Pincus Holds Dominant While Using Zynga IPO to Adv...

Mark Pincus, along with his bulldog Zinga and 20 more guys, regularly played soccer at San Francisco’s Golden Gate Park for years. Now, Pincus is the CEO of online games developer Zynga Inc. whose shares in an IPO this week on the Nasdaq stock exchange were valued at $9 billion. Pincus, described to be a control freak, retains company control even after it goes public. Special shares class allows him 37% voting power even...

AT&T Prepares for Possible Failure of T-Mobil...

U.S. regulators say AT&T’s takeover of T-Mobile USA would destroy jobs and limit competition down to three. Applications to the DOJ and U.S. Federal Communications Commission are temporarily withdrawn but AT&T and T-Mobile owner Deutsche Telekom said to continue to pursue the sale. AT&T faces a $4 billion charge should the takeover fail and will be a blow to CEO Randall Stephenson who confidently offered a big...

G20 Paris Summit to be Dominated by Euro Zone Cris...

Intent to resolve the crisis, officials attending the G20 summit in Paris on October 23 will have the euro zone crisis as their highlight. It will include Spain’s credit rating downgrade from S&P due to high unemployment – a larger economy threat Greece may face. South Africa Finance Minister Pravin Gordhan said International Monetary Fund’s and euro zone’s EFSF rescue fund are inadequate should the contagion...

ECB Makes No Decision Yet on Debt-buying Program S...

Last month, the European Central Bank re-launched its bond-buying program to alleviate rising borrowing costs in Italy and Spain caused by financial troubles and government debt speculations. ECB Executive Board Member Jose Manuel Gonzales-Paramo said no decision has been made yet on the span of the unusual intervention. He said the majority of ECB’s board authorized the debt purchases and they will decide on its future. He...

Obama Annoys Republicans in His First-Ever Tweet

In his first-ever tweet, President Barack Obama reiterated his economic agenda and his advocacy for a deal to reduce the nation’s deficit. Through the popular networking site, the president read questions using a laptop and for the first time ever sent his live tweets. He called it a presidential history as he did it in front of about 140 guests while a screen showed the Twitter questions sent by users with Obama saying his...

Emissions Cause Court Battle between Europe and U....

U.S. airlines are challenging the European Union’s climate regulations on their greenhouse gas emissions. EU wants to head the world’s climate change battle. It said there should be a price on carbon dioxide emissions for the protection of the climate and to stop droughts, flooding and effects against crops. Effective January 2012, airlines flying to and from Europe will need to secure Emissions Trading Scheme permits for...

U.S. Muni Debt Ratings May be Lowered by Moody’s

If the nation’s deficit remains high and federal funding falls, Moody’s on Wednesday warned of lowering Aaa-ratings of some U.S. states and municipalities. A number of states and municipalities are able to operate because of federal funding. Moody’s senior analyst Anne Van Praagh said those with more economic unpredictability and are able to refinance debt by depending on capital markets are likely to experience federal...

Focus on FBI Rises Following New Round of Cyber At...

The latest round of cyber attacks raised doubts if law enforcement is able to trace the criminals. The FBI vows to work on it but Congress is yet to tackle the country’s budget problems. FBI Director Robert Mueller, who faced Congress about his term’s 2-year extension, said there is so much work to do. He said in order to address cyber threats, the bureau has to have the proper equipment, the capability, the skill and the...