Twitter doesn't have to grow into Facebook for the stock to pay off, Robert Peck says. Shares of Twitter, which are down 50% this year and recently fell below $30 for the first time since last November’s IPO, were up more than 3% at $33.06 before the opening bell Monday. More...
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Big banks extend dominance of forex league table The biggest banks have reinforced their dominance of the $5.3tn a day foreign exchange market in the past year, according to a closely watched industry survey. The combined market share of the top five banks in currency dealing has risen to 60.6 per cent from last year’s 57.4 per cent in Euromoney’s annual poll. It is the first time the combined share of the top five has risen above 60 per cent since 2009. The ...
Chuck Berry, Peter Sellars to receive Polar Music Prizes The Polar Music Prize, music's equivalent of the Nobel Prize, will go to two Americans this year: rock 'n' roll icon Chuck Berry and theater/opera director Peter Sellars. Both laureates will be presented with the awards by King Carl XVI of Sweden at a gala Aug. 26 in Stockholm. The world's most prestigious music prize was founded 25 years ago by Stig "Stikkan" Anderson, ABBA's publisher, lyricist and ...
As Alibaba Prepares for IPO, Tech Stocks Retreat It's a tough time for a tech debut. As e-commerce giant Alibaba gets ready for a blockbuster stock sale in the next few months, technology shares are retreating. For two years, investors bid up biotechnology and internet companies, enticed by their strong growth prospects in an otherwise weak U.S. recovery. But they have sold off those stocks since late February, realizing they can find better value elsewhere. So-called ...
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