may 19, 2012
WASHINGTON, May 19 (Xinhua) — U.S. President Barack Obama on Saturday urged Congress to finish implementing Wall Street reform by finally putting in place banking rules he signed into law two years ago, in order to protect U.S. consumers and help the economy.
Obama, in his weekly radio and Internet address, criticized Republicans in Congress for trying to delay and dismantle the critical reform aimed at protecting consumers and …
may 19, 2012
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Below, …
may 19, 2012
Consider Groupon, Netflix, MySpace and Beware, says CEO
ATLANTA- Crown Financial Ministries CEO Chuck Bentleyoutlined reasons that should concern investors who plan on “liking” Facebook for their portfolios. He discussed his hesitance in a national e-blast to supporters of the 35-year non-profit that helps people and businesses who are struggling after making bad financial decisions and working to build a strong foundation to “do well.”
“The buzz on Wall Street this week …
may 17, 2012
NEW YORK, May 17 (Xinhua) Wall Street extended losses Thursday, with the Dow Jones industrial average suffering its 11th loss in last 12 trading sessions, amid intensified fears about European banking systems.
When the market closed, the Dow Jones industrial average fell 156.06 points, or 1.24 percent, at 12,442.49. The Standard & Poor’ s 500 was down 19.44 points, or 1.51 percent, to 1,304.86. The Nasdaq Composite Index …
may 17, 2012
NEW YORK, May 17 (Xinhua) — Facebook on Thursday set the price for its highly-anticipated initial public offering (IPO) at 38 dollars per share, the high end of its expected range of 34 dollars to 38 dollars per share.
The price came one day before Facebook begins to trade on the Nasdaq stock exchange on Friday under the symbol “FB”.
At the price of 38 dollars a share, the world’s …
may 17, 2012
LONDON, May 17 (Xinhua) — International ratings agency Fitch announced Thursday to have cut Greece’s credit rating from B- to CCC, citing the “hightened risk” that Greece could leave the euro zone.
Recent Greek parliamentary elections and subsequent failure to form a government underscores the lack of public and political support for the austerity plans in Greece, Fitch said in a statement on its website, …
may 17, 2012
MOSCOW, May 17 (Xinhua) — Russia’s banking system could bear risks from the mounting Eurozone crisis, a Russian central bank official said Thursday.
The director of Central Bank (CB)’s financial stability department Sergei Moiseyev said that stock market drops and liquidity changes in Europe could pose some threats to Russian banks, but those risks are “moderate and acceptable.”
Russian banks hold small amounts of securities from Eurozone countries, so the possible “ripple effect” of …
may 17, 2012
SYDNEY, – There have been mixed reactions with Internet IPOs from companies such as LinkedIn, Groupon, Zynga, and Yelp in recent years, with not all of them having a successful start.
With Facebook’s high initial market capitalisation, the initial share price set in the IPO are seen by many analysts as a bit on the expensive side, especially as the initial valuation have already factored an assumption of high revenue growth projections for the next five years.
However, over the long term, …
may 17, 2012
BEIJING, May 17 (Xinhua) — Chinese shares rebounded Thursday after falling for four consecutive days, with the benchmark Shanghai Composite Index up 1.39 percent to 2,378.89 points.
The Shenzhen Component Index edged up 1.64 percent to 10,079.48 points.
Combined turnover on the two bourses rose to 145.46 billion yuan (23 billion U.S. dollars) from 134.8 billion yuan the previous day.
Gainers outnumbered losers by 829 to 91 in Shanghai, and …
may 15, 2012
Average travel distance decreases significantly as holiday travelers economize by decreasing entertainment costs
WASHINGTON, — AAA projects 34.8 million Americans will travel 50 miles or more from home during the Memorial Day holiday weekend, an increase of 1.2 percent – or 500,000 travelers – from the 34.3 million people who traveled one year ago. The Memorial Dayholiday travel period is defined as Thursday, May 24 to Monday, May 28.
“The overall domestic economic picture continues to improve slightly, however, American consumers faced a new challenge this year as …
