Finance Feed

New York Stock Exchange Suspends Trading - The New York Times

The New York Stock Exchange unexpectedly shut down trading in all of its listed stocks late Wednesday morning.

The exchange did not immediately give an explanation for what caused the shutdown. In an alert on its website, it wrote: “Additional information will follow as soon as possible.”

The New York Stock Exchange, which is now owned by Intercontinental Exchange, has had, like other stock exchanges, technical difficulties in the past, but the scale of the problem on Wednesday has little precedent.

Nearly 45 minutes after the shutdown, there was still little clarity on what was causing the problem. Stocks listed on the New York Stock Exchange continued trading on other exchanges, such as Nasdaq.


Microsoft reported to weigh bid shares popped Tuesday after a report that Microsoft might be interested in the cloud software company.

According to Bloomberg, Microsoft is considering a bid for, one week following a report the company was fielding bids for a potential takeover.

Salesforce shares (CRM) closed up 1.6% to $72.75 a share after a brief halt in trading after the news emerged. The stock rose more than 3% after it resumed trading. The company's shares had surged 12% to a record in late April after a report it had hired financial advisers to field takeover inquiries.


Leak of revenue figures adds to Twitter's bad day; shares fall 18% - LA Times

NEW YORK — Shares of Twitter Inc. went haywire Tuesday when a data-scraping financial website leaked the social media giant's downbeat revenue figures with a tweet nearly an hour ahead of the scheduled quarterly earnings release.

As the San Francisco company's stock fell more than 17%, the New York Stock Exchange halted trading at 3:27 p.m. Eastern time, about 20 minutes after the first tweet.


Comcast will not Merge with Time Warner Cable | Wall Street OTC

The largest broadcasting company in the world, Comcast, has just decided to drop the $45 million deal to buy Time Warner Cable. This comes as a result of regulatory impediments, as Comcast would have become an internet censorship element. The merger would have brought major risks to competition. This might have even prevented online video providers to be able to reach customers, according to a written statement issued by Tom Wheeler, Federal Communications Commission Chairman.


Core Consumer Prices in U.S. Increase More Than Projected - Bloomberg Business

(Bloomberg) -- The cost of living in the U.S. excluding food and fuel rose more than forecast in February, reflecting broad-based gains that helped keep a floor under inflation.

The so-called core consumer-price index climbed 0.2 percent for a second month, a Labor Department report showed Tuesday in Washington. The median forecast of economists surveyed by Bloomberg called for a 0.1 percent increase. Prices overall also climbed 0.2 percent, the first advance in four months, as fuel costs stabilized.


Film Takes On Yelp Extortion Claims | WebProNews

Well, it was probably only a matter of time. Someone is making a documentary about Yelp and its alleged “extortion” practices. It’s called Billion Dollar Bully, and it’s raising funds on Kickstarter as we speak.

Would you be interested in seeing this film? Let us know in the comments.

The project comes from Prost Productions and Director/Producer Kaylie Milliken, who is based in San Francisco – Yelp’s home turf. The Kickstarter campaign describes Billion Dollar Bully as “a documentary on marketing giant Yelp’s $3.6 billion racket against small business owners.” A press release for the film came out on Wednesday. It says:

Billion Dollar Bully is a feature length documentary examining Yelp’s business practices involving claims of extortion, review manipulation and review fabrication.

Billion Dollar Bully features business owners from across a broad spectrum who have stepped up and agreed to tell their personal stories of Yelp’s questionable business dealings, all of which are vehemently denied by Yelp, who instead states all allegations are merely conspiracy theories.


Target poised to settle breach for $10 million

MINNEAPOLIS – Target Corp. is poised to settle a class-action lawsuit filed following the retailer's massive data breach in 2013, court documents filed Wednesday in Minnesota show.

A $10-million-dollar fund will be established for victims of the breach, the 97-page settlement says.

Victims will be eligible for up to $10,000 compensation each.


Oil Market Might Not Be Out of the Woods After All as Crude Prices Drop - Modern Readers

CORALVILLE COURIER EDITOR'S NOTE: The price of gasoline shouldn't be going up, but it is, thanks to government. Higher taxes and a mandate on refineries to change seasonal fuel blends are the cause.

What seemed like a resurgence in the oil market may have turned out to be a false dawn after all, as prices tumbled by 4 percent Friday, following distressing reports from the International Energy Agency.

According to these reports, oil reserves in the United States “might soon test storage capacity limits,” which, says the agency, could result in a good chance of “renewed” softness in crude prices. 


The 10 richest cities in the U.S. - Yahoo Finance

The U.S. is home to great diversity — of people and beliefs, of lifestyles, dialects, histories and income levels. Using data from the latest Five-Year American Community Survey released at the end of the year, set out to count down the richest cities in the U.S. This list define’s a city’s wealth by the percentage of its residents earning more than $150,000 in cities with more than 500,000 residents. Think you know where your city falls on the list? 

10. Denver

Percentage of incomes over $150,000: 11%
Percentage of population with bachelor’s degree: 42.9%
Total population: 619,297


Exxon CEO: Get used to lower oil prices - Yahoo Finance

NEW YORK (AP) -- Exxon Mobil CEO Rex Tillerson expects the price of oil to remain low over the next two years because of ample global supplies and relatively weak economic growth.

"People need to kinda settle in for a while," Tillerson said at the company's annual investor conference in New York.

In a presentation to investors outlining its business plans through 2017, Exxon assumes a price of $55 a barrel for global crude. That's $5 below where Brent crude, the most important global benchmark, traded on Wednesday. It's about half of what Brent averaged between 2011 and the middle of last year.