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Global Financial News, Breaking Financial News, Debt and Mortgage Loan Crisis News

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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After Breach, JPMorgan Still Seeks to Determine Extent of Attack

The headache caused by the attack on JPMorgan Chase’s computer network this summer may not go away anytime soon. Over two months, hackers gained entry to dozens of the bank’s servers, said three people with knowledge of the bank’s investigation … Continue reading

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Why you suffer when others lose their jobs

It sucks getting laid off — even for those who keep their jobs. There’s no mystery about the toll paid by workers who get laid off. Income plummets, self-esteem suffers and some unlucky people never regain their economic standing. Now, … Continue reading

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Fed may lay groundwork for rate hike; Alibaba IPO: The week ahead

The biggest IPO in Wall Street’s history could hit the tape Friday morning. Chinese e-commerce giant Alibaba is set to price Thursday after the close and begin trading Friday morning – it’s arguably the biggest event on next week’s schedule. … Continue reading

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Bets on hawkish Fed lift dollar, U.S. bond yields

By Richard Leong NEW YORK (Reuters) – The U.S. dollar ended higher for a ninth straight week against the euro on Friday and hit six-year highs against the yen, helped by speculation the Federal Reserve may strike a more hawkish … Continue reading

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