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Stock exchange operator Nasdaq OMX is cancelling a series of premarket trades that resulted in wild price swings in a number of stocks including Citigroup and Hewlett-Packard , the exchange said in a statement. Nasdaq said it is cancelling trades in nine stocks that saw trades take place at a price 10 percent or more away from the previous day’s closing. “We have no comment further than our ruling,” said Robert Madden, Nasdaq OMX spokesman. Trades executed in the last minute of premarket trading on a third-party platform show wild swings in shares. Hewlett-Packard, for instance, closed on Wednesday at [...]

U.S. securities regulators on Wednesday charged a Wells Fargo investment banker and nine others for their alleged role in an insider-trading ring that earned more than $ 11 million by trading on tips about impending mergers. The Securities and Exchange Commission said that John Femenia, 30, misused his position at a unit of Wells Fargo to obtain material, non-public information about four different mergers involving firm clients. The SEC said Femenia then tipped his friend, Shawn Hegedus, a registered broker-dealer. The SEC says the two then tipped other friends, resulting in an insider-trading ring that spread across five states. (Reporting by Sarah N. Lynch; Editing by Phil Berlowitz)

U.S. securities regulators on Wednesday charged a Wells Fargo investment banker and nine others for their alleged role in an insider-trading ring that earned more than $ 11 million by trading on tips about impending mergers. The Securities and Exchange Commission said that John Femenia, 30, misused his position at a unit of Wells Fargo to obtain material, non-public information about four different mergers involving firm clients. The SEC said Femenia then tipped his friend, Shawn Hegedus, a registered broker-dealer. The SEC says the two then tipped other friends, resulting in a “massive, serial insider-trading ring” that spread across five [...]

Pre-Holiday Planning Want to save a little money on the holidays this year? The best tips are the old standbys: Start early, stock up and be flexible. But don’t be afraid to brainstorm a few low-cost alternatives to some of your pricier holiday habits. “Everybody’s looking at their pocketbook,” says Jill Gianola, CFP professional and author of “The Young Couple’s Guide to Growing Rich Together.” If you’re thinking about it, “chances are someone else in the family is, too,” she says. So don’t panic if you think the family is expecting piles of presents or a costly trip. Look at [...]

Last year, U.S. exports to China topped $ 100 billion for the first time. The country is now the third-largest importer of U.S. goods, behind Canada and Mexico. The total value of products being shipped to China is growing faster than any other country in the world. For many U.S. cities, China is the largest and fastest-growing importer of goods and services. In 2011, crop production, computers and electronics, chemicals and transportation equipment were the four largest exports to the country. While not the biggest overall, China is the largest recipient of U.S. goods from 28 separate states. It is [...]

Over 40 mpg and loving the ride If you’re tired of high gas prices that empty your wallet every time you fill up but don’t want to pay a premium for a hybrid, you’ll find these cars enticing. They’re all rated at 40 miles per gallon or better. Using technologies that make them fuel-efficient, these cars fill everyday driving needs while saving on gas. The pricing on these cars with a 40-mpg-or-better rating ranges from $ 12,445 to $ 19,455, making them easy on your new-car budget. Chevrolet Cruze Eco Fuel economy: 28 city and 42 highway mpg One car [...]

With gas prices stubbornly staying above $ 3 per gallon, you owe it to yourself to find ways you can save on the cost of driving. If you haven’t reviewed your car insurance in a while, you might be missing out on a wide range of valuable discounts. The marketplace for auto insurance has become so competitive that new car insurance discounts are advertised all the time, says Michael Barry, a spokesman for the industry group the Insurance Information Institute. Read on to see if you’re getting all your entitled savings. Keep in mind that some auto policy price breaks [...]

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