George Soros' Good Timing On Gold Likely Netted $90M

You know what? Gold prices have been rising since July 1999, after hitting the 20-year low of $252.80 an ounce. Today, it stands at $1,783.60, recording over 600 percent growth in the last 13 years. If you'd exited your holdings in Silicon Valley firms (remember the dot com bubble?) and...

Sell Side Analysts Score a Big Fat F on Knight Capital

We all know what went wrong with Knight Capital Group Inc. (NYSE:KCG) last week. The big bug on the new trading platform inadvertently purchased stocks of many American corporations without any human input, resulting in the loss of $440 million within 45 minutes.  The firm had to arrange emergency funding...

Google Executive Marissa Mayer Surfs to Yahoo

In a move that surprised everybody, long-time Google Inc (NASDAQ:GOOG) executive Marissa Mayer has been appointed as the president and CEO of Yahoo! Inc. (NASDAQ:YHOO). Ms. Mayer, who was the first female engineer at Google, is known for playing key role in bringing some of the Google's most popular...

JPMorgan Earns $5B Profit in Q2, Loses $4.4B on Trades

JPMorgan Chase & Co. (NYSE:JPM) announced the second quarter results on Friday, reporting the net profit of $5 billion or $1.21 per share, which is 9 percent down from the same quarter a year ago. Overall, the revenues in April-June quarter stood at $22.9 billion. Last year, the bank's...

Barclays Chairman Resigns Over Rate-rigging Scandal

After a devastating blow to Barclays PLC (NYSE:BCS) (LON:BARC) reputation due to interest rate-fixing scandal, the bank's chairman Markus Agius resigned today. Chief executive Bob Diamond, too, is under immense pressure to quit. Barclays admitted that it has attempted to manipulate the setting of London Interbank Offered Rate (Libor), which is the benchmark...

Impoverished Spain Bails out Cash-strapped Bankia

Soon after the Spanish government announcing a €19 billion ($23.78 billion) bailout of troubled  Bankia SA, the country's 10-year bond yield rose 0.18 percent point to 6.47%, putting the Spanish sovereign bonds under heavy pressure. The Spanish debt insurance costs have pushed to a fresh records and five year...

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