Tag Archives: dow jones

Business/Economics, International, U.S.

Rupert Murdoch scandal hits the stock market, Dow Jones boss quits, FBI investigating possible phone hacks in the United States

One reason why the mainstream media is so into reporting the stock market; Rupert Murdoch owns the stock reporting company Dow Jones.  Tonight, July 15 U.S. time, the CEO of the Dow Jones quit.

Les Hinton, the boss of Murdoch’s Dow Jones & Co stepped down, as the British phone hacking scandal surrounding Murdoch’s News Corp spread to the United States.  The Federal Bureau of Investigation is now looking into similar acts here in the U.S.

Already the CEO of Murdoch’s News International, Rebekah Brooks, resigned.  Brooks was also the editor of the News of the World, the newspaper implicated in the scandal.

More and more British media outlets, owned by Murdoch, are being implicated for the same thing; phone hacking and bribing police and politicians for confidential information.  Murdoch’s News Corp controls a multitude of media outlets around the world, and he controls the Dow Jones.

Why did Les Hinton, the boss of the Dow Jones, quit?  It could be because he used to be the chairman of Murdoch’s News International, when all the alleged criminal acts took place.

British media has reported that Rebekah Brooks made an unofficial statement to employees of the News of the World, that things are going to get only worse, as more information about the goings on inside Murdoch’s News Corp are revealed.

A U.S. corporate governance analysts said the same thing, only officially: “There is going to be a constant drip, drip, drip of more information coming out that is simply going to get worse and worse.”-Nell Minow, GovernanceMetrics

 

 

Business/Economics, International, U.S.

New York takes over Germany, the real reason the stock market is going up

U.S. media reported that the continued increase in the New York Stock Exchange (reported by the Dow Jones) is because of good economic data, like better than expected job numbers.

Monthly unemployment numbers are still over 400,000, and many economists have repeatedly stated that it needs to drop below 400,000, for several months in a row, to be considered a “good” sign.

Could the real reason be that the NYSE (aka NYSE Euronext) was just approved, by shareholders, to take over one of Germany’s stock markets: Deutsche Boerse AG.

The take over still needs approval of Deutsche Boerse shareholders.

This seems to be a more likely reason for the upswing in the NYSE trades, because Germany is the only economic powerhouse left in the European Union, thanks to its many trade deals with China.

According to the NYSE website, “…NYSE Euronext’s equities markets include the New York Stock Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca.  NYSE Euronext also operates NYSE Liffe, a European derivatives business.”

The Dow Jones is a stock market index, which includes the NYSE Euronext trades in its daily reporting.