SEC charges Dallas Mavericks owner Mark Cuban with insider trading
Nov 18 2008
Marcy Gordon, The Associated Press November 17, 2008 - 10:34 p.m. WASHINGTON - Federal regulators in the United States charged Dallas Mavericks owner Mark Cuban on Monday with insider trading for allegedly using confidential information on a stock sale of a Quebec company to avoid more than US$750,000 in losses. Cuban disputed the U.S. Securities and Exchange Commission's allegations and said he would contest them. In a civil lawsuit filed in federal court in Dallas, the SEC alleged that in June 2004, Cuban was invited to get in in succession the coming reserve offering by Mamma.com Inc. after he agreed to stay the information private. ...
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Shares of Theravance rise on FDA review of antibiotic, despite agency’s safety concerns
Nov 18 2008
Matthew Perrone November 17, 2008 - 7:56 p.m. WASHINGTON (AP) - Shares of drugmaker Theravance surged Monday on the release of a federal review of the company's experimental antibiotic, despite concerns about the product's risks to pregnant women. Theravance shares rose 42 cents, or 6.8 percent, to $6.58. Cowen Co. analyst Rachel McMinn wrote in a research note the Food and Drug Administration's review contains "nothing shocking," contemptuous opposition highlighting potential safety issues for kidney-failure patients and pregnant women. San Francisco-based Theravance has asked the FDA to approve telavancin for hard-to-treat skin infections caused by gram-positive bacteria, including staph ...
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Citigroup to shed another 53,000 jobs in coming quarters
Nov 18 2008
Madlen Read, The Associated Press November 17, 2008 - 8:25 p.m. NEW YORK - Citigroup Inc. is shedding approximately 53,000 other employees in the coming quarters as the banking giant struggles to unremitted itself after suffering massive losses from deteriorating debt. The New York-based bank, which has already reduced its assets by about 20 per cent since the first quarter of the year, also plans to trim expenses by 19 per cent in 2009 from third-quarter levels, to US$50 billion. The plans, instructed on the company's Web site, were discussed by CEO Vikram Pandit at the company's town hall meeting in New York Monday with employees. ...
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Editorial: OK, let’s talk NAFTA
Nov 18 2008
Editorial: OK, let's talk NAFTA <!-- Editorial: OK, let's talk NAFTA NAFTA, Free trade, Barack Obama, John McCain 20081110 Barack Obama, if he’s president, would like to renegotiate NAFTA. Perhaps Canada should welcome the chance. /after_hours/opinions/ --> Now that Canadian voters have opted for more of the same, we turn to the more riveting election down south. What was once a neck-and-neck horse race is turning into a rout. At press time, Democratic candidate Barack Obama appears certain to be the next president, as the campaign of Republican John McCain seems to have entered self-destruct mode. Yet for all his fumbles, McCain has got ...
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