Stocks News

A former employee for UBS investment bank fed his friends inside tips about the 2006 sale of Albertson's Inc. grocery store chain and other deals, allowing them to gain more than $7 million from illicit stock trades, authorities said Thursday.

The FBI arrested two of the traders, Joseph Contorinis _ a former hedge fund manager for New York-based investment bank Jefferies & Company Inc. _ and Michael Koulouroudis early Thursday in New York. A third defendant, George Paparrizos, was picked up in Foster City, Calif.

The co-executives of BlackBerry-maker Research in Motion will pay the brunt of about $77 million Canadian (US$62 million) in fines and restitution to settle allegations they participated in a practice known as stock option backdating.

The settlement Thursday is one of the biggest in the history of the Ontario Securities Commission, and marked a rare occasion where some of the country's most prominent executives appeared before the commission for wrongdoing.

Under the settlement, Jim Balsillie and Mike Lazaridis, co-CEOs of RIM, as well as former chief financial officer Dennis Kavelman will contribute the bulk of the fines.

Live! Fro the NYSE Trading Floor: Interview with David Tice of Federated Investors

Burger King Holdings Inc., the home of the Whopper, said Thursday that its profit dropped 10 percent in its fiscal second quarter as foreign currencies yielded fewer dollars.

MasterCard Inc. reported a fourth-quarter profit Thursday that easily beat analysts expectations as it pared expenses and customers continued to move toward paying bills with debit and credit cards, instead of ...

Tokyo stocks opened lower Thursday, failing to extend gains from the previous day, as investor sentiment was dampened by bleak U.S. corporate earnings, which dragged down Wall Street overnight.

The European Central Bank halted its campaign of rate cuts on Thursday, leaving its benchmark refinancing rate at 2 percent, while the Bank of England cut by a half-point to a record low 1 percent as it combats a deepening recession brought on by the world financial crisis.

The decision by both banks was widely expected but marked decidedly different approaches to the global economic woes that have sent markets plunging and led to thousands of layoffs, reduced worker hours and factory shutdowns.

Wall Street is now worrying about the companies usually seen as safe havens. After an early rally Wednesday, investors succumbed to their concerns about disappointing earnings at Kraft Foods and the market ...

Deutsche Bank has announced an annual loss for the first time in its post-second world war reform history.

Asian shares fell on Thursday reversing two previous sessions of gains on fears about how far US consumers will cut spending, while the euro steadied and sterling dipped ahead of meetings by their respective ...