It follows that, in the quest to be more transparent, Fed Speak is as maddening as ever. Investors do not know what the Fed will actually do because they themselves reserve the right to change on the fly. (The positive spin for the right to change one's mind is called, "flexibility.") ... Click to view a price quote on PKW. Click to research the Financial Services industry.
Stocks Decline for Week on Concerns Fed Will Curb Stimulus
NEW YORK (TheStreet) -- U.S. stocks posted their first weekly decline in five weeks on concern the Federal Reserve may wind down its stimulus program, while data showed weakness in China's manufacturing base, adding to doubts about the pace of the global economic recovery. The S&P 500 finished down 0.05% to 1,649.61, off 1.07% for the week and posting its first three-day losing streak of the year. The weekly decline was the first since the week ended April 19. TheDow Jones Industrial Average managed to squeeze into positive territory, settled up 0.06% to 15,303.10 and inching down 0.33% for the week while the Nasdaq closed down 0.01% to 3,459.14, off 1.14% for the week. ... Click to view a price quote on ^DJI.
Fannie and Freddie Ride Again: Financial Winners
NEW YORK (TheStreet) -- Fannie Mae and Freddie Mac were again huge winners on Friday. Shares of Fannie Mae were up 41% to close at $2.97, while Freddie Mac was also up 41% to close at $2.81, after Ralph Nader in an op-ed piece in the Wall Street Journal said the two companies' common shareholders should fight against the federal government's "great Fannie and Freddie rip-off.". The two mortgage giants together are known as the government-sponsored enterprises, or GSEs, and were taken under government conservatorship in September 2008. Also see: Ralph Nader, Wounded Shareholder of Fannie Mae Freddie Mac >> ... Click to view a price quote on FNMA. Click to research the Real Estate industry.
3 Reasons to Like the New Cambria ETF
NEW YORK (ETF Expert) -- Long-time readers and listeners know that I am an active manager of passive index ETFs. I favor exchange-traded index vehicles because the diversification comes with low expenses, exceptional tax-efficiency and intraday liquidity. The media have regularly inquired why I rarely endorse the use of active ETFs. For one thing, these funds involve more frequent trading, creating a likelihood of adverse tax consequences for the shareholder. There are fewer tax concerns in an index fund that rebalances only quarterly or annually. What's more, indexes do not tend to change much, making it easy to understand what one owns. An active ETF that you bought five months ago may not share much in common with the one that your portfolio holds today. Perhaps most important, indexing (via index ETFs) often outperforms stock picking (via active ETFs) because of dramatically lower internal expenses. ... Click to view a price quote on SYLD.
Small Businesses Need Disaster Recovery Plans
NEW YORK (TheStreet) - Whether it's a tornado, a hurricane or the toilet exploding, small businesses should always have disaster recovery plans in place. Natural disasters are here to stay and last week's devastating tornado that ripped through Moore, Okla. killing two dozen people and injuring hundreds, is a prime example that U.S. weather patterns are becoming increasingly chaotic. Small business owners should be prepared for events they can't control. June 1 marks the start of hurricane season, and while many parts of the New York and New Jersey coastal communities are still rebuilding from Superstorm Sandy, one of the worst hurricane's in U.S. history, The National Oceanic and Atmospheric Administration (NOAA) forecasts a higher than average 2013 Atlantic hurricane season. ... Click to view a price quote on GE. Click to research the Industrial industry.
Quick Take: The Gold Trade, May 24
NEW YORK (TheStreet) -- TheStreet's Jill Malandrino was with Jim Wyckoff of Kitco.com to talk about gold and some of its key technical levels and fundamentals, going forward. "The take-away this week is that the bulls have shown resilience," Wyckoff says. To him, it would appear that a bottom is in -- or close to being in -- with the bulls showing strength near the $1,321 level. Wyckoff sees major resistance at around $1,400. Turning to the fundamentals, Malandrino points out that 2013 has mostly been a corrective year for gold, as opposed to 2012, when it staged monumental returns. Malandrino attributes much of this to speculators playing the Gold ETF: But they "were completely shell-shocked when it came back in hard, not really understanding the fundamentals of the commodity itself." Wyckoff agreed with Malandrino's assessment, adding, "we've certainly seen a solid downward price correction this year," and "we've done near-term and longer-term technical damage." He says that gold will be OK, though, if it can defend that April low of $1,321. Silver, on the hand, tends to trade as a raw commodity at times, rather than a safe haven, like gold. Wyckoff noted that silver can experience additional downward pressure because of this. When asked about other hard metals and their price action, Wyckoff looked at copper, which has seen recent downside pressure due to its heavy exposure to commercial use and weak Chinese economic numbers. "Right now, technically, the copper market bulls and bears are on a leveled playing field," he concludes. Click to view a price quote on GLD. Click to research the Financial Services industry.
Must-Read Book List for Options Traders
I have always loved to read. I read every day and night and have done since I was a child. My mother was an avid reader. I write "was" because she has lost her ability to read at age 88. Today she listens to books on CDs, as her desire to know and learn is still going strong. That desire is the same desire any trader needs to improve his or her knowledge base regarding the world of Wall Street. As I began to compile my list of must-read books, I was surprised, realizing how long this list was growing. But I cannot accept an incomplete list. Leaving off just one of these works is unacceptable because I know how valuable the knowledge to be gained from each one of them still is. If there is a silver thread in the list, I suppose that it revolves around socioeconomic history as it relates to stock market. 1. "The Life and Legend of E.H. Harriman" by Maury Klein. It's an incredible story about an amazing life of the man who made the Union Pacific railroad. what it is today. 2. "Dark Genius of Wall Street" by Edward Renehan, Jr.. The bio of my favorite trader of all time, the incomparable Jay Gould. If Gould were trading today, his hedge fund would rule Wall Street. 3. "The A B C of Stock Speculation" by S.A. Nelson. This is a must-own that I re-read at least once a year. Published in 1903, the book proves that human nature is constant as per trading. 4. "Baruch: My Own Story" by Bernard Baruch. It's the ultimate autobiography of one of the great stock market investors of all time. 5. "The Great Crash of 1929" by John Kenneth Galbraith. Read it and never forget it. 6. "The Day the Bubble Burst" by Gordon Thomas and Max Morgan-Witts. The social history of the debacle of 1929 and its aftermath. 7. "Against the Gods: The Remarkable Story of Risk" by Peter Bernstein. The history of risk management from its beginnings to today. 8. "The Age of Gold" by H.W. Brands. The story of the California Gold Rush and its effect on the development of our country. Heck, just read any history book by Brands. 9. "Titan: The Life of John D. Rockefeller, Sr." by Ron Chernow. The man behind the genesis of the world of the oil business. 10. "The Prize: The Epic Quest for Oil, Money and Power" by Daniel Yergin. Start your oil business study with this classic. 11. "Secrets of the Temple: How the Federal Reserve Runs the Country" by William Greider. Begin your study of trying to understand Uncle Ben and his predecessors by reading this now-22-year-old classic. 12. "One Up on Wall Street" by Peter Lynch. Read it and then go kick some tires. 13. "The Money Game" by "Adam Smith." A must-read classic of the 1960s go-go years. 14. "Technical Analysis of the Financial Markets" by John Murphy. A must-own and must-read on TA. 15. "Options as a Strategic Investment" by Larry McMillan. The ultimate must-read for all options traders. I know this list is extensive, and it could have been much longer. When reading Gould and Harriman, you come away with the sense and knowledge that the railroads of the late 1800s parallel that of the Internet today. Galbraith and Thomas/Witts paint the picture of the original bubble of all time, which allows for you to understand how the regulators of the market blew it only a half-decade ago when allowing for naked shorting. Thomas/Witts portray the atmosphere of the crash and the aftermath of the crash rather vividly. Bernstein on the history of risk is just phenomenal. Yergin nails oil, as does the Chernow's bio of J.D. Rockefeller. Brands book on the gold rush is the best work that I have read on that subject. The "Temple" still holds up well today, especially with the Fed in the news almost daily. "Adam Smith" is both hilarious as well as cynically brilliant as he describes the "nifty 50" era, replete with their own stock market fiascos. Finally, McMillan's options books are biblical in reference to your options knowledge and education. I read his first book on options 30 years ago. The book is as relevant today as then. Hopefully you will read, learn and enjoy them as I have. OptionsProfits can be followed on Twitter at twitter.com/OptionsProfits Click to view a price quote on SPY. Click to research the Financial Services industry.
4 Big Stocks Ripe for a Sharp Pullback
NEW YORK (Stockpickr) --aMarket strategists talk about two kinds of stock market environments: "risk-on" and "risk-off." In a risk-off market, investors are fearful and favor conservative safe stocks. Since this past Labor Day, though, we've been in a "risk-on" market, and some of the most widely reviled (and heavily shorted) stocks have become the market darlings. But sentiment is a fickle beast, and when investors grow nervous about an ever-rising market, they can quickly move back into "risk-off" mode, leading to considerable distress for the recent market winners. >>5 Stocks Poised for Breakouts ... Click to view a price quote on AMD. Click to research the Electronics industry.
3 Tech Stocks Spiking on Big Volume
MADISON, Wis. (Stockpickr) -- Professional traders running mutual funds and hedge funds don't just look at a stock's price moves; they also track big changes in volume activity. Often when above-average volume moves into an equity, it precedes a large spike in volatility. Major moves in volume can signal unusual activity, such as insider buying or selling -- or buying or selling by "superinvestors." >>5 Stocks Under $10 Set to Soar ... Click to view a price quote on SCTY. Click to research the Electronics industry.
|Market Close Report: NASDAQ Composite index closes at 3,459.14 down -.28 points|
Friday's session closes with the NASDAQ Composite Index at 3,459.14. The total shares traded for the NASDAQ was over 1.42 billion. Advancers stocks led declining by 1.06 to 1 ratio. There were
Weekly Economic Review (May 20 - May 24, 2013)
Stock markets fell globally this week as weak data from China and Europe raised worries about slow global growth. Additionally, Federal Reserve Chairman Ben Bernanke sent ambiguous signals in
Amgen, Inc. (AMGN): Today\'s Most Compelling Stock Buy
SoTM Bull's Eye Report - Today's Most Compelling Buy Friday, May 24, 2013 At StateoftheMarkets.com , we strive to "own the best and ignore the
Stock Market News for May 24, 2013 - Market News
Robust results from a technology company along with a bunch of encouraging domestic reports helped benchmarks recover from yesterday's lows. Even so, indices ended marginally in the red.
Making Sense of Data and the Taper Talk - Ahead of Wall Street
Friday, May 24, 2013 The Fed has put the market on notice that it is seriously thinking of reducing the level of accommodation it has been providing lately. The debate within in the Fed
BlackRock Expands Its Asian Real Estate Presence With MGPA Deal
BlackRock ( BLK ) announced its decision to acquire independently-managed private equity real estate investment advisory firm MGPA early Tuesday morning in what comes as the latest move by
Divergence Between S&P 500 And Economic Recovery Grows; Are Investors Too Optimistic?
Submitted by Emma Davis of Investment Contrarians as part of our contributors program . By Sasha Cekerevac There continues to be mixed data regarding the strength of the economic
Consumers Spending Less; Just Ask Wal-Mart
Submitted by Emma Davis of Investment Contrarians as part of our contributors program . By George Leong All of the talk about the negative impact of the sequestration on consumer
Q1 Earnings Season Coming to an End - Earnings Trends
Q1 Earnings Season Coming to an End The Q1 earnings season is effectively over, though reports from a few companies are still awaited. It's been an 'average' earnings season, with some
Q1 Earnings Season Coming to an End - Earnings Trends
Q1 Earnings Season Coming to an End The Q1 earnings season is effectively over, though reports from a few companies are still awaited. It's been an 'average' earnings season, with some
|Sterling Stumbles as Disinflation Accelerates; Light Week Ahead|
The British Pound was one of the worst performing currencies this past week, barely outpacing the Australian and Canadian Dollars, by +0.53% and +0.08%, respectively.
Will EUR/USD Break 1.3000 or 1.2750 on Heavy Data, Risk Trends?
The euro didn’t put in for a concerted move of its own this past week – happy to simply ride the current on stronger counterparts like the US dollar
Gold Rebounds as Stocks Retreat- Is It Time to Buy?
Gold posted a modest recovery this week with the precious metal advancing 2.12% after last week’s 6% decline to trade at $1388 at the close of trade in New York on Friday.
Australian Dollar May Have Scope to Rise Amid Profit-Taking
The Australian Dollar continued to slide last week – yielding the worst performance among the major currencies against its US namesake – as shifting monetary policy expectations undermined demand for the high-yielder.
Japanese Yen Correction to Be Limited- BoJ Rhetoric in Focus
The Japanese Yen bounced back against its U.S. counterpart, with the USDJPY tagging a weekly low of 100.82, and the near-term pullback may turn into a larger correction as the Bank of Japan (BoJ) appears to scaling back its aggressive approach in achieving the 2% target for inflation.
Dollar Could Surge as Markets on the Brink of Something Big
It was shaping up to be a banner week for the US Dollar as the Dow Jones FXCM Dollar Index (ticker: USDOLLAR) powered to fresh multi-year highs, but the suddenly-resurgent Japanese Yen stole the spotlight as it posted its largest weekly gain since August, 2011.
Gold Rebounds as Stocks Retreat- Is It Time to Buy?
Gold posted a modest recovery this week with the precious metal advancing 2.12% after last week’s 6% decline to trade at $1388 at the close of trade in New York on Friday. Is this rally real or should we be looking for fresh short entries?
USDOLLAR Searching for Support- JPY to Face BoJ Rhetoric
The Dow Jones-FXCM U.S. Dollar index is paring the overnight decline to 10,771 as the growth outlook for the world’s largest economy improves.
Euro Fails to Breakout as ECB Fires Warning Shot- H&S Intact
Although the rebound in the EURUSD looks very appealing, the Euro remains poised to face additional headwinds over the near-term.
Euro Rallies on Surprising German Business Survey
IFO’s Wohlrabe says he expects GDP to rise significantly in Q2; GDP confirmed at 0.1% in Q1…
Yen Extends Gains But Near-Term Continuation Questionable
The Japanese Yen continued to press higher amid risk aversion overnight but the sentiment-driven push may struggle to sustain momentum through the week-end.
EUR/USD- Trading the U.S. Durable Goods Orders Report
The U.S. dollar may regain its footing over the next 24-hours of trading as demands for U.S. Durable Goods are projected to increase 1.5% in April.
Yahoo joins growing list of bidders for Hulu: sources
By Ronald Grover and Greg Roumeliotis LOS ANGELES/NEW YORK (Reuters) - Yahoo Inc has submitted a formal proposal to buy Hulu, joining a growing list of bidders for the video service owned by News Corp and Walt Disney Co, two sources with knowledge of the bid told Reuters on Friday. Yahoo just this week announced a $1.1 billion acquisition of blogging service Tumblr. It now joins rival bidders for Hulu, including Time Warner Cable Inc, DirecTV, former News Corp president Peter Chernin and Guggenheim Digital Media, sources have said. It is unclear how much the Internet company bid. ...
News Corp to take charge of up to $1.4 billion this quarter
By Jennifer Saba (Reuters) - News Corp said on Friday it will write down the value of its Australian and U.S. publishing assets by up to $1.4 billion, as the company prepares to split its business between its newspaper and entertainment operations. The company said the goodwill impairment charge was primarily for its Australia newspapers though it gave no more details. It also said it expected reduced cash flows in the future. The charge will be taken in the quarter ending June 30 and could effectively wipe out News Corp's profit. ...
Lobbying in American-US Airways deal focuses on small cities
By Karen Jacobs (Reuters) - US Airways Group and American Airlines , seeking approval for a merger that would create the world's largest airline, are warning lawmakers that a requirement to divest certain airport slots would lead to less service for small and medium-sized cities, sources close to the effort told Reuters. The airlines may be required to shed slots Washington's Reagan National Airport to prevent market domination. There is concern that those slots could go to rivals, such as JetBlue Airways , which would likely use them for flights to major cities. ...
Ex-Virginia bank executives guilty in financial crisis case
(Reuters) - The former chief executive of a failed U.S. bank in Norfolk, Virginia, and three others were convicted Friday of conspiracy to commit bank fraud and other charges in connection with a scheme to conceal loan losses that contributed to the bank's collapse in 2011. Edward Woodard, the former chief executive of Bank of the Commonwealth, was found guilty along with two other executives by a federal jury in Norfolk following a multi-week trial, the U.S. Justice Department said. Federal prosecutors are pursuing several cases stemming from the U.S. ...
Chinese premier criticizes EU move on trade measures
SHANGHAI (Reuters) - Chinese Premier Li Keqiang criticized the European Union over its plans to investigate alleged anti-competitive behavior by Chinese mobile telecom equipment makers and to impose punitive import duties on solar panels from China, state media reported. The official Xinhua news agency reported late on Friday that Li had told business leaders in Switzerland such measures would "harm others without benefiting oneself". Li is the most senior Chinese official to comment on the troublesome issue so far. ...
Visa, Mastercard ask U.S. court to declare card fees are lawful
By Jessica Dye NEW YORK (Reuters) - Visa Inc and MasterCard Inc, opening another front in an eight-year battle over credit card fees paid by retailers, on Friday asked a federal judge to declare that the fees do not violate antitrust law. The lawsuit seeks to give the card companies legal ammunition against some retailers who are trying to opt out a proposed settlement under which they would receive a share of $7.2 billion in cash and fee discounts from the card companies. ...
Exclusive: In surprise, General Growth eyes New York office tower
By Ilaina Jonas NEW YORK (Reuters) - General Growth Properties Inc has paired with Brookfield Office Properties Inc to bid for an expensive New York building in what could mark the No. 2 U.S. mall owner's entry into a new segment of the retail real estate market, according to two sources familiar with the deal. Bids for the 27-story office and retail building at 650 Madison Avenue, one of the toniest shopping and office districts in Manhattan, could exceed $1.3 billion, the sources said. Other bidders include Vornado Realty Trust , one of the sources said. ...
U.S. audit regulator reaches deal with China on document access
By Dena Aubin and Sarah N. Lynch NEW YORK (Reuters) - U.S. regulators will get access to Chinese companies' audit documents under a deal announced on Friday, opening the way to probes of bungled audits after a two-year stand-off between China and the United States. The nonbinding deal is only a partial victory for the United States, which has been blocked from investigating accounting scandals at dozens of Chinese companies listed on U.S. stock exchanges. It applies only to enforcement cases against auditors, not against China-based companies suspected of accounting fraud. ...
Senator urges \'extreme caution\' on SoftBank -Sprint deal
By Doug Palmer and Liana B. Baker WASHINGTON (Reuters) - An influential senator expressed strong concerns on Friday about Japanese company SoftBank Corp's plan to buy 70 percent of Sprint Nextel , warning it could expose the United States to Chinese cyber attacks. "I have real concerns that this deal, if approved, could make American industry and government agencies far more susceptible to cyber attacks from China and the People's Liberation Army," Senator Charles Schumer of New York said in a statement. ...
Stocks barely budge; market ends week with loss
NEW YORK (AP) ? Major stock indexes closed out their first weekly loss in a month in quiet trading Friday.
|Audra McDonald Releases New Album, Appears In Nationally Televised Solo Concert|
This month, Audra McDonald is releasing her fourth album, ?Go Back Home,? her first solo disc in seven years, and starring in a televised concert, featuring selections from the album, on PBS? Live from Lincoln Center.
5 Steps to Making a Sale Through Social Media
New Research: Social Media Trends For Marketers In 2013 (Daily Deal Sites 80% Down?)
Social Media Examiner has just released its annual Social Media Marketing report. It reveals some interesting data about this year?s social media marketing trends. The entire report is available for download here, but I?d like to highlight some of the report?s most surprising and significant points. In a survey of 3,025 marketers, the study determined the following:
Why Google\'s Display Ad Business Drew FTC Antitrust Probe
Just a few months after escaping an antitrust case on its search ads, Google is now the subject of a Federal Trade Commission probe of its display-ad business.
Ed O\'Bannon Case Against NCAA Will Gain Herculean Steam If Tim Tebow, Johnny Manziel Join Lawsuit
In the immortal words of Ron Burgandy, "That escalated quickly."
Dear High School Graduate: Everything You\'ve Been Told Is False
When I graduated from Omaha Creighton Prep High School back in 1977, my fellow grads and I entered a benign, forgiving, if U.S.-hegemonic, economic order where one could find paid work -- albeit of a blue collar variety -- just by completing high school. A world where even a C student was guaranteed some kind of white-collar employment just by earning a college degree; any kind of degree, with any kind of major, from a wide variety of public or private institutions.
Del Negro Firing: Decision Making Process
Los Angeles Clipper Head Coach Vinny Del Negro, who had the most successful tenure of any Coach in Clipper history, was fired this week by owner Donald Sterling. How does unparalleled success lead to termination? Was it the intervention of star players with the owner that led to his downfall?
Do iFarts Not Stink? Coping With Tech Envy In The Valley
The challenges of bathing in the dazzling reflected glory of exalted technologists was front and center in DC this week, when Congress invited Apple CEO Tim Cook to testify about the company?s practice of ?shielding billions of dollars overseas from U.S. taxes,? as Politico phrased it.
Microsoft Reveals The Xbox One
Source: Xbox One\'s Heart-Sensing Tech Not Microsoft\'s Idea
One of the more unexpected capabilities that Microsoft has baked into the forthcoming Xbox One is the new Kinect sensor?s ability to read your heart rate, which it does optically using a system similar to (or even based on) Eulerian Video Magnification, which is a method of taking standard video input and magnifying certain properties in order to find hidden details, like a pulse rate.
New York Times Business
|DealBook: What Gets You Up in the Morning?|
Purpose is a uniquely powerful source of fuel ? and satisfaction. That?s why we resonate so strongly with exhortations that speak to it, the author writes.
USEC to Shut Uranium-Enrichment Plant in Kentucky
The closing of a plant in Paducah, Ky., could pose a problem for the American nuclear weapons arsenal over time but is not likely to affect civilian nuclear electric plants.
New Computer Attacks Come From Iran, Officials Say
The recent attacks seem to be aimed at sabotage rather than stealing information, United States officials say.
DealBook: Bausch & Lomb Said to Be Near $9 Billion Sale to Valeant
If completed, a transaction would be one of the biggest health care deals of the year. And it could reap a sizable profit for Bausch & Lomb?s current owner, Warburg Pincus.
Mike Darnell, a Reality Show Creator, Is Leaving Fox
Mike Darnell, who has supervised reality programming for Fox since before the term reality show entered the lexicon, oversaw ?American Idol,? once the most popular show on American TV.
Business Briefing | Legal News: Ex-Chief Convicted of Trying to Defraud Bank
Edward Woodard Jr., and three others were convicted of conspiring to defraud the Bank of the Commonwealth of $71 million before its collapse in 2011.
Business Briefing | Company News: Fatburger to Sell Beef Patties in Walmarts
The fast-food chain said it would sell the patties in 3,100 of the country?s 4,000 Walmarts.
Business Briefing | Legal News: Ista to Pay $33 Million for Illegal Drug Promotion
The company, now owned by Bausch & Lomb, pleaded guilty to promoting its eye drug Xibrom for unapproved uses.
Off the Charts: S.&P. Has More Than Doubled Under Obama
The Standard & Poor?s 500-stock index has more than doubled since Barack Obama took office, an accomplishment achieved by only four other presidents.
A Program to Combat Food Contamination
Fruit growers, farm workers and a major retailer have started a program aimed at preventing the types of bacterial outbreaks that have sickened consumers who ate contaminated produce.
|How the Smartphone Killed the Three-Day Weekend|
Motherhood and Trading Are Doable
A First: Per-Student Spending Declines
Yahoo Joins List of Hulu Bidders
Banks Violated Mortgage Pact: NY AG
Keeping Watch for a Too-Strong Economy
Should You Pay Someone to Manage Your 401(k)?
Scorecard: How\'s Bill Ackman Doing?
Visa and MasterCard Seek Fee Approval
Hot Trend in Cars: Not Owning One
Iceberg Picnic Goes Wrong in Iceland
Falcone\'s Helicopter Heads to Hamptons
Jersey Shore: Ready for Summer After Sandy
Beware Postcards Promising Free Trips
America\'s Crumbling Bridges
|These Are The Top 20 Tech Investors You Should Follow On Twitter|
Sweet Minimalist Movie Posters Of Your All-Time Favorite Flicks
Satellite Pictures Show A Revolution Waiting To Happen In Bahrain
America\'s Top Colleges Have A Rich-Kid Problem
Freelancers Will Change The Way We Collaborate In The Workplace
FAST AND FURIOUS: Check Out The Real Illegal Street Racers Of Los Angeles
12 Jobs That Must Evolve Or Die
South Korean Jumps Off Building And Lands On And Kills Young Girl Walking Below
Flickr Has A Secret \'We\'re Hiring\' Ad Only Engineers Can See
You Can Fit A Lot Of Kindergartners In A Tesla Model S [Video]
|Cues From Cooperman|
How Wall Street titan Leon Cooperman stays on top in investing and philanthropy.
A Remarkable Writer and Friend
Our tribute to Alan and his work.
Colleagues, Wall Street Friends and Readers Remember Alan Abelson
A sampling of the letters that poured in after the death of the longtime Barron's columnist.
Reader Remembrances for Alan Abelson
Barron's readers share their thoughts and feelings about Alan.
Ryder Is Comin\' at You From Every Angle
The truck-leasing and logistics company's profits have been beating forecasts, and its shares could rise about 20%.
Hold the Phone?Europe\'s Telecoms Are on Sale
European telecoms have put infrastructure spending on hold, causing their technology?and share prices?to fall behind. But don't hang up on them yet.
China\'s King of All Social Media
Tencent is China's Facebook, Twitter, Zynga, and Tumblr all rolled into one, and it's pushing hard into e-commerce. How it stays on top, and why the shares could climb 20%.
The Unknown Life Insurer
Newly public life-insurer and retirement-services outfit ING U.S. is undervalued and misunderstood, trading at half the valuation of some of its rivals. Why the shares could rise 30%?or more in a takeover.
When Thrift Pays
After a second-step conversion, Northfield Bancorp's in tip-top shape. Also, time to take profits in Big Five Sporting Goods.
A Model Portfolio
John Chisholm's Acadian Emerging Markets fund uses a quantitative model to find undervalued stocks with good growth potential in countries with supportive monetary policies.
Financial Times (London)
Volatile Tokyo instils global equity angst
A week of sharp price swings across asset classes was dominated by the Nikkei?s biggest one-day drop in two years and growing uncertainty about Fed policy
Origin of Japan rout lies in Washington
Episode shows the vital question for markets is the Fed, and when and how it withdraws its stimulus programme, writes John Authers
Central banks no insurance for reversal
The Nikkei?s 7.3% plunge on Thursday suggests that central bank intervention offers no insurance against a sharp correction to equity markets
Psst! Don?t tell Sid about Lloyds Bank
The sensible solution here is the boring one: the UK state has a big minority position in a major company, so it should reduce it as demand permits
Bet against Treasuries at your own risk
Inflation, the prime enemy of fixed rate debt, is falling, and that makes Treasury yields look a lot better when lumped together in a beauty contest with other major government bond markets
Silver steadies after steep tumble
Gold and silver prices have been under pressure this year as investors become more confident about the outlook for other asset classes such as equities
EdP raises ?450m in securitisation deal
The power utility?s transaction on Friday was seen as further evidence of Portugal?s successful return to the international debt market
Commodity currencies lose out to havens
Dollar falls against yen and Swiss franc at the end of a volatile week in forex markets, in a retreat that traders said was a sign of profit-taking
Next out of favour as FTSE slips back
The wider London market slid for a second day as the index broke a four-week winning streak, losing 1 per cent since Monday
P&G stands out in weaker US market
Trading was choppy in the second half of the week as market participants assessed the Federal Reserve?s evolving stance toward markets
BBC Business (UK)
|Co-op halts new business lending|
Co-operative Bank has stopped offering new business loans amid concerns over its capital position and talks with UK regulators.
Germany reports sluggish growth
Germany's economy barely grew in the first quarter of the year, figures show, as private consumption helped offset shrinking exports and investment.
IMF chief Lagarde made key witness
A French court does not place IMF head Christine Lagarde under investigation over a payout made when she was finance minister, making her a key witness instead.
Manchester United cuts debt costs
Manchester United has struck a new loan deal to cut the amount of interest it pays on its huge debts.
London Market Report
London's leading shares lose further ground in Friday trading, extending Thursday's global sell-off.
Second RBS apology for app glitch
RBS has apologised for the second time in two months after customers were unable to login to their accounts through their mobile phone app.
Poor countries take on tax avoiders
Developing countries are trying to stop mining companies shifting billions of dollars in profits out of their countries, depriving them of much-needed tax revenue.
Euro bank chief sees UK improvements
European Central Bank president Mario Draghi, visiting London's City district, says he sees "signs of tangible improvements" in the UK economy.
|This Could Devastate India?s Prized IT Sector|
Learning Chinese Becomes a Must in India
Myanmar\'s Kyat Slumps on Imports Flood
Asian Debt: Beware of Bubbles
Why Quantitative Easing Isn\'t Printing Money
Outlook for China?s Economy Worsens
Perfect Storm Sparks Massive Nikkei Sell-Off
Japan\'s Gain Isn\'t South Korea\'s Pain
Here\'s the Bottom Line on Singapore GDP
EU Business (Europe)
|Row on arming Syria rebels deeply divides EU|
A fierce row over whether to arm Syrian rebels fighting President Basharal-Assad's forces has left the European Union deeply divided days beforethe bloc needs to decide on renewing existing sanctions.
Van Rompuy seeks ways to fight youth unemployment
European Union president Herman Van Rompuy on Friday called on Europe's leaders for help in fighting youth unemployment, now at record levels across the bloc.
Weidmann says default should be option for eurozone countries
The head of the German central Bundesbank Jens Weidmann said on Friday that eurozone countries should be able to default, a possibility which the EU has gone to great lengths to avoid during the current crisis.
Eurozone sees bank union progress by June
Key obstacles to a banking union, seen as a keystone in locking down the debt crisis, should be resolved within the next few weeks, the official in charge of the day-to-day operation of the eurozone told AFP in an exclusive interview.
EU bans three pesticides harmful to bees
The European Commission said Friday that it will ban for two years beginning in December pesticides blamed for killing the bees that pollinate food and fruit crops.
EU must extend Syria arms embargo: Oxfam
EU foreign ministers meeting in Brussels next week must extend the arms embargo on Syria and push for a political solution to the country's civil war, British-based charity Oxfam said on Friday.
China Briefing News
|China Clarifies IIT Rules Regarding Share Capital Increase after Equity Acquisition|
The purpose of Announcement 23 is to clarify the IIT liability of individual investors who acquire 100 percent equity from an enterprise and then convert the enterprise?s accumulated surplus into share capital. Continue reading
China Issues Announcement on Value-added Tax Declaration
China released the ?Announcement on Issues Concerning the Declaration of Value-Added Tax by Head Offices and Branches under Pilot Collection of Value-Added Tax in Lieu of Business Tax? on May 7, which is scheduled to take effect on June 1,2013. Detailed information can be found here. Continue reading
People?s Bank of China to Facilitate RMB Exchange in London
May 23 – The Bank of England and the People?s Bank of China are working towards a joint RMB/GBP currency swap line after the banks? governors met earlier this year to discuss a reciprocal exchange arrangement. According to the Bank
China?s First National Mental Health Law Takes Effect
China?s first national mental health law, which has taken almost 27 years to draft, came into effect on May 1, 2013. Detailed information can be found here. Continue reading
China?s New ?Good Supply Practice of Pharmaceutical Products? to Take Effect
China released the newly revised "Good Supply Practice of Pharmaceutical Products" on January 22, which is scheduled to take effect on June 1, 2013. Detailed information can be found here. Continue reading
The Times of India
|CCI to probe why AI can\'t get FDI|
Air India (AI) employees have always complained that the Maharaja faces discrimination against private airlines from the government. Now this grudge has got an official form.
You can double wealth even in a downturn
Investors need to stick to a financial plan in a disciplined manner, says Gaurav Mashruwala.
Benet to head Nestle India
Nestlé India on Friday declared a change in its India management with its current chairman and managing director Antonio Helio Waszyk to be replaced by Etienne Benet.
Trai cracks down on pesky callers
Telecom Regulatory Authority of India (Trai) on Friday fired a fresh salvo against pesky messages and unwanted calls, asking phone operators to disconnect all "telecom resources" - which includes phone, internet and other connections - to those who are flouting the guidelines.
IPL: India Cements stock hits 52-week low
With the son-in-law of the vice-chairman and managing director of India Cements, N Srinivasan, being summoned by the Mumbai police in connection with the IPL betting scam, the stock took a beating and hit its 52-week low on the bourses on Friday.
Stimulus issue not to impact capital flows: Montek
Any withdrawal of stimulus being talked about in the US will not impact capital flows into India as the country does not depend on short-term borrowing, Montek Singh Ahluwalia said today
Fiscal deficit affecting corporate debt market: PM
Undeveloped corporate debt market is a weakness in India's financial system and high fiscal deficit is further complicating the problem, Prime Minister Manmohan Singh said on Friday.
Rupee falls for 6th day, down 4 paise against dollar
Falling for the sixth day in a row, the rupee today ended 4 paise lower at fresh six-month low of 55.63 against dollar on sustained demand of US currency from exporters and some banks, amid capital outflows in stocks.
Nikkei News (Japan)
|FT: U.S. Senators Raise Flag Over Softbank\'s Sprint Bid|
DJ: U.S. Stocks Snap Four-Week Winning Streak
As Rates Rise, Life Insurers Weigh Increased JGB Purchases
Anxieties In Bond Market Approach Post-Quake Levels
Thailand Seeks Stronger Security Ties With Japan: Yingluck
Daio-Hokuetsu Showdown Looms At Shareholders Meet
Record Profit Outlooks Help Firms Weather Wild Stock Swings
Power Plant Bidding May Spark End To Regional Monopolies
Aeon To Open Discount Stationery Stores
Tourists From SE Asia Flocking To Tokyo Area
|Putin Says Amnesty Plan for Businessmen Needs Refining|
President Vladimir Putin, who was expected during a meeting with more than a hundred entrepreneurs on Thursday to give a nod to the State Duma to draft an amnesty act freeing thousands of imprisoned business people, said the concept needed more work, Russian television reported Thursday.
Taxes and Rules Block Business Aviation in Russia, U.S. Lawyer Says
Russia, long touted as an engine of growth for the stuttering global business aviation industry, needs radical changes in its taxation and regulatory system if it is to fulfill that promise, a U.S. expert said.
Gazprom Spends $1Bln to Mark Anniversary
Gazprom spent more than $1 billion on celebrations to mark the company's 20th anniversary this year, Interfax reported Thursday.
Grishin\'s Firm Invests $500,000 in U.S. Robotics Company
Grishin Robotics, a company owned by Mail.ru Group CEO Dmitry Grishin, has invested $500,000 in Swivl, a U.S. company that produces robotic video devices.
UC RusAl Could Lose Director Cheung
An investigation into fraudulent activity on the Hong Kong Stock Exchange could see UC RusAl lose its independent director, Barry Cheung.
|Nochi Dankner set to lose control of IDB|
Bondholders reach deal, may oust Dankner from conglomerate that controls companies such as Cellcom, Shufersal.
Google mulls buying Waze presaging bidding war
Facebook has held talks to buy Waze for as much as $1 billion, two people familiar with the matter said earlier this month.
Asia?s challenges are Israeli business opportunities
An aging population, deep pockets of poverty, environmental hazards ? some of Asia?s most pressing worries ? present a wealth of business opportunities for innovative Israeli companies.
Housing cabinet approves 150,000 rental apartments
Finance Minister Yair Lapid, who chairs the committee, said lowering housing prices was one of the biggest tests of his budget.
Lapid: Cut taxes and freeze spending
Your investments: It?s time for Israel to follow the lead of Hong Kong. Encourage foreign investment and cut taxes.
Housing cabinet to add 150,000 rental apartments
Newly formed cabinet sets deadline to submit plan for building 150,000 new apartment units within the next decade.
Finance C\'tee deadlocked over pyramid companies
Multi-level subsidiary companies face Knesset Finance C'tee limitations on number of layers of subsidiaries.
Your Taxes: Multinational firms in the firing line
Intercompany cross-border transactions root of problems; ITA increasing number of transfer-pricing specialists.
Mail & Guardian (South Africa)
|Shabangu criticises trade unions for \'decimating each other\'|
Minister Susan Shabangu has spotlighted rivalry between NUM and Amcu, and instructed them to join hands against a common enemy: "monopoly capital".
Marks & Spencer accused of Amazonian tax-dodging acrobatics
British retailer hopes to grow its business in a difficult economic climate.
Corruption by any other name
Guptas dropped a name, now we're dropping any mention of our anti-corruption laws, asks David Lewis.
Now is the time for SA and Nigeria
Conditions are auspicious for Africa's two biggest economies to work together for mutual profit.
A playground for faceless criminals
Online offences cost the SA economy millions, have dire implications for the victims, and are on the rise.
\'Don\'t just blame the bankers for the crisis\'
The outgoing governor of the Bank of England has called on the British people not to "demonise" bankers.
Capitalism is about profit, not charity
Big banks, energy giants and internet multinationals won't change their bad behaviour by themselves ? they must be forced to play nice.
Rand rout blamed on labour unrest
Explosive mining sector has brought investors' attention to rising costs and risks.
|Activist investors: Let?s do it my way|
JPMorgan Chase: Unbreakable Dimon
Chasing debtors: Cash-strapped Khashoggi?
Greek banks redux: System reboot
Buttonwood: Apocalypse, not yet
Free exchange: Making pay work
Remittances: Channelling cash
Indian banks: Lenders of the last resort
The euro-zone economy: Recession, cont?d
|Recommended economics writing: Link exchange|
The Spanish economy: On being propped up
Charlemagne: Hobbling behind America
Mexico?s economy: Reality bites
Buttonwood: Apocalypse, not yet
The euro crisis: The sleepwalkers
The European Central Bank: Only the ECB can improve bank credit supply
Small airports: Why smaller airports are shrinking
Global house prices: Location, location, location
The euro-zone economy: Recession, cont?d
|Should Facebook Start Worrying About Yahoo!?|
After Yahoo!?s recent acquisition of Tumblr, maybe it?s time for Facebook to start getting nervous.
How to Pick the Best Broker for You
It's critical to have a good broker on your side to make the most of your investment opportunities.
There\'s More to Microsoft Than Windows 8
The buzz surrounding Microsoft usually involves Windows, but it's making huge strides in the ops management market, too.
Here\'s What Some Big-Time Quants Are Buying
Do these huge dividends interest you?
How to Buy Stock Now -- and Why You Should
It's probably easier than you think -- and it's a great road to a comfier retirement.
Facebook: Kids Still Use It, but It\'s Not Cool
Concerns of sharing a network with parents are true, but alternatives still struggle to displace Facebook.
Dow Limps Into Holiday Weekend
The blue chips finished essentially flat today as investors shrugged off early concerns about the Fed.
Consumers Vote: Apple\'s Brand Is the Gold Standard
Apple's stock may be suffering, but consumers still love Apple.