Plunge in Facebook Shares Has California Seeing Red
California is now scrambling because it got hypnotized and overstated by a factor of nearly 50% the amount of capital gains tax revenue that it thought was coming in from the Facebook IPO.
Brazil's Gerdau May Choose Iron Ore Partner By Year-End - Executive
Brazilian steelmaker Gerdau SA (GGB, GGBR4.BR) may select a partner for its iron ore operations in Brazil by the end of the year, a company executive said Thursday.
Kurdistan To Restart Oil Exports In Gesture To Baghdad
Iraq's semi-autonomous region of Kurdistan plans to restart 100,000 barrels a day of oil exports next week in a goodwill gesture aimed at breaking a deadlock with Baghdad over payment for previous exports, according to an advisor to the Kurdish minister of natural resources and letters sent to
Baked: Drought Conditions Intensify
The worst U.S. drought in 55 years continues to intensify as above-normal temperatures and scant rainfall parched corn and soybean crops across the Midwest.
S&P Cuts ArcelorMittal Ratings
Standard & Poor's on Thursday cut its long- and short-term ratings on steelmaker ArcelorMittal to BB+/B from BBB-/A-3, citing European GDP forecasts and the growing likelihood of a global slowdown.
Knight Capital Plummets, Looks to J.P. Morgan for Lifeline
A day after spooking Wall Street with a trading glitch, Knight Capital Group revealed a massive $440 million pretax loss tied to the incident.
UK's O'Donnell: Circumvent Banks to Boost Credit-Report
Banks' stranglehold on credit supply should be loosened with companies and individuals encouraged to play a bigger role in funding businesses, Gus O'Donnell, a potential successor to Bank of England Governor Mervyn King said in an interview with Understanding Society magazine.
Kellogg 2nd-Quarter Net Falls 12% as Europe Struggles Persist
Kellogg Co.'s (K) second-quarter earnings fell 12% as profits fell sharply in Europe, where the cereal maker continued to deal with the fallout from retailers pulling its products from shelves earlier in the year, but better-than-expected sales in North America helped soothe investors.
Gilead Shares Boosted By Bristol-Myers Drug News
Shares of Gilead Sciences jumped 8% to $58.02 in midday trading Thursday, boosted in part by news that Bristol-Myers Squibb has run into safety problems with its hepatitis C drug candidate INX-189.
Eloqua Notches Modest Gains After IPO
Shares of software company Eloqua Inc. (ELOQ) rose modestly on its first day as a publicly traded company.