Facebook is on the verge of seeing if investors really “like” it. The social networking giant could file for its hotly anticipated initial public offering as early as Wednesday, according to the Wall Street Journal. The stock market debut will value the company at between $75 and $100 billion dollars, the newspaper said, citing unnamed [...]
Egypt’s benchmark stock index gained the most in almost 2 weeks after the country’s public prosecutor detained Ex-President Hosni Mubarak and his sons while they are being investigated for alleged corruption. Talaat Moustafa Group (TMGH) Holding, the country’s largest publicly traded real-estate developer, gained 1.9%. Telecom Egypt, the biggest fixed-line telephone company in the Middle [...]
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Citigroup Inc posted a $1.3 billion quarterly profit on Tuesday, as losses on bad loans fell, but the bank missed estimates on its earnings as it struggled with a slump in revenue. Shares of Citigroup fell about 3.5% to $4.95 in premarket trading. The third-largest U.S. bank, which took $45 billion in U.S. bailout funds [...]
Goldman Sachs (GS) reported sharp declines in third-quarter earnings and revenue today, hurt by slower trading activity over the summer, but its profits still easily exceeded analysts’ average forecast. Wall Street’s top investment bank said net income fell to $1.9 billion, or $2.98 a share, from $3.19 billion, or $5.25, earned in last year’s third [...]
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Swedish investment bank HQ Bank AB said it is entering liquidation after its licence was revoked over the weekend, with regulators citing gross breaches to Swedish law, sending its shares plunging. The investment bank’s shares traded 80 percent lower in midday trading in Stockholm. The Swedish financial supervisory authority, Finansinspektionen (FI), Saturday pulled the bank’s [...]
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