Facebook has struggled since its IPO in May, and its uphill battle is far from over. The company’s shares plunged to all-time lows following the expiration of its stock lock-up period. It seems early investors and insiders are taking the opportunity to exit, with the stock falling 7% to $19.71 in early trading. If it […]
Trustee James Giddens—who’s overseeing the liquidation of the brokerage MF Global—has decided to sue some of its high-level execs, reports Financial Times. He plans to join existing class-action lawsuits, which were launched against several senior MF Global employees; John Corzine, Henri Steenkamp, and Laurie Ferber are all named in various suits. Read: Giddens seeks distribution […]
The S&P Growth Index—a key benchmark for U.S. growth stocks—has risen to its highest level in more than a decade. But, while investors have pulled their heads out of the sand, the economy is lagging behind.
Greek Socialist official Panos Beglitis says a proposed round of massive new austerity cuts won’t work without major changes and an extension. Parties in the country’s new coalition government are at odds over how to rescue troubled Greek public finances. Beglitis made the remarks earl this month, hours before the coalition tried once more to […]
The speed and complexity of electronic markets has continued to change at a rapid pace, with The New York Times reporting trade times are now measured in millionths of a second. Despite the benefits of cheaper and speedier trading, though, recent studies suggest there may be some major drawbacks for investors. Read: The limits of […]
Banning short selling during market downturns doesn’t work, says new research by the Federal Reserve Bank of New York. In a new paper, entitled “Market Declines: Is banning short selling the solution”, economist Hamid Mehran—along with two University of Notre Dame finance professors—look at how global regulators limited selling activity in 2011, and whether or […]
Canada is busy celebrating its Olympic women’s soccer team, but not all clubs are having the same success. Shortly before the debut of its IPO on the NYSE, Man United slashed its share price, expected to range from $16 to $20, to only $14, reports the Guardian.
Volatile equity markets and weak interest rates battered Manulife Financial’s Q2 2012 earnings, forcing it to report its fifth loss in the past ten quarters. Following news that low rates could cost insurers millions in the next few years, the company released its earnings. Overall, Manulife posted a $300-million loss in its second quarter, saying […]
Patricia Perez-Coutts has denied any involvement in Westwood Holdings’ alleged lift out of an entire team of AGF investment managers. Only days after AGF launched a lawsuit against her and the company for “their [alleged] orchestration of an unlawful conspiracy”, the Globe and Mail caught up with her to get comment. She is both offended […]
Britain’s financial regulator on Friday launched a quick review of the London interbank offered rate, which has been the subject of a global scandal. Martin Wheatley, managing director of the Financial Services Authority, said Friday he was calling for industry responses by Sept. 7. The proposals submitted will be included in legislation now pending in […]