Tag: Wall StreetWall Street
The US stock market slowly returned to life on Wednesday after two days in the dark, in the wake of the massive storm Sandy that caused the market's first weather-related two-day closure since the late 19th century.
Stock markets, shuttered for two days by Hurricane Sandy’s punch ashore, plan to reopen Wednesday. The New York Stock Exchange’s parent company, NYSE Euronext, said trading would commence as usual with a 9:30 a.m. opening bell.
Global stocks and the Euro rallied on Wednesday after the world's leading central banks agreed to cut the cost for European banks to borrow much-needed dollars.
New York police prevented protesters from shutting down Wall Street, arresting at least 177 people in repeated clashes with an Occupy Wall Street rally that grew to several thousand strong.
Ex-Goldman Sachs director Rajat Gupta has turned himself in to the FBI and pleaded not guilty in court to securities fraud before being freed on a 10 million dollars bail.
Anti-Wall Street protesters vowed to keep up their fight on Sunday despite the arrests of more than 700 people the previous day for blocking traffic lanes on the Brooklyn Bridge in an unauthorized protest.
Wall Street dropped on worries about a possible downgrade of the United States' top credit rating and signs of economic weakness even as the US Congress passed on Tuesday a bill to avoid a debt default.
US exchanges Nasdaq and ICE have mounted a 11.3 billion US dollars bid for NYSE Euronext, topping a previous offer from Deutsche Boerse. The bid compares with Deutsche Boerse's offer of 10.2bn.
United States Senate has given final approval to the biggest overhaul of US financial regulation in decades. The reforms are intended to avert a repeat of the 2008 crisis that brought the world economy to the brink of collapse.
US President Barack Obama has attacked critics of his banking reforms in a speech which warned that without change the financial crisis will be repeated. Reckless practices and financial firms that acted like “bandits” should never be allowed to operate again, he said.