Facebook shares dropped by 6.27 percent. Facebook stock hit record low as the first lock-up period ended. Shareholders, who invested in the well-known social media company, cashed out some of their stake. Facebook shares are down almost 50 percent from its debut.
There's been some positive momentum gaining across global markets over the past 24 hours after German Chancellor Angela Merkel voiced support for the European Central Bank's efforts to prop up the Eurozone. US share markets rose to four month highs overnight, while European markets also rallied. Here positive earnings reports helped boost sentiment with the All Ordinaries Index adding to yesterday's gains, up 1pct. Over the week, the market gained 2pct.
The new Windows RT club will be mostly composed of Dell, Samsung and Lenovo, as confirmed this week by Microsoft, indicating that key PC players will roll out ARM-powered slates during the scheduled Oct 26 launch of the revamped Windows operating system.
No official confirmation from Apple is out yet, though it is widely rumoured that the next iPhone iteration will be out as early as Sept 21, at least in the North American market, sparking a frenetic race for current iPhone owners to dump their old units for some cash.
The Catholic Church is again in another controversy. This time the ownership of a billion-dollar German media company that has been reported to be selling some pornographic materials, which is against its philosophy and teachings.
Local stocks are continuing to add to yesterday's gains, thanks to strong earnings results and positive offshore leads. European and US share markets moved higher overnight on hopes of further stimulus measures after German Chancellor Angela Merkel voiced support for the European Central Bank's efforts to support the Eurozone. Mid-session, the All Ordinaries Index (XAO) is up 28.2pts or 0.6pct to 4381.7.
Authorities in the city of Shanghai have imposed a new rule on property ownership that had so far drawn criticism as it defies even the tradition of home ownership in China.
A U.S. report has cited leading tech firms, chief of them Apple, for active efforts in ensuring that products they issue in global markets were not laced with ‘blood money’.
By Peter Switzer, Switzer Super ReportOne of the scariest propositions you can deal with as a financial adviser is to play around with the timing of a stock market.
By Rudi Filapek-Vandyck, Editor FNArenaI joined Twitter. Not because I am curious what this celebrity has to say about her kids, or to read that another one is waiting for a connecting flight, impatiently.
Note from the Editor: The Consumer Metrics Institute in the US offers independent data and analysis on (online) consumer spending in the US.
A study by the Institute for Policy Studies has found that twenty-six big US companies paid their chief executive officers more last year than they did in federal taxes.
At the rate that Russia has purchased official gold reserves, the European nation logged the largest increase in global official gold reserves purchases over the five year period 2008 to 2012. Russia bought over 500 tonnes of the yellow metal.
Australian businesses could save up to $125 billion a year or $625 billion over the next five years if it shifts to cloud computing, Cloud Accounting Australia review of case studies said.
By Greg PeelThe Dow rose 85 points or 0.7% while the S&P gained 0.7% to 1415 and the Nasdaq added 1.0%.
Creations of leading American fashion designer Ralph Lauren would still be available despite the end of a 23-year licence deal between the fashion brand and Australian accessories outfit OrotonGroup in June 2013.
The Australian sharemarket improved for the third time this week, with the All Ordinaries Index (XAO) gaining 1.1 pct or 46.5 pts to 4353.5. The energy and financial sectors led the rest of the market higher, while the property trusts ended flat.
Samsung has officially rolled out the new Galaxy Note tablet and this time around, it is a full-sized slate and in fact a tad larger than iPad with screen size of 10.1 inches.
Australian Banks on the Run
Local stocks are trading higher at lunchtime, following a mixed lead from overseas market and commodity prices. The European markets closed lower on growth concerns and rumours percolating around the markets that Spain is preparing to ask for an official bailout. The US markets were again mixed after stronger than expected US economic data have raised more doubts that the Federal Reserve will hold off from easing at its next policy meeting.
A taskforce made up of trade unions and manufacturers submitted on Thursday its report to Prime Minister Julia Gillard containing more than 40 recommendations.
It’s best for Apple and Samsung chiefs to sit down and attempt to reach an agreement before a trial jury deliberates on their legal disputes, a U.S. court presiding over the two’s patent contest said on Wednesday.
Nokia may just unveil new handsets by the first week of September, reports said, likely jumping the gun on Apple, which earlier has strongly indicated that the latest iPhone version would hit global markets no later than the mid-part of the same month.
The car repair industry in Australia criticised on Thursday the decision by the Australian Competition and Consumer Commission (ACCC) not to require the recall of 24,000 made-in-China vehicles with asbestos fibre parts.
By Jonathan BarrattEconomic numbers from China last week and the lack of any follow through on stimulus talks from central banks over the last few weeks has seen some weakness reemerge into the copper market.
The Federal Magistrates Court in Sydney slapped on Wednesday a $15,500 fine on a Qantas and a manager for bullying an employee. Citing the Fair Work Act, the court said Qantas manager Peter Cawthorne coerced aircraft engineer Luke Murray into withdrawing a claim worth $10,000.
Commonwealth Bank of Australia (CBA) customers would likely find it harder to accept the bank's explanation that following Reserve Bank of Australia's (RBA) overnight cash rate decisions could threaten its profitability.
By Greg PeelThe Dow dropped 7 points, the S&P was up 0.1% to 1405 and the Nasdaq gained 0.5%.It is looking increasingly likely the Fed will not need to provide additional stimulus in any big way in September.
The Australian sharemarket eased a touch for the first time this week, with the All Ordinaries Index (XAO) falling 0.2 pct or 10.4 pts to 4307. The mining sector was the biggest drag on trade, with the S**9**P/ASX 200 Materials index slumping by 1.35 pct or 131.2 pts to 9620.7.
Etihad Airways is aggressively on the roll and its Australian CEO, James Hogan, declared on Wednesday that following its substantial holdings acquisitions on Virgin Australia and three other carriers in Europe, the airline is looking for more.
