“NEW YORK (Reuters) – ING Bank NV agreed to pay $619 million to settle U.S. government allegations that it violated U.S. sanctions against Cuba, Iran and other countries. It was the biggest ever fine against a bank for sanctions violations.
U.S. authorities said ING moved $1.6 billion illegally through banks in the United States from the early 1990s through 2007 by concealing the nature of the transactions.”
Comments »“SAN FRANCISCO (Reuters) – Marketing on Facebook influences consumer behavior and leads to increased purchases for the brands that leverage the social-networking site, consulting companycomScore said in a report released Tuesday.
“The Power of Like 2: How Social Media Works,” looks at paid advertising on Facebook as well as earned media exposure– meaning mentions of the brand made by Facebook users in status updates and the like. It is based on the experiences of large brands such as Best Buy, Starbucks and Target.
The report follows up on a July 2011 paper, “The Power of Like: How Brands Reach and Influence Fans Through Social Media Marketing.”
Comments »“LONDON (Reuters) – Oil major BP said oil had started pumping from a new project in deepwater in the Gulf of Mexico, its first newdevelopment to come onstream since the Macondo disaster in 2010 caused the largest offshore spill in U.S. history.
BP said on Tuesday the Galapagos development started initial production earlier in June, with oil flowing to a nearby platform 140 miles south east of New Orleans in water depths of 6,500 feet.
The Galapagos project was named by BP as one of a handful of major projects which will help demonstrate its return to work in the Gulf of Mexico, where it is the largest producer of oil and gas in a region which is key to its future, despite the oil spill at its deepwater Macondo well two years ago.”
Comments »While U.S. banks have been trying to unload debt exposure to Greece, Ireland, and Protugal they have been increasing risk to Italy, France, and other EU countries.
What impact will this have on risk exposure ?
Comments »Warning Flags Raised Two Years Ago About Trading Desk That Lost $2 Billion
Read the article here.
Comments »Jay Yarow with the details of Apple’s plan to destroy Google. He believes it is “…clearer than ever that Apple really is going to attempt to kill Google.”
Read the article here.
Comments »2:16 P.M.: Restaurant integration with Yelp has gotten deeper, and integration with OpenTable to make reservations.
Full Article (live blog)
Comments »“Insurer UnitedHealth Group sees some parts of the health care overhaul as sound medicine and plans to keep them regardless of whether the law survives an upcoming Supreme Court ruling.”
Comments »“Under Armour’s board has approved a two-for-one stock split. The company expects the split will be distributed near July 9 with a record date of June 25.
Shares of Under Armour rose 1.2% to $104.50.”
Comments »“General Electric is considering breaking off large parts of its lending business amid investor concerns that the conglomerate has become one of the largest banks in the U.S., The Wall Street Journal reported.
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Although GE [GE 19.324 
0.124 (+0.65%) 
] has made strides to cut down its GE Capital division by selling assets and allowing its loan portfolio to shrink, top executives are now looking at going further, the Journal said.”
Gapping up
INMD +19.9%, ING +5.4%, BBVA +4.6%, PCX +3.6%, STD +3.3%, RIO +3%,
DB +2.8%, TEF +2.8%, BAC +2.6%, BCS +2.4%, BBL +2.3%, BP +2.1%, ABB +1.8%,
BHP +1.8%, SAP +1.6%, HBC +1.1%, TRIP +3.2% , THC +2.8%, EMC +1.6% , NVDA+2.3%
Gapping down
TTM -1.9%, NOK -1.3%, AKS -1.7%, AKS -1.7%, AMZN -0.2%,
SFLY -1.3%, MOH -2%, CNC -23.9%, ES -6.7%, FRX -5.3%,
Comments »“Johnson & Johnson (NYSE: JNJ) will reportedly pay $2.2 billion to end a probe into sales of its antipsychotic drug Risperdal and other medications. A settlement could be announced as early as this week.
Johnson & Johnson on June 8 announced it would set aside $600 million to settle civil claims related to its marketing of Risperdal, a heart failure drug, Natrecor, and an antipsychotic medication, Invega. The Risperdal probe goes back to 2004.”
Comments »“US District Court Judge Richard Posner has decided, for the moment, to dismiss two-year old patent litigation involving Apple Inc. (NASDAQ: AAPL) and Motorola Mobility, now merged with Google Inc.(NASDAQ: GOOG). The trial, scheduled to begin Monday, has been cancelled by Posner.”
Comments »“(Reuters) – Intel is counting on facial-recognition technology for targeted ads and a team of veteran entertainment dealmakers to win over reluctant media partners for its new virtual television service.
But so far it’s proving a challenge to get the service off the ground, thanks to an unwillingness on the part of major media content providers to let Intel unbundle and license specific networks and shows at a discount to what cable and satellite partners pay.”
Comments »$KFT will leave the NYSE to the NASDAQ on June 26 to experience what the company says “will yield greater cost efficiencies, while providing visibility advantages for the company’s iconic brands.”
Comments »Coders of applications will now be able to go to $FB to integrate their apps into $FB. Similar to what Apple, Google , and Microsoft have, but different then say an app store.
Comments »
