Microsoft Co-Founder Paul Allen Sues Several Tech Companies

mark.castillo — Sat, 28 Aug 2010 20:12:22 +0000

In a complaint filed in the Western District of Washington, Allen’s Interval Licensing LLC alleges that AOL, Apple, eBay, privately held Facebook, Google, Netflix, Office Depot,Office Max, Staples, Yahoo and Google-owned YouTube are all illegally in use of e-commerce technologies patented by a technology research firm Allen co-founded in Silicon Valley more than twenty years ago. -CNBC

"We believe this suit is completely without merit and we will fight it vigorously,'' said Facebook spokesman Andrew Noyes.

Existing Home Sales Hit New Lows

mark.castillo — Wed, 25 Aug 2010 00:00:32 +0000

Sales of existing houses plunged by a record 27 percent in July as the effects of a government tax credit waned, showing a lack of jobs threatens to undermine the U.S. economic recovery.

Article:http://www.bloomberg.com/news/2010-08-24/sales-of-u-s-existing-homes-drop-more-than-estimated-to-3-83-million-rate.html

Sales of existing homes plummeted 27.2 percent to a 3.83 million annual rate, the National Association of Realtors said.

http://www.bloomberg.com/video/62409982/

10-Year Treasury Yield Hits 16 Month Low

mark.castillo — Sat, 14 Aug 2010 18:06:24 +0000

The yield on the 10-year note decreased 15 basis points to 2.67 percent, the lowest level in 16 months.

Bloomberg

The Treasury sold $34 billion of three-year notes at a record-low yield of 0.844 percent Aug. 10, $24 billion of 10- year notes the next day at 2.730 percent, the lowest yield since January 2009, and $16 billion of 30-year bonds on Aug. 12 at 3.954 percent, the lowest yield since March 2009. -Bloomberg

“Stub Quotes”

mark.castillo — Wed, 04 Aug 2010 19:35:13 +0000

Paddy Hirsch explains new SEC rules on “Stub Quotes” and what they mean for the market-makers.

Housing Deals Puts Spotlight on Deutsche Bank

mark.castillo — Tue, 03 Aug 2010 07:05:12 +0000

Full Article
Federal probes of the collapsed mortgage-bond boom are shedding light on how Wall Street firms sometimes created securities and sold them to one set of investors, while advising others to bet against them.-WSJ

Deutsche says that helping investors bet either way—either for or against an asset—is part of doing business for a securities firm. -WSJ

U.S. Economic Growth Below Forecast

mark.castillo — Fri, 30 Jul 2010 16:30:23 +0000

Gross domestic product grew at a 2.4 percent annual pace, less than forecast, after a 3.7 percent first-quarter gain that was larger than previously estimated, according to Commerce Department data issued today in Washington. -Bloomberg

The U.S. economy slowed in the second quarter as a scarcity of jobs eroded consumer spending, leaving the rebound dependent on a surge in business investment. -Bloomberg

“Shadow Banking”

mark.castillo — Sat, 24 Jul 2010 17:57:33 +0000

A brief explanation of the “shadow banking” system.

European Bank Stress Tests

mark.castillo — Sat, 24 Jul 2010 06:32:26 +0000

http://www.nytimes.com/2010/07/24/business/global/24stress.html?src=me

A vast majority of European banks passed a round of stress tests meant to measure the likelihood that they could survive an economic or market calamity, regulators said on Friday. -NY Times