According to www.livetradingnews.com
US’s actual employment numbers not that bad
The market was disappointed with Friday’s US employment data, but on a close look the actual total employment, as opposed to the widely reported seasonally adjusted numbers, was no near the headline disaster that the market’s reaction took.
Welcome to austerity, America! CNN Money
By Nin-Hai Tseng, writer-reporter June 3, 2011: 11:36 AM ET
Those calling for smaller government should be pleased: State and local municipal employees are losing their jobs at a much faster pace than the private sector.
FORTUNE – For all of Washington’s bickering over the debt ceiling and all the battle cries for government budget cuts, it’s important to point out that there’s already a back-door austerity plan well under way and it’s showing its very dreary colors in cities and states across America.
Bank of England to Hold Off Raising Rates on Faltering Recovery
June 04, 2011, 5:42 AM EDT
June 4 (Bloomberg) — The Bank of England will hold off increasing its benchmark interest rate next week as manufacturing and services surveys this week indicate the economic recovery is faltering
Paris Luxury Homes Rise Fastest as Buyers Chase Tight Supply June 04, 2011, 4:30 AM EDT
By Chris Spillane
June 4 (Bloomberg) — Paris luxury-home prices rose the most in the world in the 12 months through March as buyers from emerging markets competed for a limited number of properties, Knight Frank LLP said.
Bloomberg
Dow Falls in Longest Slump Since 2004 Amid Concern About Economy
June 04, 2011, 12:57 AM EDT
By Inyoung Hwang
June 4 (Bloomberg) — U.S. stocks fell this week, sending the Dow Jones Industrial Average to its longest streak of losses since 2004, after worse-than-estimated reports on jobs and manufacturing fueled concern earnings growth will slow.
Former Fed Chief Greenspan Favors Clinton-Era Tax Rates
BY PHIL IZZO
Alan Greenspan, a high-profile proponent of President George W. Bush’s tax cuts, now says the U.S.’s debt troubles have become so worrisome that he would support going back to Clinton-era tax rates.
“The fact that I’m in favor of going back to the Clinton tax structure is merely an indicator of how scared I am of this debt problem that has emerged and its order of magnitude,” said the former chairman of the Federal Reserve in …
GROUPON: From The Ashes Of A Dead Startup To A Billion-Dollar Company In 2 Years
Leah Goldman and Alyson Shontell | Jun. 4, 2011, 10:56 AM |
Groupon is one of the fastest growing companies. Ever.
How did the pioneering daily deals site reach the point of a $750 million IPO in just two years? Well, it wasn’t easy. In fact, Groupon almost failed before it ever existed.
Groupon stemmed from a different site, The Point. Founder Andrew Mason and his investors soon realized The Point was headed toward failure, and fast.
via A History of Groupon.
SEC Watch: Tiger Global Bought Massive Amounts Of LinkedIn Stock Pre And Post IPO
by Leena Rao
LinkedIn and investment firm Tiger Global both filed separate SEC filings yesterday evening indicating that the firm loaded up on LinkedIn stock both before and after the company’s IPO in May.
According to the filing, a Tiger’s head Chase Coleman and Tiger fund, PIP V, acquired 2,436,001 shares of preferred and common stock of LinkedIn on secondary markst, from December 21, 2009 to August 10, 2010, for $31,740,600.70. Some of Tiger’s investment during this time was reported, but the filing shows Tiger had a much bigger stake.
LinkedIn Holdings, another Tiger/Coleman vehicle, acquired 1,306,927 shares of LinkedIn stock on secondary markets from August 10, 2010 to April 15, 2011, for $29,796,007.50.
And post IPO, which took place on May 19, Tiger Funds purchased 300,000 Class A Common Shares, for a purchase price of $45.00 per Share or $13,500,000.
While we knew Coleman was buying up shares of LinkedIn, we didn’t know it was to the tune of over $75,000,000. And Coleman himself now owns a little over 4 percent of LinkedIn, according to the filing. The filing also states that Coleman has agreed to not offer or sell any shares for a period of 180 days from the offering in May.
LinkedIn’s IPO priced at $45 per share, but started trading at $83 per share, giving the company a market cap of $7.8 billion. Shares have since dropped to $77.92 per share.
Tiger has made a number of investments in large internet companies including Zynga, Facebook and Yandex, which just went public two weeks ago. On the public markets, Tiger has recently bought stakes in Amazon, Apple and Netflix. Tiger Global has $1 billion in commitments and is reportedly raising another $1.25 billion for a new fund.