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Japan Shares Surge as Central Bank Pumps Further $43B Into Market
By not in system - AOL NewsTOKYO -- Japanese shares rebounded sharply Wednesday, recovering some of the massive losses sustained the last two days following a devastating earthquake and tsunami. The Nikkei rose 547.86 points, or 6.4 percent, to 9,153.01. The index closed at its lowest level in almost two years Tuesday after shedding more than 1,600 points, or 16 percent, in two days. The plunge prompted Tokyo Stock Exchange President Atsushi Saito to release a statement late Tuesday urging for calm. He noted that the foreign media remained impressed by the potential power of the Japanese economy, and that foreign ...
Source: Hackers Penetrate Nasdaq Computer Network
By not in system - AOL NewsWASHINGTON - A federal government official tells The Associated Press that investigators are trying to identify computer hackers who have repeatedly broken into the network of the company that runs the Nasdaq Stock Market. The official says that the hackers haven't compromised the exchange's trading platform and that investigators are looking into a range of possible motives for the cyberattacks - from financial gain to a national security threat. The official spoke on condition of anonymity because the inquiry by the FBI and Secret Service is continuing. The official says the penetrations ...
Opinion: The SEC's Misguided 'Insider' Trading Crackdown
By Marty Robins - AOL News(Dec. 2) -- With unemployment benefits about to run out for many and Bush tax cuts about to expire for all, putting the brakes on the government's overzealous enforcement of insider trading rules would hardly seem like an economic priority for Congress. But it should be. And here's why. In recent months, the Securities and Exchange Commission has been cracking down on insider trading, but doing it in a way that expands the definition of insider trading so much that it's threatening to undermine confidence and participation in financial markets at the worst possible time. Rising investment ...
Big New York Insider Trading Probe Spawns Another
By not in system - AOL NewsNEW YORK (Nov.26) -- An insider trading case last year that federal authorities said was the biggest ever is providing a recipe for another case that may be even bigger. The current case is largely an extension of work that led to the arrest of Galleon Group founder Raj Rajaratnam in October 2009. The Galleon investigation marked the first time that federal authorities used wiretaps in an insider trading probe. Similarly, wiretaps led to the first arrest in the latest case. Don Ching Trang Chu, a consulting firm executive, was arrested Wednesday for allegedly providing private information ...
Hindenburg Omen Crash Fears Linger Despite Recent Stock Market Rallies
By Carl Franzen - AOL News(Oct. 5) -- We should all be in real trouble right now, according to the Hindenburg Omen (HO), the esoteric technical analysis indicator that was tripped in August, spooking some traders and many, many more financial blogs and general-interest media into thinking that another stock market crash was imminent. That's because, according to blind mathematician and HO creator Jim Miekka (who already exited the market promptly after the second confirmed HO sighting back in August, since of course, a cluster of omens is much worse than just one), the stock market should have fallen off by as much ...
French Trader Gets 3 Years in Prison After $6.7B Loss
By Lauren Frayer - AOL News(Oct. 5) -- The young French stock trader whose risky, unauthorized deals lost his bank nearly $7 billion on the eve of the Great Recession will spend the next three years behind bars after being convicted of forgery and breach of trust. A Paris court handed Jerome Kerviel a five-year prison sentence today, with the first two years suspended. He'll also have to repay a huge sum -- about $6.7 billion -- to his bank, Societe Generale, which was lost because of his risky trades. And he's barred for life from ever working again in the financial industry. Kerviel, now 33, was found guilty of ...
Six Health Care Changes That Go Into Effect Soon
By David Knowles - AOL News
(Sept. 22) -- The wait is over. A new era of health care coverage in America is set to begin this week, when some provisions of the Patient Protection and Affordable Care Act officially begin to be enforced by law. Many of the changes will be phased in over the next several years, but the debate over whether the legislation is good for the country continues to rage on, especially as the November midterm elections draw near. President Barack Obama spent much of Wednesday touting the legislation's new "Patient's Bill of Rights," and, via the White House website, attempted to combat what the ...
What Hindenburg Omen? Stocks Close at 4-Month High
By Carl Franzen - AOL News
(Sept. 20) -- Disaster averted? At least for now, some traders are breathing a sigh of relief. The stock market closed at a four-month high today following three straight weeks of gains, The Wall Street Journal reports. This just over a month after the first sighting of the Hindenburg Omen (HO) -- a doomsaying technical analysis indicator developed by blind mathematician Jim Miekka to pick up on the signs of a forthcoming stock market crash. As the Journal reports: The Dow Jones Industrial Average rose 145.77 points, or 1.4%, to 10753.6, its highest level since May 13. Already this month, ...
Opinion: White House Should Retract Insurance Industry Threats
By Marty Robins - AOL News(Sept. 17) -- Everybody loves to hate health insurance companies. Who doesn't have their favorite story about arbitrarily denied claims and, especially these days, excessive premiums? So why would anyone care about their free-speech rights? You should, if you care about your own free-speech rights. The issue came up when Health and Human Services Secretary Kathleen Sebelius issued a stern warning to the insurance industry in response to certain companies supposedly advising policy-holders that premiums would increase because of the enactment of Obamacare. In her letter, Sebelius wrote: ...
TheStreet Reader Survey Shows Why Hindenburg Omen Won't Go Away
By Carl Franzen - AOL News(Sept. 7) -- The stock market has certainly been a hairy place lately, rallying slightly last week, only to unexpectedly diverge from the thriving mergers and acquisitions market and open low this morning. But is the ship really about to sink, as the Hindenburg Omen portends? Quick refresher: The Hindenburg Omen, or "HO" for short, is a tool created by blind former physics teacher Jim Miekka back in 1995 to monitor several intricate market indicators for signs of a collapse. Until recently, it languished in obscurity, but since it has been sighted arguably twice in the past 30 days (initially ...
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