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Andrew Left has set his short-selling sights on Facebook. Citron Research’s short seller believes the company “is losing an extensive amount of relevancy,” According to CNBC. He believes Facebook is a good company but that it “just will not be a $330 billion company in a year,” he said in a CNBC interview. Facebook shares fell […]
Microsoft is buying LinkedIn for $26.2 billion. The tech giant announced the deal on Monday. Microsoft will pay $196 per share for the social enterprise company. LinkedIn CEO Jeff Weiner will remain CEO of the professional social network, and will report directly to Microsoft CEO Satya Nadella. The company says LinkedIn will maintain its “distinct brand, […]
GoPro shares surged by 7% after the company announced a new investment from energy drink company Red Bull. The extreme sports camera equipment company has watched its stock plunge by 45% this year. Its shares are still trading 90% below its all-time high since going public in 2014. Red Bull is getting GoPro stock as […]
Golfer Phil Mickelson has been named in an insider trading case brought forward by the Securities and Exchange Commission Thursday morning, according to a filing. Mickelson received insider tips from sport bettor Billy Walters, one of the co-lead defendants in the case, regarding Dean Foods. Walters received his information from Dean Foods chairman Thomas Davis, the other co-lead defendant. […]
Gold climbed above $1,300 a troy ounce on Monday, a move that was helped along by a weak dollar and investment inflows. Gold moved up 0.7% from its previous close to end up at $1,302.13 a troy ounce. The price of gold hovered close to $1,300 earlier in the year, but failed to keep its […]
The 40 largest publicly-traded US oil companies lost a combined $67 billion in 2015, according to Energy Information Administration research. Those losses are expected to continue in 2016 as oil prices remain near $42 a barrel. Losses surpassed $1 billion each for many companies including EOG Resources, Devon Energy, and Linn Energy, among others. The EIA […]
April 12 is equal pay day and both Microsoft and Facebook are using this time to announce that they have officially closed the gender pay gap at their respective companies. The tech industry has been traditionally slanted towards men and with it has traditionally arrived larger salaries, an issue that has moved to the forefront […]
Brazilian prosecutors on Thursday charged Joseph Safra, the world’s richest banker, with a scheme aimed at paying bribes to government officials in return for waiving tax debts. Prosecutors say Safra had knowledge of a 2014 plan executed by executives at his BancoSafra SA to pay $4.2 million in brides to federal tax auditors. Prosecutors will present […]
The job cuts at Morgan Stanley’s fixed income business is leading to a talent bleed among its senior staffers. The US bank is looking to cut 25% of its fixed income staff. On Monday, the company’s London and New York offices began cutting staff. Scott Francoeur, head of emerging market credit sales in New York, has […]
Investing can be a rewarding, but sometimes scary, idea. When economic times are tough, many people turn away from conventional ways of investing because they are afraid of taking big loss. If you are ready to take on the risk to get a potential reward, there are plenty of great investment books on the market. […]
1987’s Wall Street was an instant classic. Its even, flowing pace was peppered by clever dialogue, convincing characters, and clean, almost mythological themes. Charlie Sheen’s Bud Fox, a hot young broker faced with an ethical dilemma, boldly sacrificed his career to do what he felt was right. Michael Douglas’ indomitable Gordon Gekko acted both as […]
India’s currency, the rupee, now has its own symbol, thanks to Indian Institute of Technology post-grad D Udaya Kumar, whose design was chosen in a national contest. Kumar will get an award of Rs 250,000, nearly $5,400–and India will get a new currency symbol. The Times of India has more: The Indian rupee will soon […]
