Deutsche Telekom CEO in Transition

Germany’s biggest phone company, Deutsche Telekom, just announced its CEO is stepping down to pursue ‘entrepreneurial opportunities’. Current CEO, Rene Obermann will remain with the company until the end of next year to oversee the transition to its new CEO, Timotheus Hoettges. Hoettges is the company’s current CFO and has been with Deutsche Telekom since 2000. While there is speculation about …

Optimism on the Rise as Housing Index Hits 6 Year High

The builder sentiment index rose two points to 47 this month, inching closer to the 50 point level that most experts view as signs of growth. While the index is still below the level most economists would categorize as a growing market, the trend has been upward and it has been consistent, causing many to …

Morgan Stanley Fined $5 Million for Facebook IPO Improprieties

Morgan Stanley was fined $5 million for unlawfully coaching Facebook’s treasurer to improperly provide information to its analysts just prior to Facebook’s IPO. William Galvin, the Secretary of the Commonwealth of Massachusetts, hit Morgan Stanley with the penalty for what he called, “…a clear violation of the global research analyst settlement that Morgan Stanley signed …

Apple’s Stock Punished on Announcement of iPhone 5 Sales in China

Apple’s stock dropped on news that its debut of the iPhone 5 in China did not live up to analysts expectations. The company sold 2 million units over the weekend, almost matching their unit sales volume for the entire third quarter of this year, yet the company’s stock was down . China is now the biggest …

Best Buy Buyout Postponed, Stock Gets Hammered

Best Buy’s stock price took a beating today after it announced that the buyout by its co-founder, and largest shareholder, Richard Schulze will be postponed. Shulze apparently needs more time to get his buyout plans finalized and Best Buy claims putting the deal off until after the holidays will be better for both sides. Wall Street …

Greece Set to Get 34.3 Billion Euros as Bailout Dredges On

The finance ministers of all the members of the Eurozone, known as the The Eurogroup, agreed to an additional 34.3 billion euro to be disbursed to Greece in their latest bailout efforts. The Greek bailout and its now infamous austerity measures have dragged on and appear to be a very long-term proposition for the Greek government and …

As Fiscal Cliff Deadline Nears, Fears Heat Up

As the end of the year approaches Americans concern over whether or not the fiscal cliff will be averted intensify. Democrats and Republicans alike claim they have compromised, yet no agreement has been reached that will put all the negotiating to rest. While most on Capitol Hill have been nothing but pessimistic about beating the …

Delta Airlines Invests $360 Million to Acquire 49% Interest in Virgin Atlantic Airways

Virgin Atlantic Airways is selling a 49% interest int the company to Delta Airlines for $360 million in a deal that Delta’s has been contemplating for two years. Sir Richard Branson will still own a 51% controlling share of Virgin Atlantic and he has bet a million British pounds that the Virgin brand will stay alive …

Ingersoll-Rand Spins Off Security Business in Strategic Initiative

Ingersoll-Rand announced it will be spinning off its security business from the rest of its operations in a strategic initiative that includes a a $2 billion share repurchase plan and a 31% increase in its  dividend and . The Davidson, North Carolina based company generated $14.8 billion in sales in 2011 and has 60,000 employees worldwide.