Facebook to buy back additional $9 billion of shares By Reuters

© Reuters. A picture illustration shows a Facebook logo reflected in a person’s eye, in Zenica (Reuters) – Facebook Inc (O:) will buy back an additional $9 billion of its shares, as it looks to pacify investors following a slump in its stock. The social media giant’s shares, which have tumbled more than 22 percent this year, rose nearly 1 percent in extended trading. The new program is in addition to a share buyback plan of up to $15 billion announced by the company last year. Facebook is being investigated…

Chinese police shut down 1,100 social media accounts: Xinhua By Reuters

© Reuters. Chinese police shut down 1,100 social media accounts: Xinhua BEIJING (Reuters) – Chinese police said on Saturday that it has closed 1,100 social media accounts, along with 31 websites, this year for unlawful activities such as trolling or blackmailing, the official Xinhua news agency reported. The police found that some social media accounts on Tencent’s Wechat and Sina-owned Weibo fabricated accusations against companies and individuals, Xinhua said, citing the Ministry of Public Security. These accounts then posted negative information online and demanded a ransom in exchange for deleting…

Uber makes confidential filing for long-awaited IPO By Reuters

© Reuters. FILE PHOTO: The Uber application is seen on a mobile phone in London By Joshua Franklin and Heather Somerville NEW YORK/SAN FRANCISCO, (Reuters) – Uber Technologies Inc has filed paperwork for an initial public offering, according to three people with knowledge of the matter, taking a step closer to a key milestone for one of the most closely watched and controversial companies in Silicon Valley. The ride-hailing company filed the confidential paperwork on Thursday, one of the sources said, in lock-step with its smaller U.S. rival, Lyft Inc,…

Emerging Market ETF Demand Shifting

It’s hard to say what ETF investors are really thinking about emerging markets these days, except perhaps that if it is to buy in at current levels, it might as well be in the cheapest possible funds. This focus on cost may stem from the fact that emerging market ETFs have struggled this year, and many of the big and broad market-cap-weighted funds remain in the red. November seems to have brought some sort of near-term bottom to some of the largest strategies—some have been saying it’s high time for…

India’s HCL to buy some IBM software assets for $1.8 billion; shares fall By Reuters

© Reuters. People walk in front of the HCL Technologies Ltd office at Noida By Krishna V Kurup (Reuters) – Indian software services firm HCL Technologies (NS:) agreed to buy some software assets from International Business Machines Corp (N:) for $1.80 billion to help it compete better with bigger rivals such as TCS (NS:) and Infosys Ltd (NS:). HCL shares fell as much as 7.7 percent to their lowest in five months. Some analysts said the deal did not make sense for HCL in the long term because it already…