In a move unexpected by experts, and unusual for Internet base IPOs; Groupon (GRPN on NASDAQ) fell below its initial price after only 21 days of trading. The Chicago based company, which acts as a local e-commerce marketplace connecting consumers with discounts thorough daily emails, began trading on November 7th, 2011 at more than $25.00 […]

Amazon.com Inc., a multinational electronic commerce company, appeals before the California voters to abolish a new law that oblige online sellers to collect sales taxes on purchases made online throughout the state. On Friday, a referendum petition was filed with the office of state Attorney General so that the state’s registered voters can decide on […]

Bank of America has agreed to pay $8.5 billion to resolve claims that the financial and insurance company sold mortgage-backed securities that are of low-quality before the collapse of the housing market. The deal came after a group of investors insisted that the North Carolina-based company repurchase $47 billion worth of mortgages that the Countrywide […]

Applications for home loans decreased last week, but the demand for refinancing increased as interest rates bordered down, a financial group said on Wednesday. The seasonally adjusted Purchase Index for mortgage application activity, including the demand for home purchase and refinancing, dropped 0.4% in the week that ended June 3, according to the Weekly Mortgage […]

Auto sales took a huge dip in May; much lower than what analysts expected. The May auto sales are a reflection of consumers’ hesitance to purchase higher priced vehicles amidst the weakening economy. Because the supply of cars has tightened after the Tsunami and a series of earthquakes hit Japan, a lot of companies raised […]

U.S. stocks ended an unstable session with moderately higher gains on Thursday. Upbeat earnings on technology, as well as consumer discretionary stocks outperformed the data, which showed that economy grew at a sluggish rate and unemployment rate abruptly increased. The NASDAQ stock market posted the largest gains after NetApp Inc’s strong profits increased the stock […]

Fewer workers are planning to save for their retirement in the United Kingdom than those living in China and Malaysia, a report by HSBC bank showed on Thursday. British workers fail to save for their own retirement as they continue to avoid the alarming changes to pension provision in the United Kingdom. The survey shows […]

An online job listing indicated that Sony Ericsson is not considering unemployed job candidates. After the company relocated to Atlanta in 2010 and needed a couple new employees, their recruiters told a group of unemployed applicants not to bother. Sony Ericsson, one of the leading giants in the cellphone industry, later denied the allegations saying […]

Two major banks and three other mortgage servicers in the United States proposed to pay up to $5 billion to resolve their foreclosure probes by federal and state officials based on a report released by the Wall Street Journal. The bank’s proposal was made Monday when federal officials and state attorneys general presented a scheme […]

Based on a draft report released by a top scientific organization there is a huge possibility that renewable energy will be the world’s biggest source of energy. It will be widespread and may even power-up factories and light homes, the Associated Press said on Thursday. The report, however, warned that although we will benefit greatly […]