Author Archives: Editor - Finance Top Stories

This is why the middle class can’t get ahead

For everybody wondering why the economic recovery feels like a recession, here’s the answer: We’re still at least five years away from regaining everything lost during the 2007-2009 downturn. Forecasting firm IHS Global Insight predicts that real median household income … Continue reading

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Alibaba worth more than $200B… just what is it?

Some 80% of e-commerce web site in China is handled by Alibaba.com, so when we say the internet retailer is a major player in China, we’re not exaggerating. But just what businesses comprise the giant? Alibaba’s (BABA) main web site, … Continue reading

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Week ahead: Will BlackBerry find success in comeback bid?

It’s Alibaba’s world and we’re all just living in it this week, but there’s plenty more to look forward to next week. Yahoo Finance’s Jeff Macke, Aaron Pressman, Michael Santoli and Aaron Task break down everything you need to know … Continue reading

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Wall St. flat as Oracle takes air out of Alibaba debut

By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks closed little changed on Friday after Alibaba’s strong debut was offset by falling technology shares as Oracle and Yahoo stumbled, but the Dow managed to edge higher to set a record … Continue reading

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China hands GSK record $489 million fine, sentences executives

By Adam Jourdan and Ben Hirschler SHANGHAI/LONDON (Reuters) – China fined GlaxoSmithKline Plc (GSK.L) a record 3 billion yuan ($490 million / £298.1 million) on Friday for paying bribes to doctors to use its drugs, underlining the risks of doing … Continue reading

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Oracle’s Ellison steps aside, co-CEOs Catz and Hurd take over

By Noel Randewich and Bill Rigby SAN FRANCISCO/SEATTLE (Reuters) – Larry Ellison, co-founder and leader of Oracle Corp for 37 years, stepped aside as chief executive officer on Thursday, to be replaced by co-CEOs Safra Catz and Mark Hurd, raising … Continue reading

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Investors breathe sigh of relief at Scottish vote

LONDON (AP) — Scotland’s decision to reject independence from the United Kingdom shored up British stocks on Friday but worries over future constitutional changes kept a lid on the relief rally. With all 32 Scottish councils having declared, the No … Continue reading

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From $68 the sky’s the limit for Alibaba

Alibaba priced its shares at $68 a piece Thursday, solidifying its stature as the biggest U.S. initial public offering (IPO) in history, and investors are likely to push the price higher when it opens for trading on Friday, analysts say. … Continue reading

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Mortgage Rates Essentially Unchanged at 1-Month Highs

Mortgage rates were essentially unchanged today.  Most lenders were microscopically lower in terms of closing costs, though several went the other direction.  On average, the movement barely registered, keeping rates at their highest levels since August 4th.  This also keeps … Continue reading

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Mortgage Rates Now Back to 4.25% on Average

Mortgage rates have now endured an insulting 10 straight days without improving.  While a few of those have resulted in ‘unchanged’ levels, most have sent rates higher.  Today, in particular, has the grim distinction of moving the most prevalently-quoted conforming … Continue reading

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