Financial News

Update: Facebook filed to raise $5 billion in stock. (source: USAToday.com)

Financial News Story of the Day – Mark Zuckerberg and Facebook IPO Talk of the Town

Facebook’s IPO may happen this coming Wednesday, according to the Wall Street Journal. Mark Zuckerberg and company are planning to IPO at a valuation of up to $100 billion range.…

Apple Inc is once again the darling of Wall St. thanks to some staggering stats. Apple briefly surpassed Exxon Mobile in becoming the number 1 most valuable company on the strength of 37 million iPhone sales (boosted by the iPhone 4S) and a massive liquid cash stash of $98 billion. Not bad for a company that was supposed to fall flat after the loss of Steve Jobs.…

Financial News Story of the Day – Megaupload Shut Down and Employees Arrested

Megaupload, one of the largest file-sharing sites on the internet, was shut down by authorities on charges of over $500 million worth of copyright and intellectual property theft. Simply, it means Megaupload paid users to upload copyrighted content then claimed they weren’t responsible for what users uploaded.…

Financial News Story of the Day – Fed’s Quantitative Easing 3 Plan in Effect Soon

The Fed wants a third round of “quantitative easing,” which means that they’re planning to purchase mortgage-backed securities or buy up U.S. treasuries that no one wants. How much junk debt do they want to purchase? This time, it’ll cost tax payers an estimated $1 trillion.…

Financial News Story of the Day – Yahoo Co-Founder Jerry Yang Quits for Good

Yahoo co-founder and former CEO Jerry Yang announced that he would be leaving, holding as much as $750 million in company stock. Though no longer the CEO, Yang held the title Chief Yahoo and sat on its board. The internet portal’s stock rose by 5% on news of his departure.…

Financial News Story of the Day – £400 million Costa Concordia Sinks Due to Captain’s Errors

The Costa Concordia ran too close to dangerous waters off the island coast of Giglio. The ship’s captain, Francesco Schettino, also called “Captain Coward,” is now claiming he fell into a lifeboat while assisting other passengers aboard the liner.…

Financial News Story of the Day – Warren Buffett to Match Every Dollar Republican Senators Contribute to Debt Problem

Warren Buffett has just slapped all Republicans in the Senate and single-handedly challenged them to a duel by offering to contribute more to taxes, matching every dollar the senators themselves contribute to help America’s debt issues.…

Financial News Story of the Day – Kodak and Hostess: Life After Bankruptcy

Kodak and Hostess are just two of many companies that have filed for bankruptcy this past year, including SAAB, American Airlines, MF Global and many others. Serious recessions understandably have stronger impacts on companies with already weakened businesses. Kodak is reportedly restructuring its business and getting rid of its film business to focus on digital products for both consumers and businesses, including digital printers.…

Financial News Story of the Day – Verizon to Charge $2 Per Credit Card Payment

Verizon Wireless is about to face a storm of protests thanks to its new $2 charges each time a customer uses a credit card or debit card to make a monthly payment. To be fair to the phone carrier, the charge only applies when you use your credit card to make one time payments.…

Financial News Story of the Day – Students More Protected from Predatory Lending Practices

Student loan debt might very well be the next bubble to pop following housing. Today, President Barack Obama announced that Richard Cordray will head the new Consumer Financial Protection Bureau (CFPB), a different type of government agency tasked with protecting consumers from predatory lending.…