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October 30, 2012 | By Andrew Tangel, This post has been updated. See the note below for details
U.S. stock markets plan to reopen Wednesday after being shuttered for two days following the arrival of Hurricane Sandy. The New York Stock Exchange's parent company, NYSE Euronext, said trading would commence as usual with a 9:30 a.m. EDT opening bell. The NYSE said it was in coordination with all U.S. stock, bond, options and derivatives markets. The New York Stock Exchange's building and trading floor are "fully operational" despite flooding in Manhattan's financial district.
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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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BUSINESS
October 28, 2012 | By Chad Terhune
The New York Stock Exchange said it plans to open for trading Monday despite the threat of disruptions as Hurricane Sandy barrels toward the East Coast. NYSE Euronext said it is "monitoring the advance of Hurricane Sandy and preparations are in place for our U.S. markets to operate normally on Monday. " A spokesman for the Nasdaq Stock Market couldn't be immediately reached. New York's major airports were preparing to shut down late Sunday and airlines were canceling hundreds of flights in and out of the area.
NEWS
April 4, 2014 | By Timothy M. Phelps
WASHINGTON -- Atty. Gen. Eric H. Holder Jr. announced Friday that the Justice Department is investigating the practice of high-speed trading on the stock exchanges. Holder, in testimony prepared for delivery before the House Appropriations Committee, said the Justice Department is investigating the use of computer algorithms and ultra-high-speed data networks to execute trades as a possible violation of antitrust laws. Firms that use such tactics, employing physicists and other scientists to predict changes in the markets sometimes only seconds in advance, have been around for more than three decades.
BUSINESS
July 27, 1988 | Associated Press
The communist government will open a limited stock exchange in Budapest on Jan. 1 with only members permitted to buy and sell shares, according to the head of the securities trade secretariat. The planned stock exchange is to open at the same time that a new law on companies goes into effect. Government officials have said the law, now in the drafting stage, will be presented to Parliament in the fall.
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
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.
NEWS
September 27, 1985 | Associated Press
The New York and American stock exchanges canceled all trading today as Hurricane Gloria bore down on the Northeast. Regional stock exchanges elsewhere in the country also closed, some after trading briefly. The over-the-counter market operated by the National Assn. of Securities Dealers in Washington opened, but the group's traders decided to halt at noon after two hours of trading.
BUSINESS
March 6, 1988 | From the Washington Post
Officials at the major financial exchanges in Chicago and New York have agreed to establish a communications hot line for use during market crises and are working to develop other information systems that will more closely link the country's stock and futures markets. Agreement on the proposed hot line was reached during a series of meetings between exchange officials and regulators last month, according to sources involved in the talks.
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
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 Walter Hamilton, Andrew Tangel and Shan Li
NEW YORK - The Nasdaq Stock Market suffered a distressing three-hour outage that halted trading in some of the nation's leading companies, the latest in a series of embarrassing glitches that have exposed technological weaknesses across Wall Street. The snafu sent harried traders scrambling for alternative ways to conduct business and left legions of individual investors with no way to buy or sell shares of companies such as Apple Inc. and Google Inc. The country's second-largest stock market was disabled from 9:14 a.m. to 12:25 p.m. Pacific time.
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
December 21, 2012 | By Andrew Tangel, Los Angeles Times
NEW YORK - For more than two centuries, New York Stock Exchange traders barking buy and sell orders symbolized American capitalism at work. But the last decade has witnessed the rise of the machines - electronic exchanges offering cheaper and faster stock trading. The Big Board could not keep up. Now, the NYSE is issuing a sell order - its own. The world's most well-known exchange operator said Thursday that it had agreed to be bought by a mostly unknown electronic rival for $8.2 billion.
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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