Ipshita Dutta

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S&P amazingly says no one should believe its ratings are independent and objective

Today US rating agency Standard & Poor’s told a court of law that it figured every reasonable investor would know its promise to objectively rate securities was mere “puffery,” like a used-car salesman who tells you the last owner of your car was an old lady who only drove it on Sundays.<p>The US …

Stocks post fourth straight day of gains

Stocks moved higher Tuesday as Wall Street extended prior-session gains to a fourth straight day.<p>The Standard & Poor's 500 index is now just 1% below its May 21 record high of 1,669.16 as it gained 11.86, or 0.7%, to close Tuesday at 1,652.32. The Dow Jones industrial average rose 75.65 points, or …

Hedge Fund Launches Plan B In Bid To Profit From Fannie And Freddie

In recent months big and powerful hedge funds have descended on Washington, lobbying for Congress to revive Fannie Mae and Freddie Mac, the government-sponsored enterprises that have been operating out of conservatorship since the financial crisis. These hedge funds had purchased preferred shares …

Barnes & Noble CEO Lynch Out After Nook Woes Deepen

Another dreary chapter for Barnes & Noble came to a close today with the resignation of chief executive William Lynch, the man brought on board to build the company’s tablet business.<p>At the same time that Barnes & Noble announced Lynch’s depature, founder and chairman Leonard Riggio said the …

Stephen Harper needs to get serious about Senate policy

Stephen Harper's policy on the Senate, giving up on reform, wasn't popular, and didn't provide enough distance from scandals in the Red Chamber. So he has evidently decided he will appeal to public sentiment by announcing he will hold the Constitution in abeyance, declining to appoint senators.<p>Mr. …

High five!

Investors often complain about the government getting in their way. But they <i>never</i> complain about Central Banks getting in their way. Wait and see what happens when Central Banks actually <i>do</i> get out of the markets way and "taper off" its stimulus. To get a look at the markets <i>sans-stimuli,</i> all you …

Buffett Donates $2.6 Billion In Berkshire Hathaway Shares to Gates Foundation, Other Charities

Warren Buffett, one of the world’s most benevolent billionaires, just keeps on giving. This time he has donated approximately $2.6 billion to the Bill and Melinda Gates Foundation and four other charities.<p>In accordance with his annual charitable pledge, Berkshire Hathaway announced Monday that its …

Why Isn't T-Mobile's Cheaper iPhone Saving the Company?

This article is from the archive of our partner .<p>As of April this year T-Mobile offered the best deal on the iPhone for just $99 up front and no …

International Monetary Fund upgrades UK growth forecast to 0.9%

Britain is on course to grow at a faster pace than expected this year, the International Monetary Fund (IMF) said on Tuesday, despite signalling …

Marijuana company surprises investors with bought deal announcement

Marijuana-producing Canopy Growth Corp. announced on Friday that it has raised $12.5-million in an equity bought deal, led by Dundee Securities Corp.<p>The stock sale was done at $2.05 a share, a discount of 15.5 per cent compared with where Canopy shares closed on Thursday.<p>The announcement of a …

UK lawmakers ask Murdoch to reappear for questions

LONDON (AP) — British lawmakers will ask Rupert Murdoch to return to London to answer further questions about wrongdoing at his U.K. newspapers in light of a secret recording that emerged earlier this month, a senior parliamentarian said Tuesday.<p>The recording — obtained by the ExaroNews journalism …

The strangest SEC filing you’ll ever read has a backstory you might not believe

When he started Left Behind Games in 2002, Troy Lyndon—a one-time boy genius who with his former company became Inc.’s entrepreneur of the year at the age of 28—was sure his apocalypse-themed video games would make him millions even as they brought the gospel of Christ to gamers the world over. …

There's A Crazy Amount Of Gold Moving On The Shanghai Gold Exchange

I recently discussed how traders were stampeding out of gold as a result of rising interest rates and the threat of evaporating monetary fluid that was lubricating markets. Hovering around $1,200 at the beginning of July, the gold price has completely disconnected from the precious metal's …

Gigaom | Barnes & Noble throws out its CEO, but that won’t save the company

Advertisement<p>Barnes & Noble (s BKS) announced late Monday afternoon that its CEO, William Lynch, is leaving after three years in the role. While …

Why The US Jobs Market Is Finally Heating Up

For years, the post-financial crisis economic recovery was a jobless one as Americans struggled to find work — and as we point out after every non-farm payrolls announcement, the U.S. is still not where it needs to be.<p>Today, Capital Economics' Paul Dales declares that era over. We have officially …

Libor interest rate to be controlled by NYSE Euronext

<b>The owner of the New York Stock Exchange is set to take control of a key scandal-hit bank interest rate.</b><p>NYSE Euronext has won the contract for setting the London Inter-bank Offered Rate (Libor), a government-backed committee announced.<p>Libor is used to set trillions of dollars of financial contracts.<p>…