Category: Business News

Stocks Close Higher as S&P Sets New Record

Stocks Close Higher as S&P Sets New Record

Stocks rise for the fourth-straight day Stocks closed on a high note Wednesday, marking the fourth consecutive trading day of rising values as the S&P 500 beat its all-time high. The Dow Jones Industrial...

5 Things You Need to Know About GM’s Recall Crisis

5 Things You Need to Know About GM’s Recall Crisis

Members of a House committee spent Tuesday grilling General Motors CEO Mary Barra and a federal safety regulator on why it took a decade to issue a recall for a defect linked to the...

The Stock Market on ‘Roids: Everything You Need to Know About High-Frequency Trading

The Stock Market on ‘Roids: Everything You Need to Know About High-Frequency Trading

Supercomputers and ultra-fast fiberoptic cables give high-speed stock traders a big advantage. But is it cheating? In March 2009, the internet cable company Spread Networks secretly constructed a high-speed fiber-optic cable from Chicago to...

FBI Investigating High-Frequency Trading

FBI Investigating High-Frequency Trading

The Federal Bureau of Investigation is looking into whether some Wall Street firms are manipulating the market to their advantage after Michael Lewis’ new book raised questions about the practice of algorithm-based high-speed trading...

High-Speed Trading Is Turning Wall Street Into a Casino

High-Speed Trading Is Turning Wall Street Into a Casino

Everyone is talking about Michael Lewis’ new book, Flash Boys: A Wall Street Revolt. The book basically calls into question whether high-speed trading, used by geeks and money men alike to front-run the market,...

Comcast Says Time Warner Cable Buyout Will Be Great for America

Comcast Says Time Warner Cable Buyout Will Be Great for America

Comcast’s policy chief David Cohen says he hasn’t heard any “rational, knowledgeable voices” objecting to the $45 billion merger Comcast’s proposed $45 billion purchase of Time Warner Cable won’t violate U.S. antitrust laws or...

Mark Zuckerberg Made a Killing on Facebook Stock Last Year

Mark Zuckerberg Made a Killing on Facebook Stock Last Year

The co-founder and CEO of the social network brought in $3.3 billion by exercising stock options in 2013, a year after he made $2.3 billion from selling shares. The company’s stock has been on...

Your Local Dinky Mom and Pop Liquor Shop Is in Major Trouble

Your Local Dinky Mom and Pop Liquor Shop Is in Major Trouble

Total Wine & More, a rapidly expanding megastore chain with cheap prices, huge selection, and a reputation as “Toys R Us for adults,” understandably has mom-and-pop liquor shop owners feeling like they could use...

GM Recalls Another 824,000 Cars Over Faulty Ignition Switch

GM Recalls Another 824,000 Cars Over Faulty Ignition Switch

The company has recalled 2008-2010 models of the Cobalt, HHR, Pontiac G5, Solstice and Saturn Ion and Sky, bringing the total number of vehicles recalled to 2.6 million. Faulty ignition switches at the heart...

Squeezing the World’s Oligarchs Will Not Work

Squeezing the World’s Oligarchs Will Not Work

I lived for nine years in London, starting in the late 1990s. During that time, I watched many of the prime areas of the city—Mayfair, Hampstead, Knightsbridge—being bought up by Russia oligarchs looking for...