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Mar 21, 2014

VOA Videos - March 21, 2014: Ukraine Forces Holding Out as Russia Moves on Crimean...



Ukraine Forces Holding Out as Russia Moves on Crimean...
VOAvideo
Russian forces have been seizing Ukrainian military bases and warships in Crimea as Moscow finalizes its annexation of the peninsula. While Ukraine prepares to remove its forces, though, some Ukrainian military holdouts are refusing to leave. VOA's Daniel Schearf reports from Sevastopol, Crimea.

Al Jazeera English - March 21, 2014: Income for all.

Income for all

FTC | Business Center Blog Update - March 21, 2014: Zero Sum Game.

Federal Trade Commission - Business Center Blog Update


By Lesley Fair

For people in the market for a car, an ad on YouTube for Massachusetts-based Courtesy Auto Group featured some eye-catching numbers:  “Get behind the wheel of the new 2013 Kia Sorento, now lease priced for $239 a month with zero down, or sale priced at $20,980.”  To emphasize the point, the visual on the screen highlighted in bold letters: $239/mo with $0 down. But it’s what came later that led to an FTC lawsuit – and the tenth settlement with a dealership to emerge from the agency’s Operation Steer Clear.

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DealBook P.M. Edition - March 21, 2014: Weekend Reading: March Madness, Wall St. Edition.

For the latest updates, go to dealbook.nytimes.com »
FRIDAY, MARCH 21, 2014
TOP STORY
Weekend Reading: March Madness, Wall St. Edition A number of sides are facing off in our financial coverage of the past week. Since we've already blown our NCAA college basketball brackets, lets try out the concept with the news from Wall Street. We'll reveal the completely scientific results next week.
For the latest updates, go to dealbook.nytimes.com »
A look back on our reporting of the past week's highs and lows in finance.
FRIDAY
The
Media General to Buy LIN Media, Creating Large TV Broadcaster Media General will pay $1.6 billion in a cash and stock for LIN Media, creating a company that will own 74 stations and reach 24 percent of the American market.
Bitcoin owners last month outside Mt. Gox's offices in Tokyo.
Mt. Gox Says It Has Found 200,000 Bitcoins Worth About $114 Million Mt. Gox, the Tokyo-based Bitcoin exchange that filed for bankruptcy last month, said it had found 200,000 Bitcoins that were held in an "old-format" wallet, or digital storage file.
The billionaire Li Ka-shing controls Hutchison Whampoa, which operates the retailer A.S. Watson.
Tycoon Sells Stake in Retail Arm, Forgoing I.P.O. Li Ka-shing agrees to sell a stake of A.S. Watson, which has a global network of more than 10,000 stores, to Temasek in Singapore for $5.7 billion.
Alphonse Fletcher Jr.'s hedge fund, Fletcher Asset Management, is in bankruptcy proceedings.
Skadden to Pay $4.25 Million in Fletcher Bankruptcy Case The trustee overseeing the bankruptcy of the investment firm once led by the flashy money manager Alphonse Fletcher Jr. has reached a $4.25 million settlement with Skadden, Arps, Slate, Meagher & Flom, which once represented Mr. Fletcher's firm.
An SFR boutique in a shopping center outside Paris.
Battle for SFR Puts Vivendi in Driver's Seat The bidding war between two eager suitors for the mobile phone unit SFR gives Vivendi leverage to extract a better deal, Quentin Webb writes for Reuters Breakingviews.
Justice Department Names New Leader for Criminal DivisionDavid O'Neil, a longtime Justice Department official, will assume the role of acting assistant attorney general on Monday, overseeing some major investigations into Wall Street and corporate misdeeds.
George Zimmer was ousted as chairman of Men's Wearhouse.
Zimmer Breaks His Silence on Men's Wearhouse DealGeorge Zimmer, who was ousted as chairman of Men's Wearhouse, the company he founded, before its takeover battle for Jos. A. Bank, gave the deal a mixed review.
An employee of the Gap neatening a jeans display at a store in San Francisco. The retailer announced last month that it would raise its minimum hourly wage.
Pay Higher Wages, Earn More Profit Tony Schwartz makes an argument in the Life@Work column for paying retail employees more and treating them better.
TPG to Buy Warranty Insurance Firm for $1.5 Billion The private equity firm TPG said on Friday that it had agreed to buy the Warranty Group, which underwrites insurance contracts for product warranties.
THURSDAY
Airbnb's founders, from left, Nathan Blecharczyk, Joe Gebbia and Brian Chesky. Their start-up, along with the car-ride service Uber, is a centerpiece of what has become known as
Airbnb Said to Pursue Valuation Above $10 Billion in Fund-Raising Round The couch-surfing company is close to raising more than $400 million in a new round of financing, which could give it a valuation of more than $10 billion, people briefed on the matter said on Thursday.
Robert D. Marcus became chief executive of Time Warner Cable at the beginning of 2014.
$80 Million for 6 Weeks for Cable Chief Rob Marcus, who became chief executive of Time Warner Cable in January, will receive nearly $80 million if the deal to sell the company to Comcast closes.
William C. Dudley, the president of the New York Fed, privately raised concerns that the new rule could inhibit monetary policy.
Fed Official Expresses Concern on Leverage RuleWilliam C. Dudley, president of the Federal Reserve Bank of New York, has expressed concerns that a stricter cap on big banks' borrowing could inhibit the Fed's ability to conduct monetary policy, according to three people familiar with his thinking.
A Zions Bank in Salt Lake City. Zions Bancorporation was the only bank that fell short of the Fed's minimum capital ratio.
Most Large Banks in U.S. Could Cope in Event of Turmoil, Fed Says The Fed, in its latest annual stress test of financial system, said the banks had adequate capital to withstand a severe downturn.
Leo E. Strine Jr., the previous head of Delaware's Chancery Court, was sworn in last month as chief justice of the state's Supreme Court.
Trial Lawyer Nominated to Lead Delaware Chancery Court Andre G. Bouchard, who has represented both plaintiffs and defendants in corporate battles, was nominated on Thursday to lead Delaware's Chancery Court, the nation's leading court for business disputes.
WEDNESDAY
Daniel M. Hawke was the senior Securities and Exchange Commission official who oversaw the insider trading case.
Traders of Tips Meet at Grand Central, and Eat the Evidence The government's case against two Wall Street insiders reveals a scheme that seems oddly quaint, but not very nutritious.
Cyrus Vance Jr., the Manhattan district attorney, has not identified seven former Dewey & LeBoeuf employees who pleaded guilty. His office said the reasons would be made clear later.
A Mystery: Who Are the Dewey Secret Seven? Some lawyers wonder if the Manhattan district attorney agreed to deals with the unnamed cooperators from Dewey & LeBoeuf who pleaded guilty to taking part in a plan to manipulate the law firm's financial statements.
JPMorgan Chase did not say whether Blythe Masters, its head of commodities, would depart with her division.
JPMorgan Commodities Unit to Be Sold for $3.5 Billion The sale, to the Mercuria Energy Group of Switzerland, is part of a trend by Wall Street banks of trying to exit commodities trading.
James J. Angel, a professor at Georgetown University, has accused Goldman Sachs of securities law violations in a fight over a hotel company that stopped filing financial information.
The Trade: Questions Over Goldman Deal as Investors Sit in the Dark In a fight over a hotel company that went "dark," investors have accused Goldman Sachs of having conflicting interests, writes Jesse Eisinger of ProPublica.
TUESDAY
New Alliances in Battle for Corporate Control The abrupt rise and increasing success of activist investors are forcing big money managers to reassess their traditionally passive role as shareholders.
Lisa Madigan, the Illinois attorney general, filed a suit saying the lender deceived borrowers by selling a protection fee.
Costly Loans Are Drawing Attention From StatesStates are increasing efforts to shield vulnerable Americans from short-term loans with interest rates that can exceed 300 percent.
Eric T. Schneiderman, the New York attorney general.
Inquiry Into High-Speed Trading Widens Attorney General Eric Schneiderman announced an investigation into services that allow these traders to profit on information before other investors even see it.
Michael E. Novogratz, an executive at the hedge fund firm Fortress Investment Group.
Fortress, Benchmark and Ribbit Buy Stake in Pantera Bitcoin The partnership represents a significant step in the push to move Bitcoin into the financial mainstream.
111 East Wacker Drive in Chicago, one of the properties that are part of CommonWealth REIT, a $25 billion real estate empire based outside Boston.
Activists Prevail in Campaign to Oust REIT's Board A shareholder vote set in motion a process that will almost certainly result in the ouster of Barry M. Portnoy and his son, Adam D. Portnoy, who control CommonWealth.
Deal Professor: Ruling Highlights Unequal Treatment in Penalizing Corporate Wrongdoers A case involving the sale of the Rural/Metro Corporation shows how Delaware law helps directors avoid penalties for misconduct, writes Steven M. Davidoff.
MONDAY
A Crimean branch of Sberbank, which has had substantial foreign investment in recent years.
Foreign Investors in Russia Vital to Sanctions DebateMore than a quarter of a trillion dollars has flowed into the coffers of Russia Inc., part of a broad push by yield-hungry investors into emerging markets.
Shares of Micron jumped on the news that David Einhorn was amassing a position.
DealBook Column: Hedge Fund Spars With a Nameless Blogger The case by David Einhorn's firm against Seeking Alpha could be a watershed for confidential information being posted anonymously, writes Andrew Ross Sorkin.
Labor activists rallying for jobs and pensions in Detroit, which was countersued by the Financial Guaranty Insurance Company.
Bond Insurer Files Suit Against Detroit in Setback for Bankruptcy Plan The Financial Guaranty Insurance Company wants to be paid back for the $1.4 billion it claims it loaned Detroit's pension fund in 2005.
Matthias Müller, the chief executive of Porsche, left, and Martin Winterkorn, his counterpart at Volkswagen, Porsche's corporate parent.
Judge in Germany Dismisses Hedge Fund Suit Against Porsche Holding The decision was the latest in a series of court victories by Porsche Holding over suits filed by hedge funds that lost billions betting against Volkswagen shares.
SUNDAY
Telecommunications companies in Europe are looking to offer so-called bundled services like mobile, fixed-line, broadband and pay-TV offerings.
Vodafone Agrees to Acquire the Spanish Cable Operator Ono for $10 Billion The deal would give Vodafone, flush with cash after selling its Verizon Wireless stake, a way to go head-to-head against Telefónica in Spain.
Mikhail Fridman and his partner set up an investment vehicle with the proceeds of their sale of shares of TNK-BP, the Russian oil affiliate of the oil giant BP.
2 Oligarchs in $7 Billion Deal for a German Oil Company RWE said it had reached a preliminary agreement to sell its oil and natural gas subsidiary, RWE Dea, to the Russian billionaires Mikhail Fridman and German Khan for 5.1 billion euros.
For the latest updates, go to dealbook.nytimes.com »

WSJ | Most Actives Closing March 21, 2014.

Most Actives Closing
Most Active Stocks by Volume
4:47 pm ET 03/21/2014
NYSE
ISSUEVOLUMEPRICECHG% CHG
Bank of America (BAC)147,266,867$17.56-0.36-2.01
Pfizer (PFE)55,067,67032.180.270.85
General Electric (GE)51,438,08725.400.130.51
Regions Financial (RF)48,815,57911.09-0.21-1.86
AT&T (T)47,654,94034.300.210.62
Annaly Capital Management (NLY)37,383,47511.480.312.78
Verizon Communications (VZ)36,975,27146.91-0.30-0.64
Citigroup (C)36,804,66650.08-0.14-0.28
JPMorgan Chase (JPM)32,824,27460.170.060.10
Nokia ADS (NOK)32,653,2907.17-0.27-3.63
Oracle (ORCL)31,679,08437.50-0.87-2.27
Alcoa (AA)31,540,38212.010.100.84
Sprint (S)30,501,9599.05-0.05-0.55
Ford Motor (F)30,446,47315.47-0.08-0.51
Petroleo Brasileiro ADS (PBR)30,236,90211.590.020.17
Wells Fargo (WFC)30,202,00049.120.090.18
Vale ADS (VALE)28,174,62513.040.231.80
Xerox (XRX)26,288,69011.200.242.19
WPX Energy (WPX)25,815,86618.580.160.87
EMC (EMC)23,681,28227.980.270.97
General Motors (GM)23,538,77235.01-0.25-0.71
Advanced Micro Devices (AMD)23,230,3684.04-0.01-0.25
Exxon Mobil (XOM)22,748,59594.31-0.27-0.29
Johnson&Johnson (JNJ)22,646,97995.931.811.92
Morgan Stanley (MS)22,604,03432.60-0.19-0.58
 
Nasdaq
ISSUEVOLUMEPRICECHG% CHG
Cisco Systems (CSCO)83,839,606$21.64-0.19-0.87
Microsoft (MSFT)76,486,88340.16-0.17-0.42
Sirius XM Holdings (SIRI)63,132,4843.35-0.01-0.30
Symantec (SYMC)60,530,49618.20-2.71-12.94
PowerShares QQQ Trust Series 1 (QQQ)57,492,94389.00-1.08-1.20
Facebook Cl A (FB)54,017,00867.240.270.40
Intel (INTC)53,018,12525.17-0.25-1.00
Zynga (ZNGA)36,786,5424.95-0.13-2.56
Gilead Sciences (GILD)35,638,57072.07-3.46-4.57
Micron Technology (MU)30,889,30623.66-0.35-1.46
FuelCell Energy (FCEL)29,684,8112.570.166.64
American Realty Capital Properties (ARCP)29,596,77914.270.443.18
Qualcomm (QCOM)26,076,43078.190.090.12
Applied Materials (AMAT)24,729,38620.17-0.02-0.10
Comcast Cl A (CMCSA)22,999,44550.00-0.60-1.20
Texas Instruments (TXN)21,010,02047.150.200.43
Mondelez International Cl A (MDLZ)20,552,13934.13-0.13-0.38
Groupon (GRPN)18,355,1658.29-0.11-1.31
21st Century Fox Cl A (FOXA)18,061,72732.73-0.02-0.06
NII Holdings (NIHD)16,924,9961.300.2119.27
Sonus Networks (SONS)16,748,1793.53-0.11-2.89
BlackBerry (BBRY)16,485,0649.18-0.24-2.55
Keurig Green Mountain (GMCR)16,082,525112.00-3.40-2.95
Fifth Third Bancorp (FITB)15,762,03023.390.030.13
Yahoo! (YHOO)15,548,57637.940.170.45
 
NYSE Arca
ISSUEVOLUMEPRICECHG% CHG
SPDR S&P 500 ETF Trust (SPY)144,645,945$186.200.100.05
iShares MSCI Emerging Markets ETF (EEM)82,915,73238.980.240.62
Select Sector SPDR-Financial (XLF)65,145,86922.400.090.38
iShares MSCI Japan ETF (EWJ)62,614,87410.88-0.05-0.46
iShares China Large-Cap ETF (FXI)59,270,29633.950.952.88
iShares Russell 2000 ETF (IWM)44,110,423118.61-0.55-0.46
Barclays Bank iPath S&P 500 VIX Short Term Futures ETN (VXX)32,472,85744.280.300.68
iShares MSCI Brazil Capped ETF (EWZ)26,284,79341.670.190.46
Market Vectors ETF Trust Market Vectors Gold Miners (GDX)22,759,34625.520.050.20
Direxion Daily Small Cap Bear 3x Shares (TZA)20,768,30814.940.201.36
Vanguard FTSE Emerging Markets ETF (VWO)19,784,27938.650.230.60
Select Sector SPDR-Health Care (XLV)19,172,04658.18-0.87-1.47
iShares U.S. Real Estate ETF (IYR)18,480,10867.950.550.82
iShares MSCI EAFE ETF (EFA)16,722,97065.16-0.13-0.20
VelocityShares 3x Inverse Natural Gas ETN linked to the S&P GSCI Natural Gas Index Excess Return (DGAZ)14,098,0273.890.154.01
Select Sector SPDR-Utilities (XLU)13,576,67840.510.641.60
Select Sector SPDR-Energy (XLE)13,414,24687.060.660.77
Select Sector SPDR-Industrial (XLI)13,310,00151.650.230.45
ProShares UltraShort S&P500 (SDS)13,000,17028.620.210.74
Market Vectors Russia ETF Trust SBI (RSX)9,620,50522.310.221.00
Direxion Daily Financial Bear 3x Shares (FAZ)9,068,56519.290.010.05
iShares 20+ Year Treasury Bond ETF (TLT)8,874,197108.231.161.08
Select Sector SPDR-Technology (XLK)8,794,19136.31-0.03-0.07
iShares MSCI Taiwan ETF (EWT)8,687,21213.900.010.07
Select Sector SPDR-Materials (XLB)8,393,47247.37-0.01-0.02
 
Composite
ISSUEVOLUMEPRICECHG% CHG
Bank of America (BAC)146,726,383$17.56-0.36-2.01
SPDR S&P 500 ETF Trust (SPY)144,345,315186.200.100.05
Cisco Systems (CSCO)83,366,38921.64-0.19-0.87
iShares MSCI Emerging Markets ETF (EEM)82,915,69838.980.240.62
Microsoft (MSFT)75,946,71140.16-0.17-0.42
Select Sector SPDR-Financial (XLF)65,145,69022.400.090.38
Sirius XM Holdings (SIRI)62,949,3203.35-0.01-0.30
iShares MSCI Japan ETF (EWJ)62,614,86110.88-0.05-0.46
Symantec (SYMC)60,519,02018.20-2.71-12.94
iShares China Large-Cap ETF (FXI)59,270,29633.950.952.88
PowerShares QQQ Trust Series 1 (QQQ)57,492,94389.00-1.08-1.20
Facebook Cl A (FB)53,806,95167.240.270.40
Pfizer (PFE)53,280,29832.180.270.85
Plug Power (PLUG)52,304,1585.94-0.03-0.50
Intel (INTC)52,267,01525.17-0.25-1.00
General Electric (GE)51,263,52825.400.130.51
Regions Financial (RF)48,774,01811.09-0.21-1.86
AT&T (T)47,622,48834.300.210.62
iShares Russell 2000 ETF (IWM)44,110,388118.61-0.55-0.46
IsoRay (ISR)42,070,8422.42-0.88-26.67
Annaly Capital Management (NLY)37,154,35511.480.312.78
Zynga (ZNGA)36,786,5424.95-0.13-2.56
Citigroup (C)36,713,07350.08-0.14-0.28
Verizon Communications (VZ)36,693,13446.91-0.30-0.64
Gilead Sciences (GILD)35,393,61072.07-3.46-4.57
 
See All Most Actives
 
Footnotes
Includes common, closed end funds, ETFs, ETNs and REITS
x - stock is trading ex-dividend
Source: WSJ Market Data Group