One of the biggest antitrust investigations in the nation's history has led to fines of $470 million against one Japanese auto parts manufacturer and $78 million against another, the U.S. Justice Department announced today.
Many investors are expecting Facebook to file papers for an initial public offering sometime later this week. The company, which was founded in a Harvard dorm room less than a decade ago, is expected to be valued at nearly $100 billion by Wall Street.
And if these early reports are true this is shaping up to be the biggest Internet IPO ever.
European Union leaders are meeting in Brussels today to discuss the monetary union's ongoing economic crisis. According to The New York Times, the countries will decide that austerity is not enough to curb the sovereign debt crisis.
Originally published on Mon January 30, 2012 8:41 am
Many of the files stored by the millions of users of the cloud service Megaupload could begin losing their files on Thursday. The AP reports that federal prosecutors said Megaupload paid third parties to store data and now that authorities have freezed Megaupload's accounts, it can no longer pay those providers. The providers said they would begin deleting files as early as Thursday.
Originally published on Mon January 30, 2012 6:45 am
In December, personal income climbed 0.5 percent, while disposable income rose 0.4 percent. New figures released today from the Commerce Department also show that consumer spending was flat, increasing 0.1 percent from the month before.
While the AP reports that rise in income was the most in nine months, the news is a mixed bag.