Stocks Sink in Early Trading; Gold Plunges
(NEW YORK) — A steep fall in commodity prices pulled down energy and mining stocks for a second day in a row on Monday. Gold plunged to $1,400 an ounce for the first time since March 2011 as a sell-off in metals continued from last week. Oil prices hit their lowest level since mid-December. The Dow Jones industrial average was down 89 points at 14,773 shortly after 10 a.m. Monday, a drop of 0.6 percent. Caterpillar led the Dow lower, losing 3 percent to $82.87. The Standard & Poor’s 500 index fell 12 points to 1,577, a loss of 0.7 percent. The Nasdaq composite fell 25 points, or 0.8 percent, to 3,267. Mining and energy stocks had the biggest losses following the plunge in commodity prices. Freeport-McMorRan Copper Gold and Newmont Mining fell 6 percent, the biggest drops in the S&P 500 index. (MORE: 6 Reasons Why the Stock Market Could Do Surprisingly Well in 2013) Citigroup rose 3 percent to $46.05, one of the biggest gains in the S&P. The bank reported earnings Monday that beat analysts’ ...
New York allows investment bank to bend 'potty parity' law
In a rare move, New York City’s buildings department OK'd an investment bank's request to break the city's potty-parity law and add a men's bathroom and urinals to its trading floors.Japanese firm Nomura, gearing up to move into Worldwide Plaza in the city’s midtown area, requested permission to build another men’s bathroom for its fourth floor, the main trading floor, which is expected to house a...
Found 1 month ago on channel MSNBC
KKR to sell Japanese staff agency for $721 million
TOKYO - U.S. investment firm KKR & Co LP will sell Japanese temporary staffing agency Intelligence Holdings to a domestic peer, Temp Holdings , for 68 billion yen ($721 million) after almost doubling the value of the company.
Found 1 month ago on channel Reuters
NYC Company Requests Fewer Toilets for Female Employees
The folks at Nomura, the Japanese investment banking giant, really know how to tick off women. According to the New York Post, Nomura has asked George Comfort & Sons, the owners of Nomura’s sparkling new offices at Worldwide Plaza, in New York, to install fewer women’s toilets...
Found more than 1 month ago on channel Abc News
Japanese pensions at a crossroads
Vast pension reserves sit basically idling in Japan, looking for better investments to provide the stable returns needed to pay for the increasing tally of benefits owed to retirees. Presently the Government Pension Investment Fund (GPIF) holds the largest share of these funds, with 111.93 trillion yen (US$1.19 trillion) as of Dec 31, 2012.