Facebook Sued by Shareholder Over Record Stock Plunge

Days after Facebook’s stock suffered the largest drop in Wall Street history, a shareholder sued the company, accusing the social media network of making misleading statements about its user numbers and operations. The plaintiff, James Kacouris, filed the lawsuit Friday seeking class-action status and to recover damages. Kacouris alleged that Facebook and its chief executive, Mark Zuckerberg, violated federal securities … Read more

Zuckerberg Loses More Than $15 Billion in Record Facebook Fall

Facebook Chief Executive Mark Zuckerberg’s fortune took a more than $15 billion (roughly Rs. 1.03 lakh crores) hit on Thursday, as the social media company suffered the biggest one-day wipeout in US stock market history a day after executives forecast years of lower profit margins. At least 16 brokerages cut their price targets on Facebook after Chief Financial Officer David Wehner … Read more

Mastercard Says Retail Sales Grew 4.9% During Record Holiday Season

The largest year-over-year holiday sales increase since 2011 was just recorded by the Mastercard SpendingPulse report. The 4.9 percent increase comes at a time when terms such as “Retail Apocalypse” are in the headlines forecasting the demise of retailers. 2017 Retail Holiday Sales Results According to Mastercard, customer confidence is one of the biggest drivers. … Read more

EU Said to Consider Record Fine as Panel Checks Google Android Case

EU antitrust regulators are weighing another record fine against Google over its Android mobile operating system and have set up a panel of experts to give a second opinion on the case, two people familiar with the matter said. Assuming the panel agrees with the initial case team’s conclusions, it could pave the way for the European … Read more

ETFs see record number of funds shut down: ‘It’s a sign of health’

Exchange-traded products kept growing in 2016, both in popularity and in the money investors were willing to commit. But with growth comes growing pains, and the year featured one telling sign of the times: A record number of fund closures. In all, 128 exchange-traded notes or funds shuttered during the year, a number that easily … Read more

Thank one group of companies for the stock market’s climb to record highs

Analyst: Banks will continue to outpeform until end of next year  Thursday, 8 Dec 2016 | 1:35 PM ET | 02:18 The stock market’s dramatic surge to record highs can largely be attributed to the leap in bank stocks. Without the sector, the S&P 500 would not have closed at a record Thursday, but would still … Read more

In Record US Military Aid, Israel To Get $38 Billion

WASHINGTON: HIGHLIGHTS Deal calls for $3.8 billion a year in aid to Israel that expires in 2018 It allows Israel to avoid uncertainties surrounding next US president For first time, deal will incorporate money for Israeli missile defence The United States and Israel have agreed on a record $38 billion package of US military aid … Read more

Asian Paints shares hit record high after stellar June quarter results

Shares of Asian Paints jumped over 8 per cent to a record high in trade on Thursday after India’s largest paint maker reported an 18.46 per cent increase in consolidated net profit at Rs 552.56 crore in the June quarter. The stock hit an intraday high of Rs 1152.65, up 8.55 per cent, its biggest … Read more

Record: Specifications leak out for HTC-built ‘Marlin’ Nexus cellphone

The trendy fish tale related to Nexus devices tells us about a giant Marlin that can quickly rule the Android sea. A brand new Report offers Specifications approximately what need to be the bigger of the approachingpair of Nexus telephones to be built in partnership with HTC. Advertising Quad-core, Qualcomm processor (specific chip not certain) … Read more

he tech business is a harsh environment to survive it and even major players, such as Apple, often go through rough patches in terms of sales. A new report by Digitimes Research, suggests that Cupertino’s line of tablets, the iPad family, is heading toward a huge sales decline in the first three months of 2016. … Read more