The Dow Jones Industries Average fell 74.73 points, or 0.56 per cent, to 13,170.72 as of 4:00pm ET; the Nasdaq Composite fell 21.65 points, or 0.72 per cent, to 2992.16; and the S & P 500 Index fell 9.03 points, or 0.63 per cent, to 149.45. The US stock index retreated after talks over the fiscal cliff failed.
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Eurozone finance ministers agreed at a meeting in Brussels on Thursday to approve the release of a long-delayed 49.10 billion euro bailout for Greece. Earlier this week, Greece announced the purchase of 31.90 billion euro bonds. The euro group said the bond buybacks and other measures would reduce Greece’s debt to 124% of GDP by 2020, adding that Greece and other euro zone countries were ready to do more if necessary to ensure the deficit target was met.
Eurozone agrees on common banking supervision. After nearly 14 hours of discussion, the European Union finance ministers meeting reached an agreement on European Union banking supervision in the early morning of the 13th. The European Central Bank will therefore have new powers to play an important role in banking supervision. The statement released by the meeting said that the European Central Bank will become the core of the supervision mechanism and be responsible for the overall operation of the supervision mechanism. The conditions for inclusion in the supervision of the European Central Bank are that the assets under supervision exceed 30 billion euros, or have considerable impact on the domestic economy.
Today’s hot stocks:
Google has officially released iOS version of Google Maps. At noon on December 13, Beijing time, Google has just released iOS version of its Google Maps app, which supports iPhone, iPad and iPod touch. iOS version of Google Maps adds Street View mode and turn-by-turn navigation. The software is currently available in the App Store in China and the United States. Google Maps had been pre-installed in Apple iPhone and iPad. But when Apple upgraded iOS 6 in September this year, Apple replaced Google Maps with its own map service.
Sprint is offering $2.10 billion for Clearwire. Sprint Nextel is offering to pay Clearwire $2.90 per share for its remaining 48.3% stake, according to SEC filings today. Sprint currently owns more than 50% of Clearwire. The deal values Clearwire at $4.23 billion.
Walmart is in talks to acquire an 80% stake in Turkish retailer Migros Ticaret AS. According to reports, Walmart is currently in talks to acquire an 80% stake in Turkish retailer Migros Ticaret AS from London-based private equity firm BC Partners. Walmart’s acquisition deal values Migros at more than $4 billion, including debt.
Dish is licensed to build a mobile network. According to reports, the US Federal Communications Commission (FCC) officially announced on Tuesday night that the US satellite TV operator Dish Network (hereinafter referred to as "Dish") will be able to use the spare spectrum resources to build a mobile network. It was previously reported that Dish is also in talks with companies outside the industry such as Google on wireless network cooperation, hoping to jointly build a mobile communication network to provide broadband services to tablets and smartphones.
European Union approves e-book pricing agreement between Apple and publishers. The European Union Commission today announced that it has accepted Apple’s e-book pricing agreement with four publishers. Over the next two years, the four publishers will no longer constrain, restrict or prevent e-book retailers from setting, adjusting or reducing retail prices for e-books, or offering discounts and promotions.
Barclays plans to cut 2,000 jobs in its investment banking division as part of a broader restructuring plan to join the global banking industry in cutting costs, according to WSJ, citing people familiar with the matter. Barclays is expected to announce the news early next year.