Celebrated on the last Thursday of November, Thanksgiving Day in the United States is followed by Black Friday, with retailers kicking off the holiday shopping season with a host of specials that have some shoppers camping out on their doorsteps overnight to be among the first through the doors when they open. The origin and meaning of the term "Black Friday" is a matter for debate, but today it is generally accepted to mean that retailers operating at a financial loss (in the 'red') for most of the year, are likely to turn a profit on that day (in the 'black') as shoppers descend in their droves to take advantage of specials.
The American Black Friday concept has been adopted in the UK this year as Asda (owned by Wal-Mart), John Lewis and Amazon are offering British buyers up to 70% off selected items as Black Friday promotions. Moreover, some retailers in the US have stretched Black Friday from the traditional one day into several, starting after Veterans’ Day and continuing until after Cyber Monday. While most retailers are closed for Thanksgiving Day, many are opening on Than...
Timothy Massad Nominated as CFTC Chairman - 14 Nov 2013 - Features
President Barack Obama's nomination of Timothy Massad to replace Gary Gensler as the chairman of the Commodity Futures Trading Commission (CFTC) came as no surprise. Massad played a significant role in the bank bailout program brought about by the 2008 financial crisis and should the Senate confirm his nomination, Massad will head the agency charged with implementing the Dodd-Frank Act aimed at regulating trading of complex derivatives on Wall Street. This lucrative, and often volatile, market has been accused of being one of the root causes in the destabilization of the US economy and the CFTC has the task of ensuring this particular piece of history is not repeated...
Twitter Prepares for IPO Launch - 31 Oct 2013 - Markets
As Twitter prepares to launch its initial public offering, analysts are comparing every move the company makes to Facebook's problem-plagued May 2012 IPO through Nasdaq. Twitter aims to raise $1.6 billion with its IPO, and analysts have predicted that when the company starts trading it may be worth between $12 billion and $20 billion. As of June 30, 2013, Twitter had 218.3 million active monthly users, reflecting an increase of 44 percent over the same period of last year. The company, which has been operating for seven years, has noted that as the size of its user base increases, user growth rate will slow down...
Reid-McConnell Act Averts Default - 17 Oct 2013 - News
Stock markets rallied in response to an eleventh-hour agreement to end the partial US government shutdown, with the S&P 500, Dow Jones Industrial Average and Nasdaq all closing up by more than one percent on Wednesday just prior to confirmation of the deal which will fund the US government until January 15, 2014, and extend the debt ceiling to February 7. The S&P 500 rose 23 points to 1,721, the Dow Jones climbed by 206 points to close at 15,374 and the Nasdaq rose 45 points to 3,839 on Wednesday amid an upbeat mood on Wall Street. ..
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Out of nine initial public offerings (IPOs) tentatively scheduled for the week ending November 22nd, five actually took place. Here?s a look at how they performed on the first day of trading. Liquefied ...
November 22, 2013: U.S. equity markets opened mixed Friday morning with the DJIA opening lower after its record-setting close above 16,000 on Thursday. An interesting JOLTS report from the Labor Department ...
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