Volkswagen AG dropped the most in almost seven years after it admitted to cheating on U.S. air pollution tests for years, risking billions in potential fines and a backlash from consumers in the world’s second-biggest car market.

The shares plunged as much as 22 percent to 126.40 euros, the steepest intraday decline since Oct. 24, 2008, extending the stock’s slump for the year to 32 percent. The drop wiped out about 16 billion euros ($18 billion) in value, making the Wolfsburg, Germany-based company worth 60.4 billion euros.

Volkswagen Chief Executive Officer Martin Winterkorn said on Sunday that the company is cooperating with the probe and ordered its own external investigation into the issue. The CEO said he was “deeply sorry” for breaking the public’s trust and that VW would do “everything necessary in order to reverse the damage this has caused.”

Winterkorn, whose contract renewal is scheduled for a supervisory board vote on Friday, now faces a serious challenge to his leadership, said Arndt Ellinghorst, a London-based analyst for Evercore ISI.

“This latest saga may help catalyze further management changes at VW,” Ellinghorst wrote in a note Monday.

 

Ask us about our FREE financial advice program: ChatButton

 

Other Top Stories:

Will Twitter's Share Crash?

Technical Analysis Lesson 1 - Introduction

How I Made Over $30,000 a Year by Investing in Binary Options

 

Follow us and SHARE this story on Facebook:   

 

 

 

When Alibaba conducted its IPO in September 2014 it was every bit the blockbuster anticipated, selling more shares at a higher price than planned and surging more than 35% when it opened for trading. A year later though, the stock has stumbled below its $68 offering price and become a flashpoint for fierce debate between bulls and bears.

The summer of 2015 has turned up the heat on Alibaba, culminating in last weekend’s critical Barron’s cover story chronicling issues ranging from the company’s problems with counterfeit goods to corporate governance and its lofty market valuation (even with shares already well below their peak). In a point-by-point rebuttal, Alibaba argued that its valuation is much closer to eBay EBAY at a comparable period in that company’s growth cycle and that it has taken substantial steps to identify and penalize merchants dealing in fake goods.

Bulls were quick to defend Alibaba, pointing to past examples of poorly-timed market and stock calls from various financial publications over the years. But many of the issues raised by Barron’s are not easily dismissed.

There is no telling what will happen with Alibaba’s stock, but whatever it is, you can definitely make some money from predicting it correctly. Wait for our signals before making your move!

 

 

Ask us about our FREE financial advice program: ChatButton

 

Other Top Stories:

Will Twitter's Share Crash?

Technical Analysis Lesson 1 - Introduction

How I Made Over $30,000 a Year by Investing in Binary Options

 

Follow us and SHARE this story on Facebook:   

 

 

 

Yesterday we made a poll asking YOU what you think that will happen to the EUR/USD following the Fed’s announcement. This is what you said:

 

Well, you guys predicted the correct result, that the EUR/USD will go up!

European stocks fell on Friday and bonds rose, pushing yields sharply lower, after the U.S. Federal Reserve cited weakening global growth and the recent upsurge in financial market volatility as its reasons for not raising interest rates.

Stocks and currencies in emerging markets, however, which are more vulnerable to higher U.S. interest rates, welcomed the Fed's decision on Thursday to postpone "lift off" for at least another month, and rose across the board.

 

Ask us about our FREE financial advice program: ChatButton

 

Other Top Stories:

Will Twitter's Share Crash?

Technical Analysis Lesson 1 - Introduction

How I Made Over $30,000 a Year by Investing in Binary Options

 

Follow us and SHARE this story on Facebook:   

 

 

 

U.S. stock futures were lower Thursday while global stock markets wavered as investors bet that the Federal Reserve would not raise interest rates.

Stocks rallied Wednesday afternoon after the Fed kicked off its long-awaited two-day policy meeting.

Two months ago, it seemed almost certain that the Fed was going to raise rates in September, but following turmoil in financial markets and concerns about China’s economy, more investors believe the Fed will wait until December to raise rates.

Interest rates have been near zero since 2008 in response to the financial crisis and recession. The Fed’s low interest rate policy was designed to encourage lending, but it also helped drive a seven-year bull market in stocks.

 

Ask us about our FREE financial advice program: ChatButton

 

Other Top Stories:

Will Twitter's Share Crash?

Technical Analysis Lesson 1 - Introduction

How I Made Over $30,000 a Year by Investing in Binary Options

 

Follow us and SHARE this story on Facebook:   

 

 

 

Facebook is finally going to do it -- it's finally going to make a "Dislike" button.

"We have an idea that we're going to be ready to test soon, and depending on how that does, we'll roll it out more broadly," Facebook CEO Mark Zuckerberg said during a townhall Q&A at Facebook's headquarters on Tuesday.

He said making something so "simple" is surprisingly complicated, but after years of people demanding the option to "dislike" a Facebook post, the company is finally ready.

The company had hesitated to launch a dislike button, but it has realized that people want to "express empathy" on posts about unpleasant news. "Not every moment is a good moment," he added.

Zuckerberg, who was recently named the most powerful person in business and media by Vanity Fair, has been holding town halls like these regularly. He says it's an opportunity for him to update Facebook (FB, Tech30) users on how the company is working to make new services.

Later this month, Zuckerberg will host another townhall-style Q&A with a guest -- Indian Prime Minister Narendra Modi. The two will discuss "how communities can work together to address social and economic challenges."

 

 

 

Ask us about our FREE financial advice program: ChatButton

 

Other Top Stories:

Will Twitter's Share Crash?

Technical Analysis Lesson 1 - Introduction

How I Made Over $30,000 a Year by Investing in Binary Options

 

Follow us and SHARE this story on Facebook:   

 

 

 

Subcategories

Please publish modules in offcanvas position.