Palm Inc., setting out to restore its status as a smart-phone innovator, introduced a touch-screen model called the Pre that’s aimed squarely at Apple Inc.’s best- selling iPhone. The shares surged 81 percent in two days.
Regulators should guard against a repeat of the May 6 selloff in U.S. stocks by imposing limits on how far shares can fall instead of halting trading, investors and a former Securities and Exchange Commission economist said.
The U.S. Securities and Exchange Commission has begun drafting more than 100 rules required by the Dodd-Frank Act with a vacancy atop the office that helps ensure its regulations can withstand court challenges.
A mutual fund’s routine effort to hedge against losses helped set off a chain of events that turned an orderly selloff on May 6 into a crash that erased $862 billion in U.S. equity value in less than 20 minutes, according to two people with direct knowledge of regulators’ findings.