Articles By J.J. McGrath
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.