Alibaba Group Holding Ltd. (NYSE:BABA) became the biggest ever initial public offering in history on Friday, as strong demand for the e-commerce giant pushed its fund-raising target to $25 billion. Strong demand for Alibaba shares led underwriters exercise a so-called “green shoe option,” allowing the company to sell an additional 48 million US depositary shares.
Stocks in the US started the trading session in the black on the heels of Friday’s robust rally. Pundits are now convinced that investors are comfortable with the idea that tapering is not tightening despite a stronger than expected employment reports that put the unemployment rate near 7%. The Fed has tied rates to an
Forex » US dollar gains traction, but faces strong headwindsOctober 15, 2013, 07:32 GMT
The US dollar strengthened against a basket of its major peers as Democrats and Republicans mobilize to end the longest partial government shutdown in 17 years. Senate leaders from both parties are scheduled to meet with President Barrack Obama to discuss a new proposal that could lift the budget impasse before the October 17 deadline.