Stock Market News Page 3

Sharp, the Japanese electronics manufacturer, has seen the value of its stock drop to a 37-year low as analysts fear the firm’s financial losses will grow. Sharp has predicted that its full-year losses will total 100 billion yen. However Goldman Sachs has forecasted that the figure will be closer to 150 billion yen. Deutsche Securities...

Groupon, the US voucher provider, has seen the value of its stock drop despite declaring a profit in the last quarter along with increased revenue. However, analysts in New York had expected the company to do much better causing shares to drop by more than a quarter. Groupon said on Monday that net income had risen to $28.4 million in the...

A private equity group has offered to buy Chinese advertising firm Focus Media. The consortium has said that it is willing to pay $27 per share for the company which was recently embroiled in accusations of accounting fraud. The offer means that the group, which includes Focus Media’s chief executive, has valued the advertiser at around...

Stocks are down across Asia as Japan reports a slowdown in growth and China announces exports have not grown as expected. For the quarter ending in June this year the Japanese economy grew by a disappointing 1.4 per cent because of a strong yen and the continuing economic crisis in Europe. Japan’s growth was down from the previous...

When shares in Manchester United go on sale today on the New York Stock exchange they will be priced at $14 each. When the football club first announced the stock sale it had hoped to be able to attract between $16 and $20 per share. The lowering of the price suggests that the club was unable to find any buyers and the lowering of the...

Standard Chartered bank has been accused by the US of laundering billions of dollars of money from Iran over the past decade even though many of the Iranian institutions the bank was dealing with were subject to US sanctions. According to the New York State Department of Financial Services up to $250 billion has been laundered and...

A sharp swing in stock prices has caused the New York Stock Exchange to investigate a spate of irregular trading. Stocks in 140 companies were being traded at higher than normal volumes including American Airlines and Citigroup. However, trades have only been cancelled in six stocks. The abnormal trading has brought back memories of the...

UBS has blamed a loss of 349 million Swiss francs on problems associated with the flotation of Facebook. The Swiss bank is claiming that a mishandling by Nasdaq meant that it ended up with far more shares in the social networking site than it had initially ordered. Facebook shares have tumbled in price following the stock exchange...

Manchester United Football Club has announced plans to list on the New York Stock Exchange. The club aims to sell 16.7 million shares at as much as $20 each in an effort to raise $330 million. The decision follows a fall in revenue over the last year after the team saw its Champion’s League hopes dashed. Manchester United said that it...

Facebook shares dropped to an all time low last week after the social networking site published its first ever quarterly results since becoming a public company. The company said that for the quarter ending in June it had lost $157 million. When it first listed on the Nasdaq back in May the price per share was $38. Last week saw that price...