Volkswagen AG (PINK: VLKAY) cuts its internal European 2012 annual sales guidance by 150,000 vehicles, according to German news magazine Der Spiegel, Reuters reported.
Because of the U.S. Treasury Department's announcement Sunday that it has launched an offering of $18 billion worth of its American International Group Inc. (NYSE: AIG) common stock, the government will soon go from being the company's majority shareholder to being one of its minority shareholders.
Each week, the IBTimes Money team picks the six biggest, most dramatic, or most compelling winners and losers in business. For the week of Sept. 3-7, the former include global automakers such as the Honda Motor Co. (NYSE: HMC), and the latter include the Nokia Corp. (NYSE: NOK).
Facebook's (FB) stock continued to witness swinging fortunes as its prices hit an all-time low of $17.55 Tuesday before closing at $17.72, almost 1.82 percent lower than the previous close. Amidst the fluctuating fortunes, CEO Mark Zuckerberg declared that he would not sell any shares at least for another one year.
Late Monday, word leaked out that Draghi is now saying the ECB should pursue a policy of monetizing sovereign debt of periphery countries -- that is, printing reams of new euro to buy bonds issued by those governments -- even though such a policy path exceeds the central bank's mandate and has been adamantly opposed by the German political establishment.
Morgan Stanley Monday cut India's economic growth forecast to 5.1 percent from the previously projected 5.8 percent, citing low private investment and poor government finances.
Morgan Stanley pared down India's economic growth forecast to 5.1 percent Monday, the lowest to be announced by any private forecaster in the fiscal year 2012/13. The financial services firm ascribed the low growth outlook to weak external demand, low private investment and poor government finances.
Workday, the human-resource software company started by PeopleSoft founder David Duffield, filed for a $400 million initial public offering sometime later this year.
Asian stock markets ended mixed Wednesday as investors remained in a waiting mode ahead of Federal Reserve Chairman Ben Bernanke’s speech at the Jackson Hole symposium.
Investing and personal wealth management were made more accessible by Bank of America Merrill Lynch with its so-called online trading platform Merrill Edge.
Banks involved in London interbank offered rate benchmark, or Libor, manipulations could be liable for billions of dollars in lawsuits from a slew of financial firms and investors who were affected by the distortions, according to reports.
While Samsung Electronics lost out to Apple in the high profile patent trial, wherein the U.S. court ordered the former to pay $1.05 billion for patent infringements, experts aver that the ongoing partnership among the two companies for supplying components will hold good.
Samsung Electronics shares tumbled more than 7 percent on Monday, wiping $12 billion off the South Korean giant's market value, as Apple Inc's sweeping legal victory in their U.S. patent battle raised concerns about its smartphone business - its biggest cash cow.
Asian shares retreated from a two-week high Friday on scaled back expectations of more stimulus from the U.S. Federal Reserve and growth concerns after manufacturing surveys from the euro zone and China depicted a bleak outlook.
The good news for investors in Facebook (Nasdaq: FB), the No. 1 social networking site, is that the shares didn’t set a new, post-initial public offering low on Wednesday. But they have come close, trading as low as $18.96 before recovering to $19.40, up 24 cents in late trading.
The top after-market Nasdaq gainers Tuesday were Vitesse Key Tronic Corporation, Alexza Pharmaceuticals Inc, Affymax Inc, Fifth Third Bancorp and Warner Chilcott plc.The top after-market Nasdaq losers were Ultra Clean Holdings Inc, Dell Inc, Career Education Corporation, Thomas Properties Group and Amkor Technology Inc.
Asian stock markets declined Monday on worries that the Chinese government will tighten measures to control rising property prices.
Shares of Facebook (Nasdaq: FB), the No. 1 social networking site, fell to a new record low of $19.01 in midday Friday trading, a day after insiders were allowed to sell as many as 241 million shares they had been required to hold since the May 17 initial public offering.
Any trial in U.S. District Court of the more than 50 shareholder lawsuits alleging fraud by Facebook (Nasdaq: FB), the No. 1 social networking site, and its underwriters could be as much as five months away, lawyers said.
Shares of Google (Nasdaq: GOOG), the No. 1 search engine, set a five-month high Monday after the company advised the U.S. Securities and Exchange Commission of plans to fire 4,000 Motorola employees, two-thirds outside the U.S.
U.S. regulators directed five of the country's biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help.
Shares of U.S. banks of all sizes and specialties rose Friday over 3 percent, handily beating the performance of the wider stock market, which itself was in a head-first rally following a week of disappointing news. But there was one big exception to the equity party: megabank JPMorgan Chase and Co. (NYSE:JPM), which looked poised to underperform its peers in late-afternoon trading.