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WORLD
March 11, 2009 | Raed Rafei
Syria launched its first stock exchange in decades Tuesday in a bid to upgrade its financial system and attract much-needed foreign investment to its growing economy. The country, which is seeking to privatize its once heavily state-owned economy and draw new investments into its ailing public sector, is shifting from decades of socialist policies toward a more market-oriented system.
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BUSINESS
April 25, 2014 | By Julie Makinen
BEIJING - DMG Entertainment, the Beijing-based company that co-produced Hollywood films including "Iron Man 3" and "Transcendence," is in the process of going public on the Shenzhen Stock Exchange. The move will see DMG enter the exchange through a reverse takeover with meat-processing company Sichuan Gaojin Foods. The deal still needs regulatory approval. According to DMG and Sichuan Gaojin, the deal values DMG at $970 million. That's three times the value of Gaojin at the end of 2013.
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NEWS
May 12, 1992 | Reuters
A man was stabbed to death in China's Shenzhen stock exchange during a gang fight over line-jumping, the semiofficial China News Service said Monday. The man was killed during a fight between two gangs trying to force their way to the front of the share transaction line.
BUSINESS
October 15, 2013 | By Andrew Tangel and Jessica Guynn
NEW YORK -- Twitter Inc. has found a home on Wall Street: the New York Stock Exchange. The micro-blogging juggernaut's choice to list its soon-to-be-public stock on the Big Board is a blow to the Nasdaq Stock Market, which fumbled the debut of Facebook, last year's hot tech IPO. Twitter disclosed its pick in a securities filing late Tuesday. Twitter is seeking to raise $1 billion in the offering, on track to take place next month. Although investors may care little where the company lists its stock, Twitter's choice nonetheless carries high stakes for the country's two largest exchanges.
BUSINESS
December 27, 1985 | From Reuters
Turkey's first stock exchange in more than 60 years was opened here Thursday by Deputy Prime Minister Kaya Erdem. A stock exchange was first established in Istanbul in the late 19th Century, but with the dissolution of the Ottoman empire, it was reduced to a set of brokers' offices. Born out of a financial scandal in 1982, the new trading floor for securities is part of a scheme drawn up by the government to regulate capital markets. It occupies a restored 19th-Century savings institution.
BUSINESS
May 5, 2010 | By David Pierson, Los Angeles Times
China's leading stock exchange continued its long slide Tuesday, tumbling to its lowest close in seven months after the central government introduced another measure over the weekend to try to slow the nation's surging economy. The Shanghai composite index, which was closed Monday for Labor Day , fell 1.2% in response to a central-bank announcement Sunday that it would require Chinese banks to increase the amount of capital they hold in reserve, the third such increase this year.
WORLD
November 25, 2012 | By Jeffrey Fleishman and Reem Abdellatif, Los Angeles Times
CAIRO - Security forces built a wall to contain stone-throwing protesters and Egypt's stock exchange tumbled Sunday amid growing unrest over President Mohamed Morsi's decision to expand his powers in a nation dispirited and angered by months of uncertainty. The country's main stock index fell nearly 10% in one of the most bruising days of trading since the 2011 uprising that toppled longtime autocrat Hosni Mubarak. Morsi's power grab left traders fearful that foreign investors - desperately needed to rescue Egypt's troubled economy - would shy away from the nation in light of the latest spasm of political instability.
BUSINESS
December 27, 1989 | From Associated Press
The first stock exchange in Communist Yugoslavia was set up Tuesday in the northern city of Ljubljana, the state Tanjug news agency reported. It said that the exchange was founded with a total capital of $17 million and that 152 stocks representing more than 50% of its capital were owned by 23 Yugoslav banks. The exchange will list Yugoslav and foreign companies and will publish the so-called YUIX--the Yugoslav Index--an average of the prices of selected stocks at the close of each trading day.
BUSINESS
January 7, 1985
Dean Williams Cluff of Orem, Utah, a former vice president of the Pacific Coast Stock Exchange, was indicted by a federal grand jury in San Francisco on 21 counts of mail fraud and securities fraud in connection with a scheme that cost 16 investors $1.2 million. Assistant U.S. Attorney Robert Dondero said the indictment accuses Cluff of running a Ponzi scheme, in which investors, told they were making a profit, were actually being paid with money from other investors.
BUSINESS
May 7, 1999 | WALTER HAMILTON, TIMES STAFF WRITER
A group of major investment firms announced plans Thursday to invest $23 million in a London-based electronic stock exchange that they hope could eventually compete with U.S. players such as the New York Stock Exchange. The investment in Tradepoint Financial Networks, which runs an innovative but money-losing exchange, is another example of the dramatic shifts taking place in the way that shares are traded around the globe.
BUSINESS
October 14, 2013 | By Andrew Tangel
NEW YORK - As Twitter Inc. shops for a home on Wall Street, the Nasdaq Stock Market and New York Stock Exchange are cranking up the charm - just like they've done with other tech stars. As real estate listings website Zillow Inc. was going public two years ago, Nasdaq dispatched Chief Executive Robert Greifeld to personally make a pitch over breakfast in Seattle. The NYSE deployed Larry Leibowitz, its chief operating officer. In the end, Nasdaq won. The exchange dangled generous use of its electronic billboard towering seven stories over Times Square.
BUSINESS
October 2, 2013 | By Andrew Tangel
NEW YORK - King Kong climbed it. A bomber crashed into it. Now the country's most iconic building is going public. The Empire State Building is set to make its debut Wednesday on the New York Stock Exchange. And for $13 - about half the cost of a ticket to its famous observation deck - you can own a piece of the American landmark. When it was completed in 1931, the 102-story Art Deco landmark reigned as the tallest building in the world. An enduring symbol of Gotham's vertical prowess, it retained its status as the tallest skyscraper in New York City for four decades, until it was eclipsed by the old World Trade Center at the foot of Manhattan.
BUSINESS
September 14, 2013 | By Tom Petruno
Never let a crisis go to waste, says an old rule of politics. For some major players in the economy, the financial crisis that began five years ago this month with Lehman Bros.' collapse turned out to be as much an opportunity as a calamity. Although the memories that the anniversary evoke are overwhelmingly grim - cascading home foreclosures, bank failures, massive layoffs, diving stock prices - five years later some spectacular winners have emerged from the maelstrom, along with a more familiar list of pitiable losers.
BUSINESS
August 22, 2013 | By Andrew Tangel
NEW YORK --The Nasdaq Stock Market fully resumed trading Thursday after a three-hour outage threw a wrench into Wall Street's day. The stock exchange fully reopened at about 12:25 p.m. Limited trading had resumed a few minutes earlier. Traders and investors braced for possible wild price swings with the resumption of trading in major technology stocks such as Apple and Google. “There's a lot that can go wrong,” Sal Arnuk, co-founder of the brokerage Themis Trading in New Jersey, said before trading resumed.  QUIZ: How much do you know about California's economy?
BUSINESS
May 29, 2013 | By Andrew Tangel
NEW YORK -- The Nasdaq OMX Group will pay $10 million for botching Facebook's initial public offering last year, a debacle that shook investors' confidence in Wall Street. Nasdaq's penalty would be the biggest ever paid by an exchange, said the U.S. Securities and Exchange Commission, which faulted the firm's "poor systems and decision-making" during one of the most-watched IPOs of all time. “This action against Nasdaq tells the tale of how poorly designed systems and hasty decision-making not only disrupted one of the largest IPOs in history, but produced serious and pervasive violations of fundamental rules governing our markets,” George Canellos, the SEC's co-director of enforcement, said in a statement.
BUSINESS
May 1, 2013 | By Salvador Rodriguez
With the acquisition of MetroPCS, T-Mobile is picking up 9 million new customers, more wireless spectrum and a stock exchange ticker symbol. The company, which has been renamed T-Mobile U.S., debuted Wednesday on the New York Stock Exchange, trading as "TMUS. " The stock opened at $16.38 and at mid-morning PDT was up slightly, at $16.50. Prior to the acquisition, T-Mobile did not trade as a stand-alone entity and was part of Deutsche Telekom, which owns 74% of T-Mobile U.S. MetroPCS shareholders received 26% of the new company along with $1.5 billion in cash, or $4.08 per share.
BUSINESS
July 5, 1988 | From Reuters
Oslo's stock exchange, striving to clean up its image, said Monday that it was investigating two cases of suspected share price manipulation worth several million dollars, and it said other similar deals may have taken place. Bourse spokesman Vidar Ullenrud said details of the trades involved had been passed to the Bank and Securities Inspectorate, which will consider whether criminal charges should be filed.
WORLD
March 21, 2013 | By Mark Magnier
NEW DELHI -- India's lumbering legal system delivered its final verdict Thursday in a 1993 serial bombing attack in Mumbai that killed 257 people and injured 700, upholding the death penalty for one of the accused masterminds and reducing to life in prison from death the sentences against 10 others. The 10 don't deserve execution because they were pawns in the plot, the Supreme Court ruled about two decades after the deadliest terrorist attack in India's history. The court blamed Pakistan's Inter-Services Intelligence spy agency for training the attackers and providing them with weapons, an accusation Pakistan has long denied.
BUSINESS
December 20, 2012 | By Andrew Tangel
NYSE Euronext, operator of the New York Stock Exchange, has agreed to sell itself to the IntercontinentalExchange in an acquisition that would reshape Wall Street. ICE, a 12-year-old electronic exchange operator based in Atlanta, will pay $33.12 a share for NYSE Euronext in a stock-and-cash deal worth $8.2 billion. The companies announced the acquisition early Thursday, saying both of their boards or directors unanimously approved the deal. The acquisition is slated to close in the second half of 2013, pending the blessing of U.S. and European regulators and both companies' shareholders.
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