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BUSINESS
June 16, 2010 | By Walter Hamilton and Tom Petruno, Los Angeles Times
The threat of a reduction in the dividend paid by energy giant BP is bringing up bad memories for investors who have suffered similar cuts by other once-reliable companies in the last decade. Under pressure from the Obama administration to show it can foot the bill for the oil spill cleanup in the Gulf of Mexico, BP is contemplating slashing or even suspending the $10.5 billion a year it currently distributes to its shareholders. A decision could come Wednesday after company executives meet with the president.
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BUSINESS
December 31, 2012 | By Andrew Tangel
NEW YORK -- Stocks were mixed at the start of the last trading day of 2012, as investors awaited word on whether President Obama and Congress would reach a deal to avert a fiscal crisis.  The Dow Jones industrial average was down 7 points, or 0.1%, to 12,931 shortly after the opening bell. The broader Standard & Poor's 500 index was up 4 points, or 0.3%, to 1,406. The technology-heavy Nasdaq gained 18 points, or 0.6%, to 2,979. The Dow took a sharp late-day dive Friday as negotiations between the president and congressional leaders hit a snag.
BUSINESS
April 24, 2012 | Bloomberg News
Groupon Inc. is seeking to add at least two directors to its board in a bid to regain investor confidence after a restatement of revenue last month, two people familiar with the matter said. The largest provider of online daily deals aims to recruit a new director who could eventually lead its audit committee, said one of the people, who asked not to be named because the plan is private. Potential candidates include chief financial officers at publicly traded companies, the person said.
BUSINESS
October 21, 2009 | Tom Petruno
The municipal bond market has stabilized in recent days after a steep, two-week sell-off. A heavy supply of new bonds for sale nationwide this week will show whether tax-free yields have reached levels high enough to lure investors back. On Tuesday, some large muni bond offerings were scaled back, suggesting that investors remained leery. Cash poured into muni bonds in August and September as many investors rushed to lock in yields, fed up with near-zero returns on money market mutual funds and other short-term accounts.
BUSINESS
May 11, 2012 | By Andrew Tangel
NEW YORK - Investors are selling off shares of major U.S. banks in midday trading on Wall Street, following news of JPMorgan Chase & Co.'s stunning $2-billion trading loss. While major indexes were initially down in early trading, all had turned positive three hours after the opening bell. The Dow Jones industrial average was up 42 points, or 0.3%, to 12,897. The Nasdaq was up 19 points, or 0.7%, to 2,953. JPMorgan's stock, however, was down sharply - losing $2.82, or 7%, to $37.92 a share.
BUSINESS
December 26, 2009 | Tom Petruno, Market Beat
In case you missed it, Treasury Secretary Timothy F. Geithner this week promised America that there won't be another financial crisis in 2010. "We're not going to have a second wave of financial crisis," Geithner said in an interview with National Public Radio. "We'll do what is necessary to prevent that. We cannot afford to let the country live again with a risk that we're going to have another series of events like we had last year." Well, there it is. And you wonder why the stock market is at 14-month highs?
CALIFORNIA | LOCAL
June 18, 2011 | By Ricardo Lopez, Los Angeles Times
Eighteen people have been charged with fraud, money laundering and conspiracy in a scheme that involved cold-calling investors to bankroll indie-film productions, the FBI and U.S attorney's office said Friday. The indictments allege that since 2004, Burbank-based Q Media Assets and Sherman Oaks-based Cinamour Entertainment LLC solicited $25 million from investors for a handful of films, some of which were never made or went straight to DVD. FBI Special Agent Steven Goldman said the companies used high-pressure sales tactics that misrepresented material facts.
BUSINESS
July 25, 2012 | By Jessica Guynn
Zynga just gave Facebook investors something else to worry about. Shares of the social networking powerhouse plunged 24 hours ahead of its first earnings report as a public company, taken down by a double whammy: disappointing results from social gaming company Zynga and comments from Zynga Chief Executive Mark Pincus who, in part, blamed Facebook for slashing its outlook for 2012. Facebook shares were down 8% to $27 in after-hours trading. Zynga accounted for 12% of Facebook's revenue in 2011.
BUSINESS
December 3, 2013 | By Stuart Pfeifer
California regulators have accused the husband of an Orange County assemblywoman of misleading investors in his real estate lending business. The Department of Real Estate alleged that Dan Harkey, husband of Assemblywoman Diane L. Harkey (R-Dana Point), engaged in self-dealing and made "misrepresentations of fact to investors. " The agency's disciplinary action seeks to suspend or revoke the corporate broker license issued to Harkey's three companies, Point Center Financial Inc., National Financial Lending Inc. and Calcomm Capital Inc. An administrative hearing on the accusation, filed Nov. 19, has not been scheduled.
BUSINESS
March 19, 2014 | By Chris O'Brien
In a sharply worded letter released Wednesday,  Mike Lynch, former chief executive of Autonomy, has accused Hewlett-Packard of misleading shareholders about the accounting problems it claimed to have uncovered at the British company it acquired in 2011. HP Chief Executive Meg Whitman announced in November 2012 that the company was taking a $5-billion write-down after a whistle-blower had alerted them to widespread fraud at Autonomy. The company referred the matter to a number of U.S. and British regulatory authorities.
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