Articles By J.J. McGrath

From Global Markets May 26, 2012

US Stocks Close Mostly Up Week With Mostly Down Day: Daily Markets Wrap

U.S. equities closed a moderately green week with a moderately red day on Friday, as the Dow Jones Industrial Average fell 74.92 points, or 0.60 percent, to 12,454.83, the S&P 500 index dropped 2.86 points, or 0.22 percent, to 1,317.82, and the Nasdaq Composite index dipped 1.85 points, or 0.07 percent, to 2,837.53.

From Companies May 21, 2012

Big Deal For Alibaba,Yahoo: The $7.1B Is Only Half Of It

China's Alibaba Group and Yahoo confirmed Sunday night they have reached an agreement that will allow the two online media giants to eventually go their own ways. Alibaba initially will pay an estimated $7.1 billion in cash and preferred stock to Yahoo.

From Companies May 21, 2012

Nasdaq Admits Design Flaws Led To Glitches In Facebook Trading

Nasdaq is "humbly embarrassed" by the technical issues that plagued trading in shares of Facebook Inc. (Nasdaq: FB) on Friday, Robert Greifeld, CEO of Nasdaq OMX Group Inc. (Nasdaq: NDAQ), told reporters on a conference call on Sunday.

From Politics & Policy May 20, 2012

Chen Guangcheng: From Legal Activist In China To Legal Fellow In US

Capping an extraordinarily eventful four weeks, Chen Guangcheng -- a blind attorney known as the Barefoot Lawyer -- flew to the U.S. from China on Saturday. Chen began the day in a Beijing hospital and ended it in a New York apartment building, according to multiple media reports.

From Sports May 20, 2012

Preakness Winner I'll Have Another One Jewel Shy Of Triple Crown

By winning first the Kentucky Derby on May 5 and then the Preakness Stakes on Saturday, I'll Have Another is on pace to win the coveted U.S. Triple Crown of Thoroughbred Racing this year.

From Companies May 14, 2012

Concho To Pay $1B For Oil And Gas Assets In Permian Basin

Concho Resources Inc. (NYSE: CXO) has agreed to acquire all the crude-oil and natural-gas assets of the Three Rivers Operating Co. and certain affiliated entities for $1 billion in cash, Concho announced Sunday.

From Politics & Policy May 14, 2012

'Greece' Is The Word In The Risk-On/Risk-Off Trade

Financial-market participants around the world have reasons for both optimism and pessimism at the dawn of this trading week. But nobody appears to care, really. Unless the reason centers on Greece -- and, by implication, the future of the euro zone.

From Politics & Policy May 14, 2012

California Budget Gap Widens To $16B From $9B [TRANSCRIPT, VIDEO]

The estimate of California's budget deficit in its next fiscal year has ballooned to $16 billion from $9 billion, state Gov. Jerry Brown divulged in a YouTube video posted this weekend. Brown said the widening gap was caused by changing conditions on both the revenue and the cost sides of the ledger.

From Economy May 13, 2012

People's Bank of China Cuts Reserve Requirement Ratio By 0.5%

China's economic growth has been comparatively anemic lately, so the People's Bank of China will give it a transfusion by cutting the banks' reserve requirement ratio by 0.5 percentage point (50 basis points) on May 18, according to the country's official Xinhua News Agency.

From Politics & Policy May 13, 2012

Occupy London Demonstrators Arrested Outside Bank Of England

Arrests of Occupy London demonstrators were made by City of London police at a protest outside the Bank of England on Saturday, but representatives of the two sides gave BBC News conflicting reports on the number of them.