Google ended 2008 with 63.5% market share of all US search queries, but we all know the law of large numbers. The larger Google gets, the harder it is to make gains. But TechCrunch points out that market share stats mask the absolute growth in searches ha
The stock market’s recent winning streak came to a screeching halt Thursday, with the Dow falling 226 points, or 2.7% while the S&P and Nasdaq shed 3.3% and 3.2%, respectively.While the market doesn’t move in a logical fashion on a day-to-day basis, s
From Silicon Alley Insider, Jan. 29, 2009: Amazon (AMZN) released earnings and hit a home run. Revenue guidance strong, but operating income guidance low. Shares up 7% before the call.Q4 Revenue: $6.70 Billion vs. $6.44 billion consensus.Q4 EPS: $0.52 vs.
The cataclysm on Wall Street did not stop New York City-based employees from collecting $18.4 billion in bonuses for 2008. Sure, that pool is down 44% from the prior year but still represents the sixth-largest bonus haul on record, acco
From paidContent.org, Jan. 29, 2009: The theory goes that as we all stay at home during a recession, we buy more video games. But it’s not turning out like that as both Sony and Nintendo report declining sales figures and lowered forecasts for games
The era of bipartisanship in Washington appears over before it ever began. On Wednesday, the House passed Barack Obama’s $819 billion fiscal stimulus package, as expected. Unexpectedly, the bill passed with nary a single Republican vote
Stocks slipped early Thursday as traders reevaluated the rationale behind the market’s longest winning streak since late November. Specifically, traders questioned whether financial stocks can continue to lead the market, as has been the case in recent da
From Silicon Alley Insider, Jan. 29, 2009:After Yahoo’s earnings on Tuesday (YHOO), we repeated our usual refrain: Yahoo’s search revenue is growing, but Yahoo is still losing share of search queries, and queries are the real long-term value driver.
JPMorgan Chase & Co has “plenty of capital” and wants governments to stop talking about nationalizing banks.
“JPMorgan would be fine if we stopped talking about (the) damn nationalisation of banks … we’ve got plenty of capital,” Chief Executive Jamie Dimon said at the annual meeting of the World Economic Forum in Davos, Switzerland.
Underlining the bank’s confidence, Dimon said JP Morgan had lent $150 billion in the last 90 days including $50 billion in the interbank market, also to European and British banks, but added: “It’s scary because at the end of the day you have to survive.”
“I’m hoping by the end of the year we’re coming out of the crisis,” he told journalists.
Dimon admitted bankers had done “some really stupid things” but he also hit out at policy makers and regulators, adding that the Basel II capital rules has flaws and needed to be adjusted.
“I haven’t yet seen people get all the right people in a room, close the damn door and come out with a solution,” he said.
The U.S. and other countries are considering setting up a so-called “bad bank” to mop up the toxic assets of stricken lenders. It would take billions of dollars of the worst assets off banks’ balance sheets.
Dimon welcomed the idea: “It’s all in the execution. If it’s executed well, set up properly, it would be good.”
DEALS OF THE DAY:
** South Korea denied a report it would offer for sale stakes in chipmaker Hynix Semiconductor and 17 other companies via international auction, but confirmed plans to attract investment into state-run assets.
** Lloyds Banking Group is gearing up to consider offers for some of its life assurance assets as it tries to strengthen its balance sheet, the Financial Times reported.
** Hospital chain Fortis Healthcare Ltd said it has formed a joined venture with Mauritius-based CIEL group to acquire a controlling stake in Clinique Darne, Mauritius’ largest private hospital. Financial details were not disclosed.
** Credit Suisse has proposed disbanding an asset management joint venture formed with South Korea’s No. 2 financial holding group, Woori Finance Holdings, Woori said.
** Consumer electronics company Polaroid Holding Co said it has agreed to sell its assets including the Polaroid name and brand to a private equity firm based in Luxembourg.
** The German government held constructive talks with German ball-bearings maker Schaeffler and its partner Continental AG late on Wednesday, the Economy Minister said early on Thursday.
** Media technology group Thomson SA said it will explore with its main creditors and potential investors solutions to shore up its balance sheet as it warned it was likely to breach one of its debt covenants.
Typically this is a dead week for Silicon Valley buzz as most of the luminaries take off to hob-nob with Bill Gates and Angelina Jolie at the World Economic Forum in Davos, Switzerland. So perhaps that’s the reason why one story is dominating every conver
Updated from 12:48 p.m. ETUpdate: The Fed kept its key lending rate in the 0%-0.25% range at Wednesday’s policy meeting and declared ”economic conditions are likely to warrant exceptionally low levels of the
The House is expected to approve Barack Obama’s now nearly $900 billion stimulus bill today after the President yielded some points to the minority after a meeting with Congressional Republicans yesterday, including: $69 billion to prevent the Alternative