Business Briefing | Legal and Regulatory News: S.E.C. Settles With Former Qwest Executive
NYTIMES Sat, 04 Feb 2012 06:10:57 GMT
The Securities and Exchange Commission has reached a settlement with the former chief financial officer of Qwest Communications International, Robert Woodruff, regarding a civil fraud suit.
Business Briefing | Legal and Regulatory News: William J. Baer Nominated to Lead Antitrust Division
NYTIMES Sat, 04 Feb 2012 06:10:02 GMT
William J. Baer, a lawyer at Arnold and Porter, was nominated by President Obama to head the Justice Department’s antitrust division.
Sony sees $2.9 billion loss, new CEO warns of pain
MSNBC.MSN Thu, 02 Feb 2012 14:58:37 GMT
Ailing Japanese electronics giant Sony Corp warned it was heading for a bigger-than-expected $2.9 billion annual loss, presenting a daunting task for incoming CEO Kazuo Hirai.
VW 'Star Wars' Super Bowl ad isn't one, sort of
MSNBC.MSN Wed, 01 Feb 2012 17:35:42 GMT
Volkswagen won the peoples' vote last Super Bowl by tugging on the heart strings and evoking Star Wars. The company has done it again. But this is kind of a mess. Sponsored By: Chicago Booth Business Forecast   Ads by Pheedo
Woman accused of selling fake Facebook stock
MSNBC.MSN Fri, 03 Feb 2012 14:42:05 GMT
A Wisconsin woman has been charged with theft over accusations she tried to profit from Facebook's much-anticipated plans to go public by selling fake stock in the social media giant.
Teamsters shut down ‘dysfunctional’ local
BOSTON Sat, 04 Feb 2012 05:00:00 GMT
The Teamsters Union has shut down a controversial South Boston local that once handled all the trade shows at Boston’s two convention centers, concluding that years of infighting and allegations of corruption and nepotism had made it too “dysfunctional’’ to survive.
Andrew Zimmern, of “Bizarre Foods,” joins Babson College as an entrepreneur-in-residence
BOSTON Tue, 31 Jan 2012 15:52:22 GMT
Babson College today said that Andrew Zimmern, host of the “Bizarre Foods” cable television show, has joined Babson as entrepreneur-in-residence. Zimmern, whose show on the Travel Channel has explored food cultures in more than 32 countries, will work with the Lewis Institute’s Social Innovation Lab at Babson as well as the Lab’s Food Sol, an ‘action tank’ focused on innovation in the food system.
Facebook files for initial public offering
BOSTON Wed, 01 Feb 2012 22:38:51 GMT
The massive social network Facebook, founded eight years ago in a Harvard University dorm room, today filed papers to go public with a stock offering expected to raise $5 billion.
No Joke: Chrysler and Marchionne Are "Back in (the) Black"
FORBES Thu, 02 Feb 2012 14:18:27 GMT
Chrysler Group Chairman and CEO Sergio Marchionne hit the nail on the head with a half-joking answer to a question he got precisely a year ago: how could Chrysler possibly hit its ambitious goals for 2011?
The Cars Facebook's New Millionaires Should Buy
FORBES Wed, 01 Feb 2012 14:39:52 GMT
Let's just say we can expect to see some big real estate deals to go down in California in the next few months--and some expensive toys parked in driveways soon thereafter.
Watch: Hyundai's 'Think Fast' Super Bowl Ad
ABCNEWS Wed, 01 Feb 2012 23:02:53 GMT
Official big game commercial for the Genesis Coupe.
Watch: 2012 Super Bowl Ad: Coca-Cola
ABCNEWS Fri, 03 Feb 2012 17:48:42 GMT
The Polar Bears throw their first-ever Polar Bowl party.
Watch: 2012 Super Bowl Ad: Teleflora
ABCNEWS Fri, 03 Feb 2012 17:48:29 GMT
Model Adriana Lima offers men advice for Valentine's Day.
Watch: Super Bowl 2012 Commercials: Campaign Kickoffs
ABCNEWS Fri, 03 Feb 2012 18:41:13 GMT
A sneak peek at the new ads debuting during the big game.
Woman Accused of Selling Fake Facebook Stock
ABCNEWS Fri, 03 Feb 2012 23:49:13 GMT
A woman in Wisconsin is accused of selling fake Facebook stock the same day the company went public.
Dow, Nasdaq Surge to Post-Crisis Highs on Strong Jobs, Economic Data
GOOGLE Fri, 03 Feb 2012 21:28:19 GMT
Wall Street enjoyed a broad-based rally on Friday as two key stock indexes rose to the highest levels since before the Great Recession, propelled by better-than-expected employment data released earlier in the day. The strong upward movement by stocks suggests that investors are gaining confidence in the U.S. economic recovery and putting money back to [...]
Your Facebook friends have more friends than you
WASHINGTONPOST Fri, 3 Feb 2012 09:11:00 EST
The average Facebook user has 245 friends. But the average friend on Facebook has 359 friends. So says the latest study by the Pew Center’s Internet and American Life Project. But how could it be true that your friends, on average, are more popular than you? Read full article >>
The Circuit: Google privacy; Commerce Dept. virus; data retention
WASHINGTONPOST Fri, 3 Feb 2012 08:49:43 EST
LEADING THE DAY: Data protection authorities from the European Union have asked Google to delay its new privacy policy while it examines the possible consequences the policy could have on the protection of personal data. The European Union has asked the French data protection authority to lead the examination. Read full article >>
PRESS DIGEST - New York Times - Feb 2
REUTERS Thu, 02 Feb 2012 07:36:07 GMT
Feb 2 (Reuters) - The New York Times reported the following stories on its business pages on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.
Bankers' pay needs to be "corrected" - RBS chairman
REUTERS Fri, 03 Feb 2012 12:39:26 GMT
LONDON (Reuters) - Pay in the banking industry has been high for too long and needs to be "corrected," the chairman of state-backed Royal Bank of Scotland told BBC Radio on Friday. Related Stories Plus Markets puts itself up for sale French Connection warns on profit again Swiss bankers' nerves fray after Wegelin indictment Bakries, Tan seek to oust Rothschild from Bumi board U.S. data boost global equities
Why Facebook's Millionaires May Never Be Happy
SMARTMONEY Fri, 03 Feb 2012 17:49:45 EST
A new books says financial windfalls don't necessarily make your life better.
Xstrata merger 'could cost Glencore £25bn'
FEEDSPORTAL Fri, 03 Feb 2012 15:10:35 GMT
Glencore, the commodities trading giant, may have to pay £25bn to make its proposed merger with Xstrata happen, according to new research.
Friday Sector Leaders: General Contractors & Builders, Home Furnishings & Improvement Stocks
FORBES Fri, 03 Feb 2012 19:00:01 GMT
In trading on Friday, general contractors & builders shares were relative leaders, up on the
Daily Dividend Report: SPG, PEP, ADM, WYNN, PRE
FORBES Fri, 03 Feb 2012 20:00:00 GMT
Simon Property Group (SPG) announced its quarterly dividend of 95 cents per share, an increase of
Facebook ought to ditch its public offering
FT Thu, 02 Feb 2012 20:47:09 GMT
The sole tangible purpose for the IPO proceeds is to meet a tax obligation that will be triggered by going public, writes John Gapper
Facebook's Painful Secondary Impact
WSJ Thu, 02 Feb 2012 19:44:23 EST
There will be plenty of winners when Facebook goes public. And one gigantic loser: the secondary market in trading of private-company shares.
A 57% Price Jump For Caterpillar Stock From $70 To $110 Forecasts...
PRWEB
The month of January only had one triple digit Dow day, as volatility has taken a much needed break, reports the Absolute Wealth newsletter. (PRWeb February 02, 2012) Read the full story at http://www.prweb.com/releases/2012/2/prweb9164618.htm
Public Internet firms ride Facebook wave
BOSTON Fri, 03 Feb 2012 03:53:13 GMT
Facebook’s IPO filing fired up shares of freshly minted public Internet companies, including Zynga and Groupon. Zynga’s business is closely tied to Facebook, because many of its games are played on the social networking site. Facebook’s filing revealed that 12 percent of its revenue comes from Zynga. Groupon rose 6.9 percent. Even shares of Chinese social networking firm Renren caught some of Facebook’s wake.
Major Retailers Cashing in on Facebook
PRWEB
Count Me In, a Facebook group gift shopping app, reports that many retailers are quickly adapting its proprietary platform to their social media strategies in efforts to cash in on Facebook's... (PRWeb February 02, 2012) Read the full story at http://www.prweb.com/releases/facebook-ipo-commerce/shopping-facebook-app/prweb9162121.htm
AutoAlert®, Inc. Announces ''Pattern-Interrupt’ Strategy...
PRWEB
Sets 84 verified appointments in two weeks that convert to nearly $42,000 in parts and labor revenue. (PRWeb February 01, 2012) Read the full story at http://www.prweb.com/releases/2012/2/prweb9154271.htm
Gold Shares Rise, but “Pricing in $1,350 Gold” on Average?
IBTIMES Thu, 02 Feb 2012 14:29:06 EST
Gold shares rallied Thursday afternoon alongside the yellow metal, as the Market Vectors Gold Miners ETF (GDX) climbed $0.
Asian Stocks, Euro Slip as Investors Await U.S. Jobs Data
IBTIMES Thu, 02 Feb 2012 22:48:55 EST
Asian shares and the euro fell Friday as caution set in ahead of key U.S. jobs data, which will offer more clues over the state of the world's largest economy, while Greek debt restructuring talks dragged on and undermined sentiment.
Dr. Rian A. Maercks, M.D. Joins the Exclusive Haute Living Haute MD...
PRWEB
Dr. Rian A. Maercks, M.D., premier aesthetic craniofacial and reconstructive plastic surgeon in Miami, is the newest member of the elite Haute MD Network. (PRWeb February 02, 2012) Read the full story at http://www.prweb.com/releases/2012/2/prweb9157104.htm
MissionIR News - Bovie Medical Corp. Receives 510K Clearance for...
PRWEB
FDA’s 510k clearance allows Bovie to market handpiece and advance in electrosurgery marketplace (PRWeb February 02, 2012) Read the full story at http://www.prweb.com/releases/2012/2/prweb9162614.htm
Facebook's Zuckerberg to keep iron grip after IPO
SIFY Thu, 02 Feb 2012 04:04:14 GMT
Facebook unveiled plans for the biggest ever Internet IPO that could raise as much as $10 billion, but made it clear CEO Mark Zuckerberg will exercise almost complete control over the company, leaving
Who will make the most from Facebook's IPO
SIFY Thu, 02 Feb 2012 06:26:32 GMT
Just about everyone in Silicon Valley has dreamed of striking it rich with a well-timed investment. Here are the people and institutions that will benefit the most from Facebook's initial public
Facebook IPO tests easy growth assumptions
SIFY Thu, 02 Feb 2012 06:59:40 GMT
As Facebook hurtles toward one of the largest initial public offerings in U.S. history, its honeymoon with investors may already be over. The dorm-room project started by Harvard dropout Mark
The Fed: Bernanke backs congressional ‘armistice’ call
MARKETWATCH Thu, 02 Feb 2012 19:00:56 GMT
Federal Reserve Board Chairman Ben Bernanke calls U.S. vulnerable to sudden fiscal crisis if Washington doesn’t come to grips with deficit, backs Rep. Mike Simpson’s call for an “armistice” between Republicans and Democrats
MarketWatch First Take: Facebook IPO has many mutual-fund friends
MARKETWATCH Thu, 02 Feb 2012 16:42:45 GMT
Investors are wondering about the Facebook status of their mutual funds, meaning whether their fund has a piece of Facebook and stands to profit from the social-networking firm’s initial-public offering, writes Chuck Jaffe..
Tuesday Sector Leaders: Water Utilities, Aerospace & Defense Stocks
FORBES Tue, 31 Jan 2012 19:48:49 GMT
In trading on Tuesday, water utilities shares were relative leaders, up on the day by about 1.3%. Leading the group were shares of Pure Cycle (PCYO), up about 9.2% and shares of American States Water (AWR) up about 1.9% on the day.
Tuesday Sector Laggards: Music & Electronics Stores, General Contractors & Builders
FORBES Tue, 31 Jan 2012 19:49:48 GMT
In trading on Tuesday, music & electronics stores shares were relative laggards, down on the day by about 7.8%. Helping drag down the group were shares of Radioshack (RSH), down about 28.5% and shares of Rent A Center (RCII) down about 5.9% on the day.
'World's Worst Banker' Loses British Royal Honor--Like Mussolini
FORBES Tue, 31 Jan 2012 21:30:25 GMT
He didn't go to jail.  But Fred Goodwin, whose reign running the Royal Bank of Scotland resulted in the world's biggest-ever bank bailout in 2008,  received the ultimate insult today. The British Government stripped him of the knighthood he was given in 2004.
Daily Dividend Report: BRCM, AFL, COF, HSY, HVB
FORBES Wed, 01 Feb 2012 19:42:40 GMT
Broadcom Corporation (BRCM) announced its quarterly dividend of 10 cents per share, an increase of about 11% over its prior dividend in November of 9 cents. The company announced earnings that beat analyst estimates, though revenue fell, and issued positive guidance for the first quarter.
Wednesday Sector Leaders: Computer Peripherals, Education & Training Services
FORBES Wed, 01 Feb 2012 21:40:00 GMT
In trading on Wednesday, computer peripherals shares were relative leaders, up on the day by about 6.2%. Leading the group were shares of Key Tronic (KTCC), up about 27.1% and shares of Seagate Tech Ireland (STX) up about 22.9% on the day.
Facebook Slams The Brakes on its Dopamine-Delivery System
FORBES Thu, 02 Feb 2012 14:26:11 GMT
The world was breathlessly awaiting the filing of Facebook's prospectus Wednesday. But the actual S1 revealed that Facebook's growth is slowing down and unless it can find a way to speed it back up, investors in its shares will not be happy campers.
Freddie Mac's Conflict Is 'Unsavory,' 'Shocking,' 'Stunning,' Key Senators Say
NPR Wed, 01 Feb 2012 18:45:00 GMT
Two senators who have taken the lead on legislation aimed to help homeowners refinance are blunt about how concerned they are by the news NPR reported about Freddie Mac's "multibillion-dollar bets against American homeowners being able to refinance."
With IPO, Facebook’s Valuation Could Reach $100 Billion
GOOGLE Wed, 01 Feb 2012 22:10:26 GMT
After months of increasingly frenzied speculation, social networking juggernaut Facebook filed IPO registration documents Wednesday with the Securities and Exchange Commission. Although the company said it aims $5 billion, that number could rise as high as $10 billion, depending on investor demand. Facebook’s public debut, which caps a meteoric rise to the top of the [...]
Read Facebook CEO Mark Zuckerberg’s IPO Letter
GOOGLE Thu, 02 Feb 2012 00:06:12 GMT
Social networking giant Facebook filed IPO documents with the Securities and Exchange Commission on Wednesday. Here is CEO Mark Zuckerberg’s letter to prospective shareholders. LETTER FROM MARK ZUCKERBERG Facebook was not originally created to be a company. It was built to accomplish a social mission — to make the world more open and connected. We [...]
Why Facebook’s IPO Matters
GOOGLE Thu, 02 Feb 2012 10:00:46 GMT
Facebook's initial public offering later this spring will create a billion-dollar windfall for its founders and early investors. But at a deeper level, the company's IPO serves as a symbol for the emergence of the Internet as a powerful tool for individual self-expression and collective organization. It's also a dramatic example of a generational shift taking place among the entrepreneurial class, one that elevates social change as a priority along with commercial success.
Glencore and Xstrata in merger talks
FEEDSPORTAL Thu, 02 Feb 2012 09:02:13 GMT
Xstrata, the London listed Swiss mining group, is in talks with Glencore, the world's biggest quoted commodities trader, about a possible all-share merger of equals.