Gold Bugs Demand a Recount: Euro Banking Crisis Fails to Lift Metal -- and Other News Told in Charts
Well, this is weird. Greece may withdraw from the euro zone. Spanish banks are teetering. And gold prices are going... down? Despite the kind of panic-inducing news that usually attracts gold bugs, prices have slid 7% this month and 1% this year, reports the WSJ. Skittish investors looking for a safe haven are heading instead to U.S. Treasurys and German bonds.
It's Official: Your BlackBerry Is Now Dweebier Than a Pocket Protector
Research in Motion (RIMM), which made the BlackBerry you used to carry around before you bought an iPhone, is in worse shape than previously thought. As the New York Times reports, the company warned investors to expect a second quarterly loss next month and said it had hired bankers at JP Morgan (JPM) and the Royal Bank of Canada (RY) to conduct a strategic review. One analyst, speaking to Reuters, called the situation a “disaster.” The charts agree:
Facebook Trades Below $30
Facebook (FB), which was briefly worth $104 billion not long ago, has fallen 24% since its initial public offering on May 18. According to the WSJ, data tracker Dealogic says Facebook’s debut ranks as one of the worst of any large company. Shares slid 10% after options on the stock started trading.
Wells Fargo Paying $432 Million To Make Discriminatory Lending Suit Go Away
Wells Fargo (WFC), the country’s largest mortgage originator, will spent $432 million to end a lawsuit that alleged discriminatory lending practices in Memphis, Tenn., Reuters reports. The suit, filed in 2010, had accused the bank of preying on African-American neighborhoods. The bank, which denied the allegations, also recently disclosed that the U.S. Department of Justice may seek fair lending-related damages and civil penalties.