Investing Archives - Page 46 of 80

Groupon Sues Ex-Employees For Taking Trade Secrets To Google

Groupon has filed a lawsuit against two of its former sales managers for passing on confidential trade secrets to Google, after they left the daily deals company to join Google’s very own competing daily deals site, Google Offers, showed an Illinois court filing on October 21.

The case, named Brian Hanna and Michael Nolan as defendants, both of whom left the company just last month in order to join up with Google’s new online offering.

Wikileaks On The Verge of A Complete Shutdown Due to “Financial Blockade”

Whistleblowing website Wikileaks will have to shut down by the end of year unless a “financial blockade” – imposed on the site by US financial services companies such as Mastercard, Visa and Paypal – can be lifted, thus allowing for donations to stream into the site.

Citigroup Pays US$285 Million To Settle Fraud Charges

Citigroup has agreed to fork out $285 million in order to settle a civil complaint by the Securities and Exchange Commission that it had misled investors into buying a toxic housing-related debt that the bank had betted against.

The transaction involved a $1 billion portfolio of mortgage-related investments – many of which were handpicked for the portfolio by Citigroup themselves – that the bank subsequently bet against and made nearly $160 million in fees and profits while investors lost millions.

Major American Banks, Visa, and Mastercard Accused of Price Fixing

A New Jersey man has filed a lawsuit against the Bank of America, JPMorgan Chase and Wells Fargo for colluding with Visa and Mastercard in a “conspiracy to fix the prices” that ATM users pay when they withdraw cash from a machine not within their bank’s network.

Malaysian Medium Holds Reincarnation Ceremony For Steve Jobs

A Buddhist temple medium from the Malaysian island state of Penang has conducted a religious ritual designed to hasten the reincarnation of former Apple CEO and co-founder Steve Jobs, reported the Sin Chew Daily on Sunday.

Christmas Comes Early For Hasbro With 3rd Quarter Profits

Toy maker Hasbro Inc. has reported third-quarter profit growth of more than 10 percent, as international sales, coupled with rising demand for boys’ toys such as Nerf guns and Transformers, helped to make up for weakened consumer spending in the US.

The improved results come as the company continues to expand into global emerging markets, where a 23 percent increase in international sales helped to offset for a 7 percent decline in the US and Canada.

Pimco, the World’s Biggest Bond Fund, Apologizes To Investors for “A Bad Year”

Bill Gross, manager of the world’s biggest mutual fund, has apologized to Pimco investors for his poor performance saying “I’m just having a really bad year.”

Gross’ apology comes after the poor performance of the Total Return Bond fund. For this year, Pimco has underperformed on its index, the BarCap Aggregate Bond by more than four percentage points.

Google Earnings Exceed Forecasts Easing Fears over Online Ad Market

The online search and advertising leader, Google, posted its third quarter results yesterday in a reminder of how Google Inc. has used its dominant position in the Internet realm to build a business that endures economic turbulences better than most other companies.

Dexia Breakup Woes: What Happens During A Bank Bailout: Peter Zeihan

In 2008, France, Belgium and Luxembourg jointly stepped in with €150 billion of guarantees to tide over Dexia after it ran into financing difficulties. Today, the three nations are once again bailing out the embattled Dexia, with the Belgian state buying Dexia’s local unit for €4 billion.

Patent Wars: Temporary Truce As Samsung Pays Homage To Former Apple CEO Steve Jobs

Samsung Electronics has expressed its condolences to the family and company of former Apple CEO Steve Jobs over his loss, despite being locked in a heated ongoing legal tussle with Apple Corp. over patent and copyright infringement.