JPMorgan Sued for Securities Fraud

  JPMorgan Chase & Co. (NYSE:JPM) is being sued for alleged securities fraud by a Louisiana Police pension fund that resulted in a $2bn net loss  for the company. The largest bank in the United States is being sued on behalf of the employees after JPMorgan announced the unexpected loss in a press...

Proxy Voting: Declassified Versus Classified Boards

The introduction of Shareholder Rights Project (SRP) is changing the way boards operate in a positive way. The SRP has been pivotal in helping corporate boards convert from the historical, class-structured formation to a declassified format. The classified format is a system whereby the entire board is categorized into classes...

Australian Companies Worried About the Slowdown in China

The Chinese economy is showing signs of losing steam in the second quarter. A slew of disappointing indicators have analysts around the world worried. The official Purchasing Managers Index fell to 50.4 last month, and based on current data, growth in the second quarter is expected to fall below...

AAPL, INTC, HPQ Might be Among Stocks Gupta Shared Information on

 On Friday, a federal jury convicted ex Goldman Sachs Group, Inc. (NYSE:GS) director Rajat Kumar Gupta of insider trading; the case included shared information about Apple Inc.(NASDAQ:AAPL) and other technology companies. The Wall Street Journal reported that Gupta had been convicted on the following: three securities fraud counts and one conspiracy; he...

Taxes and Education: Negative Return on Investment

On Tuesday of this past week, the Treasury Department released its accounting of expenditures and revenues for the month of May.  As expected, the budget deficit came in at about $125 billion, or, on an annualized basis, about 9.5% of anticipated 2012 GDP.  As for spending, total adjusted annualized...

This Resource is the Scarcest and Most Important

In the history books the 20th century will go by many names; the American century, the Nuclear century, the science century. The 20th century could also be called the oil century. When it was discovered that oil could be used as fuel and in various industrial applications, the once...

Facebook Becomes Litigious, Asks for Lawsuit Consolidation

On Friday, Facebook Inc (NASDAQ:FB) filed a court brief alleging that the NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) trading system's glitch during its May IPO as well as other actions by the exchange were contributing factors to its now infamous share price decline that has resulted in more than 40 investor...

Microsoft In Talks To Acquire Yammer For $1.2 Billion

Microsoft Corporation (NASDAQ:MSFT) has agreed to purchase Yammer, a social media website used for businesses, for $1.2bn, said a person familiar with the deal. According to this person, the company is set to announce the acquisition in late June. Dee Anna McPherson, a spokesperson for Yammer, and Frank Shaw, a spokesperson for...

Friday Post-Market & Company News: GS, PG, GR, GME, SCVL

Every afternoon we provide an update on global market levels, company news, economic data, and hedge fund news.  Post Market Update  Market Levels  * US: Dow: 12767.20 (0.91%), S&P 500: 1342.84 (1.03%), NASDAQ: 2872.80 (1.29%) * Europe: CAC: 3087.62 (1.79%), DAX: 6229.41 (1.46%), FTSE: 5478.81 (0.21%). * Asia-Pacific: Australia: 4057.30 (0.37%), China: 2306.85 (0.47%),...

Facebook (FB) Senior Executive Unexpectedly Resigns

One of Facebook Inc (NASDAQ:FB) highest profile executives has left the company today according to a report from Allthingsd.com. The executive, Bret Taylor Facebook's Chief Technology Officer, left the company in order to pursue future - a future start up. The nature of that start up was not revealed...

AIG Maiden Lane Assets Bought By CS, BAC, C

The Maiden Lane Auctions have closed today with some o the largest banks in America winning parts of the Assets once owned by Bearn Sterns and AIG. The biggest winners of the day were Citigroup Inc. (NYSE:C), and Merril Lynch, the investment arm of Bank of America (NYSE:BAC). The...

Berkshire Rejected On Ally Financial Bid

Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) has failed in its bid to buy the assets of Residential Capital out of bankruptcy. ResCap is the mortgage arm of Ally Financial, a bank holding company the majority of which is owned by the United States government. Residential Capital will now proceed to follow...

Cazenova’s European Equity Hedge Fund Shorting German Auto Stocks

  Cazenova Capital Management is a UK  investment business with close to $20 billion under management. Its hedge fund, European Equity Absolute Return Fund has some interesting equity ideas in a recent letter. The fund finished flat after May, a month in which Greek elections, along with a Spanish banking crisis precipitated...

Facebook (FB) IPO Was Just Bad Not Horrendous [STUDY]

Facebook Inc (NASDAQ:FB) has just cleared the one month milestone since its IPO. At least some news today can leave the company slightly more optimistic about its future. Facebook's initial public offering has not been the worst offering of all time. That honour falls to Giant Interactive Group (NYSE:GA). Facebook's...

Chesapeake and New York Team Up on Fracking

Attorney General Eric Schneiderman announced yesterday that Chesapeake Appalachia LLC has approved over 4,400 leases to be renegotiated on land used for hydraulic fracturing. Leases, previously containing unfavorable terms, will give landowners a chance to change portions of their contracts to gain environmental or financial benefits. The Chesapeake Energy Corporation (NYSE:CHK) subsidiary has agreed to match the new...

Depressions are Highly Inflationary: Evidence from the Federal Reserve

  FROM DEFLATION PUSH……TO INFLATION SHOVE For the third time since 2008, financial markets are pricing in a deflationary rather than inflationary future. The reasons for this are understandable. There is now strong evidence that global economic activity is slowing. The euro-area banking and sovereign debt crisis is worsening. The US...

Moody’s Downgrades 11 Banks, as Contagion Spreads

Moody's Corporation(NYSE:MCO) has cut the ratings of eleven European banks as the world looks on toward a Greek election this weekend. Moody's said that a Greek exit from the Eurozone would trigger further downgrades. The banks downgraded by Moody's today included five Dutch banks, three French banks and one each from Luxembourg and Belgium. The...

Nokia Is Near Death According To Most Analysts

The Finnish mobile phone maker Nokia Corporation (NYSE:NOK) (BIT:NOK1V) is not having a great week. Analysts have downgraded Nokia, in part due to its newly adopted hardware line - Lumia. Moody's has just lowered Nokia to near junk level. Of course, this would have helped investors before yesterday's double digit...

Morning Market & Company News: Updates on GS, AIG, AOL, AMZN, NOK

Every morning we put out a news report with the latest news in global stock markets, company news, and global economic news Market Levels * US: Dow Futures: 12633.00 (0.21%), S&P 500 Futures: 1327.70 (0.11%), NASDAQ Futures: 2542.50 (0.30%) * Europe: CAC: 3072.49 (1.34%), DAX: 6199.81 (0.99%), FTSE: 5477.36 (0.19%). * Asia-Pacific: Australia:...

JPMorgan, UBS, and CS: Tier 1 Capital Levels and Basel III

  The Basel committee on banking supervision has expressed its concerns over European Union, U.S and Japanese banks' implementation of Basel III bank rules. We recently wrote about Basel III rules, their requirements and implications; whereby, we highlighted  tier 1 capital, and common equity tier 1 as key items. The rules...

Moody's, Netflix Boards Among 33 Approving of Declassification

Moody's Corporation (NYSE:MCO) and Netflix, Inc. (NASDAQ:NFLX) boards are among the thirty-three out of thirty-five,  which approved declassification, according to a report by Lucian Bebchuk and Scott Hirst, of Harvard Law School. This means that all the board members will be voted in and/or out on an annual basis, rather...

Thursday Post-Market & Company News: STX, GS, IGT, CG

Every afternoon we provide an update on global market levels, company news, economic news, and hedge fund news.  Post Market Update  Market Levels  * US: Dow: 12651.90 (1.24%), S&P 500: 1329.10 (1.08%), NASDAQ: 2836.33 (0.63%) * Europe: CAC: 3032.45 (0.08%), DAX: 6138.61 (-0.23%), FTSE: 5467.05 (-0.31%). * Asia-Pacific: Australia: 4042.20 (-0.53%), China: 2295.95 (-1.00%),...

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