High-speed trading to blame for plunge, says NYSE
“We have a market that responds in milliseconds, but the humans monitoring respond in minutes, and unfortunately billions of dollars of damage can occur in the meantime,” said James Angel, a professor of finance at the McDonough School of Business at Georgetown University.
The glitch that sent markets tumbling Thursday was years in the making, driven [...]
Dow Chemical Profit Soars, Shares Trade Higher
Dow Chemical Co. said Wednesday that its profit in the first quarter increased on the strong demand for its products and price increases, as the company beat Wall Street estimates for both earnings and revenue.
Net income rose to $551 million, or 41 cents a share, from $24 million, or 3 cents, a year earlier, Midland, [...]
Goldman Sachs says ‘It’s not our intention to mislead’
Goldman Sachs Group Inc., facing a fraud lawsuit from U.S. regulators, said it would never intentionally mislead investors.
“We would never intentionally mislead anyone, certainly not our clients or our counterparties,” Goldman Sachs Co-General Counsel Greg Palm said today on a conference call with analysts. “We have never condoned and would never condone inappropriate [...]
