Apple Shines, Facebook Falls
Morning Business Memo: Forget Facebook. The stock market still belongs to Apple, the world’s most valuable company. Apple shares rose nearly 6 percent yesterday as stocks rallied after weeks of losses because of the debt crisis in Europe. Apple’s bounce was the firm’s second-largest gain… Read More »
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Facebook IPO: Eduardo Saverin Defends Citizenship Move
Eduardo Saverin, a co-founder of Facebook and soon-to-be IPO multi-billionaire, defended relinquishing his U.S. citizenship, which led lawmakers to announce the Ex-Patriot Act this morning, saying he “will pay hundreds of millions of dollars in taxes” to the U.S. “My decision to expatriate was based… Read More »
Foreclosure Filings Lowest Since 2007
Foreclosure activity is down to a near five-year low across the country, according to new numbers out today by RealtyTrac. “In April 2012, there were less than 189,000 properties with foreclosure filings during the month,” Daren Blomquist of RealtyTrac says. “That was a 57-month low. … Read More »
Dow Closes Lower; Oil and Gas Prices Down Again
STOCKS The Dow Jones Industrial Average ended the day down 125.25 points or 0.98 percent. The S&P and NASDAQ also ended the day down more than 1 percent. Clearly between the European debt crises and the tainted reputation of America’s biggest bank, there wasn’t much… Read More »
JPMorgan Chase CIO Ina Drew Resigns
By BILL McGUIRE and KEVIN DOLAK Ina Drew, the chief investment officer at JPMorgan Chase and one of the top women on Wall Street, resigned today in the wake of the firm’s $2.3 billion in-house trading loss. JPMorgan said in a statement today that Matt Zames,… Read More »
Facebook’s Eduardo Saverin Joins Americans Renouncing Citizenship
In 2011, billionaire Facebook co-founder Eduardo Saverin relinquished his U.S. citizenship and joined nearly 1,800 other Americans to do it last year — up from 235 in 2008. Saverin, 30, a Brazil-born resident of Singapore who helped launch Facebook with his Harvard schoolmate Mark Zuckerberg,… Read More »
Only Half of Recent College Grads Employed Full Time
The great recession has taken a heavy toll on college grads, with only half of those who graduated between 2006 and 2011 reporting they have full-time jobs, according to a new study. The survey by Rutgers University’s John J. Heldrich Center for Workforce Development was based… Read More »
Dow Ekes Out a Positive Close
The Dow Jones Industrial Average snapped a six-day losing streak, ending the day up 19.98 points. The S&P was also higher, but the NASDAQ ended the day negative. In the U.S. there was slightly better news on weekly jobless claims, renewing hopes that the job… Read More »
FDIC Seeks to End ‘Too Big to Fail’ Bailouts
The U.S. government has launched a plan to deal with large failed companies that could touch off another Lehman-like disaster, hoping to prevent instability in the financial markets. The Federal Deposit Insurance Corporation’s (FDIC) acting chairman Martin Gruenberg on Thursday outlined steps that the federal… Read More »
Texas, Idaho Friendliest Places to Launch Businesses
What are the friendliest places to launch a small business? According to 6,022 small entrepreneurs and job creators, Idaho and Texas will roll out the welcome wagon. But if you happen to call California, Vermont or Rhode Island home, you might want to think… Read More »
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