The stock market plunged again today, sending the main stock markets down to their to their lowest level in five years. The Dow dropped 678 points, or more than 7 percent, crashing below 9000. The Nasdaq fell 5.47 percent, and the S&P 500 fell 7.62 percent.
The continued drop has sparked increased talk by the government and experts about the need for a takeover of portions of the banking sector — in other words, a move by the U.S. Treasury to claim large ownership stakes of the big banks to help prop them up . Such socialist action is remarkable , considering many leading U.S. investors ridiculed China just a couple of years ago for Beijing’s active support of its banks. Many U.S. pundits predicted China’s bank system would collapse because of bad loans. But Chinese regulators took hard, quick action last year, slamming the breaks of new bank loans , instead of having to bail them out after they became insolvent. The Chinese may yet have problems. But now we&...
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Japanese share prices have plummeted to a new low for the year after US politicians rejected a massive financial bailout plan, triggering a massive slump on Wall Street.
A New York Stock Exchange board shows how prices plunged after the bail-out vote
... more
The woman at the left was arrested for disorderly conduct while wearing a cow suit and chasing children. Just thought you’d like to know. ( WLWT )
A Vivianne Westwood biopic? Oh, this is just too good. ( Jezebel )
After the Huffington Post revealed the possible secret of Sarah Palin’s lips , the Daily News delves into the secrets of her hair . Who’s going to unlock the secrets of her brain ? ( The Cut )
The Dow went up like a gazillio... more
Right now all the market averages are down substantially. It has had a little rally to get back to the starting line and erased earlier losses only to bounce off of it and head back down. Here are the current numbers as I blog:
Dow
8,270.71
-308.48
(-3.60%)
Nasdaq
1,601.67
-43.45
(-2.64%)
S&PÂ 500
874.57
-35.35
(-3.88%)
The S&P 500 has broken the 900 floor and the Nasdaq... more
The Journal of Finance, Vol. 49, No. 5. (1994), pp. 1813-1840. The NASDAQ multiple dealer market is designed to produce narrow bid-ask spreads through the competition for order flow among individual dealers. However, we find that odd-eighth quotes are virtually nonexistent for 70 of 100 actively traded NASDAQ securities, including Apple Computer and Lotus Development. The lack of odd-eighth quotes cannot be explained by the negotiation hypothesis of Harris (1991), trading acti... more
At 1 pm, the broad Standard & Poor’s 500-stock index was down 3.6 percent. The Nasdaq composite index was off about 1.5 percent, despite gains in shares of Apple and Yahoo. The Dow, a...... more
For many local tech companies, it’s feeling a lot like 2000 all over again. The Nasdaq is down, funding has dried up and entrepreneurs are hunkering down for a long winter.
Read the full story ... more
Globalization has acquired a new definition in the last 10 odd years. This can be concluded easily, if one looks at the trends market has followed in as much time. One can now define Globalization as the supply of products and components from the Rapidly Developing Economies (RDE). The most popular among them is China. China sourcing is on the minds of most of the companies in the West for reasons that are by now, well known to all.
This trend has brought... more
Back in the Land that time forgot sunny costa del Saudi after my week in Abu Dhabi by the sea.
Right as promised a report on the Howard Johnston Hotel in Abu Dhabi by the sea.
I telephoned the hotel a couple of weeks ago requesting a price for a 4 nights stay, the price I was quoted was far too high, so I had a look on my number one web site I use for all my overseas travel arrangements.
They had the hotel as a 1/3 rd off the price I was quoted by the hotel itself.
So I booke... more
BEIJING Sept. 29 (Xinhua) -- For most of the people, the Beijing Olympics was unforgettable. They will remember Usain Bolt and Michael Phelps, and those athletes who won their countries’ first ever medals. The Chinese will remember most not the ...... more
In recent years, many journalists (including myself) have experimented with web services intended to help journalism go online, and those efforts have failed.
We’d hoped that things like better newsroom software or local community sites would allow quality reporting to run efficiently and survive as web businesses. But these efforts were often top-down. Newsroom software tried to mirror the needs of the traditional newsroom, for example.
But newsroom software hasn’... more
AOL doesn’t want to get left out of social networking games. Such games are taking off on social networking sites such as Facebook, where Zynga and Social Gaming Network have launched popular viral games.
Today, AOL is announcing an ad-supported mobile gaming community channel with games provided by New York-based Cellufun , a venture-backed company.
AOL said it is starting to make use of its Third Screen Media acquisition as all mobile banner ads on the games are being po... more
While many an entrepreneurs in Silicon Valley imagine their start-ups replacing established media companies, fast-growing mobile video startup MyWaves is instead working with the big companies.
Today, for example, it is announcing a deal with MTV, where MTV will — for the first time in its history — license its content to a third party mobile site that is not related to a carrier. MTV will also sell advertising on the MyWaves site and the two companies will split revenue f... more
Reality Digital provides software that web publishers can use to host their own collections of videos. The company was founded in 2004, before the latest wave of online video startups appeared, and has done well enough for itself, winning MTV, The Travel Channel and other large media companies as partners. And now it has also raised $6.3 million from OpenView Venture Partners . Reality Digital lets a third party use its software to host an entire interface for videos: The videos themse... more
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