May 17, 2012
- WASHINGTON (Reuters) - JPMorgan Chase & Co Chief Executive Jamie Dimon has agreed to testify before Congress over the bank's recent trading losses, which have ignited a political debate over whether large U.S. banks need to be reined in by regulators or new laws.
... - NEW YORK (Reuters) - Stocks hit a four-month low on Thursday as rising Spanish bond yields increased investor anxiety over that country's banks and another round of weak data undermined hopes for U.S. economic recovery.
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- (Reuters) - Gap Inc raised its yearly profit forecast, prompted by first-quarter earnings that topped Wall Street estimates and rising sales, sending its shares up 8 percent in extended trading.
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- NEW YORK/SAN FRANCISCO (Reuters) - Facebook Inc priced its initial public offering at $38 a share, giving the world's No. 1 online social network a $104 billion valuation in the third largest offering in U.S. history.
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- SAN FRANCISCO (Reuters) - An appeals court on Thursday revived part of a lawsuit against Coca-Cola Co in which POM Wonderful LLC accused Coke of falsely advertising its "Pomegranate Blueberry" juice product.
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- (Reuters) - New York City Comptroller John Liu, the city's fiscal watchdog, on Thursday urged shareholders of Chesapeake Energy Corp to withhold support for two directors up for re-election, citing the company's recent governance woes.
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- (Reuters) - Wal-Mart Stores Inc's profit and sales surpassed expectations on Thursday as more people shopped at its established U.S. stores and spent more, pushing shares up 5 percent despite ongoing internal and government probes into possible bribery.
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We largely steer clear of companies going public here at Engadget, but Facebook and its zillions of users warrants an atypical tip of the hat. The outfit has announced that starting tomorrow, 421,233,615 shares of its common...
- (Reuters) - Mortgage insurer MGIC Investment Corp has sued mortgage financier Freddie Mac and the Federal Housing Finance Administration to settle a dispute over coverage limits on certain insurance policies.
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- NEW YORK (Reuters) - Lloyd Blankfein, Warren Buffett and other well-known chieftains of corporate America might be called to testify at the insider trading trial starting on Monday of former Goldman Sachs Group Inc and Procter & Gamble Co director Rajat Gupta.
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