Posts Tagged ‘New York Stock Exchange’

The Week Unpeeled

Anti-US protests at embassies and elsewhere in mostly Arab states from South Asia to North Africa to the Mideast dominated the news front over the weekend, motivated by a video made in the US that “mocked” (WSJ) the Prophet Muhammad and seemed to ignite Islam extremists.  The pope traveled to Beirut in an unrelated peace-keeping tour, the first papal visit in 15 years.

In other news and places:

  • The SEC fined the New York Stock Exchange, which agreed to pay the $5 million penalty extremely promptly, for allegedly providing information to some customers ahead of others;
  • USA Today underwent a total makeover on Friday, taking cues from the web, including printing comments from readers on Twitter and Facebook; its new web site was launched over the weekend;
  • US, UK and European markets soared after the US Federal Reserve announced it will be buying mortgage-backed securities to provide liquidity to the markets and keep interest rates low in a bid to spur the economy and help the job market, a rare move by the Fed to directly admit and act that it is trying to fix the employment picture;
  • The Dow ended the week 2.2 percent higher at 13,593;
  • US Treasury announced that it was selling at least $18 billion of its AIG shares;
  • European ministers were considering giving Greece some more time to meet its bailout commitments;
  • Figures released by the Office for National Statistics, showed UK unemployment fell by 7,000 in August to 2.59m;
  • Apple unveiled the iphone5 which is thinner, faster and lighter than predecessors. The device will retail at $199 on a two-year contract;
  • Everything Everywhere, Britain's biggest mobile operator, announced it will have “superfast” 4G data networks up and running in the UK by the end of the year;
  • The Olympics and Paralympics finished with a big parade through Central London, where more than a million people lined the streets to acknowledge more than 800 sportsmen and women; and
  • US TV news personality launched her new daytime talk show, “Katie,” apparently trying to fill Oprah’s shoes. End of Story
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The Midweek Unpeeled

This is certainly turning out to be the week of musical chairs in media and business with a host of unions and separations hitting the tape:

  • Big Item: AOL acquires Huffington Post for $315 million
    (doesn’t that seem kinda small nowadays?);
  • Two columnists departures reported at The New York Times Sunday Magazine (last week but still worth mentioning): Randy Cohen from “The Ethicist” and Deborah Solomon from “Questions for.”  Cohen was replaced by Ariel Kaminer, the paper’s “City Critic” columnist; no replacement named yet for Solomon;
  • Keith Olbermann, formerly of MSNBC”s “Countdown,” is joining Current TV (founded by Al Gore), reportedly to launch a prime-time program a la Countdown;
  • Jeff Fager, the executive producer of “60 Minutes,” was named chairman of CBS News, and Sean McManus, president of CBS News and Sports, moved to chairman of Sports. More interesting, David Rhodes, formerly head of TV for Bloomberg News, was named president of CBS News, his first move to network;
  • The New York Stock Exchange announced that it is talks to be purchased by the German exchange, meaning 11 Wall Street would be foreign owned (reportedly at 60%);
  • The London and Toronto stock exchanges are in talks to merge, a combination that would dominate in the mining/natural resource world; and
  • A Picasso sold for $36 million (boom times!)

At Last! Disappearing Ink for Texting

A little too late for the recent insider traders but maybe just in time for Lindsay, TigerText, which was featured this month in The Wall Street Journal, is a new messaging service that allows users to text free from their smartphones and know when their messages have been delivered, read, and then control when it gets deleted from their phone and the recipients. Untraceable communications will no doubt be the one of the next big must-have apps and will no doubt save many of us loads of embarrassment. Next up?  Disappearing Page Six items. CJP

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