Takeaways for Today (11/03/2007 and 11/04/2007)
Charles Prince resigned on Sunday as chairman and chief executive of Citigroup Inc, as the bank said it may write off $11 billion of subprime mortgage losses, on top of a $6.5 billion write-down last quarter.
Robert Rubin, the former U.S. Treasury Secretary who had chaired Citigroup's executive committee, was named chairman, while Sir Win Bischoff, who runs Citigroup's European operations, was named acting chief executive.
MySpace, others, showcase targeted web advertisingAs investors bet on the future of social networks, some of the biggest players in the field are due to unveil this week ways of piping in advertising to the most personal of media formats.
MySpace, the world's largest social network, is releasing on Monday details of how it is building discrete audiences out of nearly 110 million users worldwide in a format it calls HyperTargeting.
Petrochina's value tops $1 trillion, surpassing Exxon Mobil
PetroChina Co. surged past Exxon Mobil Corp. to become the world's first $1 trillion company as investors in China started trading the stock.
PetroChina's Class-A shares almost tripled on their Shanghai debut today, valuing the Beijing-based state-owned oil company at as much as $1.1 trillion, more than Exxon and General Electric Co. combined.
The price of a gallon of gasoline has jumped back up near $3 a gallon, according to a survey published Sunday.
The Lundberg Survey found the average price for a gallon of self-serve regular was $2.96 on Friday, up 16 cents from the previous survey two weeks earlier.
If crude oil prices don't retreat, gas prices could easily cross back over the $3 mark on average, said publisher Trilby Lundberg.
Prices reached an all-time high of $3.18 in May.
Labels: Takeaways for Today
This entry was posted by David Choi, on
Sunday, November 4, 2007.
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