The Nasdaq stock exchange will pay $40 million in compensation for troubled trades that occurred during Facebook's initial public offering. Nasdaq clients lost millions of dollars because of computer glitches. The opening trade was delayed by more than 30 minutes, and many investors were unsure if their trades had gone through.
New research shows that booms and busts in the housing industry help determine where high school students apply for college. Booms trigger applications to better colleges, busts to lesser quality schools.
The European Union is set to stop all purchases of Iranian oil on July 1. Exports are already down, and lower prices means less profit on sales that do go through. So far, Tehran refuses to budge on its nuclear activities. But analysts say Iran has no clear way around the boycott.
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