Crude prices rise as investors bet big on oil strength
TOKYO Crude futures rose for a second day on Tuesday, with data showing hedge funds are betting big across oil markets following OPEC production cuts agreed last year.
Nasdaq OMX Group Inc (NDAQ.O) is in preliminary talks with U.S. securities regulators over a possible settlement for the glitch-ridden stock market debut of social networking site Facebook Inc (FB.O), the Wall Street Journal reported on Tuesday, citing people with knowledge of the discussions.
A settlement with the Securities and Exchange Commission would likely include a $5 million penalty for Nasdaq, the newspaper said.
Major market makers and broker dealers say they lost upward of $500 million because of technical glitches during Facebook's May 18 stock market debut.
"We are working closely with the Securities and Exchange Commission to resolve issues that arose from the events of May 18," Nasdaq spokesman Joe Christinat told Reuters.
Nasdaq offered a compensation plan in September of $62 million for firms harmed in the debut, but the proposition received mixed reviews with UBS AG UBSN.VX (UBS.N), Citigroup Inc (C.N) and other parties speaking out against it.
The SEC could not immediately be reached for comment by Reuters outside of regular business hours.
(Reporting by Tej Sapru in Bangalore, additional reporting by John McKrank in New York; Editing by Cynthia Osterman)
TOKYO Toshiba Corp wants to raise at least 1 trillion yen ($8.8 billion) from the sale of a majority stake in its flash memory chip business as a buffer against any fresh financial problems, a source with direct knowledge of the matter said.
BEIJING Claims that foreign investment is leaving China are incorrect, China's commerce minister Gao Hucheng told reporters on Tuesday.