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REUTERS
MARKET EDGES UP, WALL STREET AWAITS FACEBOOK DEBUTNEW YORK (Reuters) - Stocks rose in early trading on Friday but were gearing up to close their worst week of the year, while Facebook's market debut could help lift battered investor sentiment....Date: 18 May 2012 10:40:00 ESTWALL STREET BANKS FACING SECOND-QUARTER SLOWDOWN: ANALYST(Reuters) - Wall Street banks will report sharp declines in trading and investment banking revenues in the second quarter because of weaker client activity, JPMorgan analyst Kian Abouhossein said in a report on Friday....Date: 18 May 2012 10:40:00 ESTINVESTORS EAGERLY AWAIT FACEBOOK DEBUT ON WALL STREET(Reuters) - Investors are bracing for Facebook's Wall Street debut on Friday after the pioneering online social network raised about $16 billion in one of the biggest initial public offerings in U.S. history....Date: 18 May 2012 10:23:00 ESTBOE'S POSEN TO BE NEXT PETERSON DIRECTOR - SOURCESWASHINGTON (Reuters) - The Peterson Institute was set to name Bank of England monetary policy adviser Adam Posen as its next director, replacing Fred Bergsten, sources with knowledge of the decision said on Friday....Date: 18 May 2012 10:23:00 ESTEAST EUROPE WARY OF FRESH EURO BANK CRUNCHLONDON (Reuters) - A new banking crunch in the euro zone risks another sharp retreat by western parent banks from vulnerable economies in central and eastern Europe, a process that must be slowed to preserve growth, officials from the region said on Friday....Date: 18 May 2012 10:23:00 ESTWALL STREET OPENS HIGHER, FACEBOOK AWAITEDNEW YORK (Reuters) - U.S. stocks opened higher on Friday, with the imminent market debut of Facebook helping to lift battered investor sentiment....Date: 18 May 2012 10:06:00 ESTWALL STREET TO RISE AFTER STEEP DECLINE AS FACEBOOK DEBUTSNEW YORK (Reuters) - U.S. stocks were set to open higher on Friday but major indexes were still setting up to close their worst week of the year, while Facebook's market debut could help lift battered investor sentiment....Date: 18 May 2012 09:49:00 ESTEUROPE THINKS THE UNTHINKABLE ON GREECEBRUSSELS/LONDON (Reuters) - European officials are working on contingency plans in case Greece bombs out of the euro zone, the EU's trade commissioner said on Friday, while Berlin said it was prepared for all eventualities....Date: 18 May 2012 09:49:00 ESTEX-MINER ABBOTT MAY COLLECT MILLIONS FROM LME SALELONDON (Reuters) - From straitened origins in coal mining and the rag trade, Martin Abbott is in line for a major windfall as the 135-year-old London Metal Exchange goes under the hammer....Date: 18 May 2012 09:49:00 ESTBRISTOL AIRPORT UNDER PRESSURE TO REFINANCE DEBTLONDON (Reuters) - The owners of Bristol Airport may have to stump up some cash to help with the refinancing of 515 million pounds ($814 million) of debt which falls due next year, banking sources said on Friday....Date: 18 May 2012 09:49:00 ESTSHELL'S MAJNOON DEAL HIGHLIGHTS IRAQ OIL TARGET VERDICTLONDON (Reuters) - Shell is pressing ahead with talks over final development of Iraq's Majnoon oilfield, a senior executive told Reuters, and a lower, more realistic oil production target is a core part of discussions....Date: 18 May 2012 09:32:04 ESTEBRD TO INVEST 6.5 BILLION EUROS IN SUSTAINABLE ENERGYLONDON (Reuters) - The European Bank for Reconstruction and Development plans to invest up to 6.5 billion euros (5.21 billion pounds) in sustainable energy projects in the next three years, to deliver a significant cut in carbon emissions, it said on Friday....Date: 18 May 2012 08:58:01 ESTSTOCKS FUTURES RISE, MARKETS TO CLOSE WORST WEEK OF YEARNEW YORK (Reuters) - Stock index futures edged up on Friday but major indexes were setting up to close their worst week of the year, while Facebook's debut could help lift battered investor sentiment....Date: 18 May 2012 08:24:00 ESTBMW EYES NEW PRODUCTION SITES ABROAD: SOURCEMUNICH (Reuters) - Premium carmaker BMW is considering new production sites around the world, with one option being Mexico, a person familiar with the situation told Reuters on Friday....Date: 18 May 2012 08:24:00 ESTITALY TO KEEP DEBT PROFILE OUTSIDE RISKIER AREAMILAN (Reuters) - The average lifespan of Italian debt, which has fallen during the euro zone crisis as investors favor safer short-term issues, should still be close to the current level of 6.8 years at the end of 2012, a top Italian debt official said....Date: 18 May 2012 08:24:00 ESTGRAFF BRAVES VOLATILE MARKETS WITH $1 BILLION HK IPOHONG KONG (Reuters) - High-end jeweller Graff Diamonds is forging ahead with an initial public offering to raise up to $1 billion (632 million pounds), setting a price range on Friday for its Hong Kong flotation despite a sell-off in equity markets....Date: 18 May 2012 08:24:00 ESTBANKS' RISING BAD LOANS ADD TO SPANISH TROUBLESMADRID (Reuters) - Spanish bank bad loans rose in March to their highest in 18 years, figures from the Bank of Spain showed on Friday, underscoring the problems facing the government as it attempts to clean up the sector and get its economy back on track....Date: 18 May 2012 08:07:00 ESTSTOCK FUTURES GAIN, STOCKS TO CLOSE WORST WEEK OF YEARNEW YORK (Reuters) - Stock index futures edged up on Friday following five days of losses on the S&P 500, but major indexes were setting up to close their worst week of the year....Date: 18 May 2012 07:50:00 ESTGREEK CONTAGION THREAT PUSHES GLOBAL SHARES INTO RED FOR YEARLONDON (Reuters) - World shares slid and German borrowing costs hit record lows on Friday as a deepening Spanish banking crisis, uncertainty about Greece's future in the euro zone and lackluster U.S. data bolstered safe-haven assets....Date: 18 May 2012 07:50:00 ESTFTSE AT 6-MONTH LOW ON FEARS OVER EUROPELONDON (Reuters) - The top share index fell to its lowest level since late November on Friday, as growing fears over the Greek and Spanish economies hit markets and heavyweight financial and commodities stocks....Date: 18 May 2012 07:16:00 EST
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ASSOCIATED PRESS
UNEMPLOYMENT RATES FALL IN TWO-THIRDS OF US STATESWASHINGTON (AP) -- Unemployment rates fell in two-thirds of U.S. states last month, evidence that modest economic growth is boosting hiring in most areas of the country.......Date: 18 May 2012 10:40:01 ESTUS STOCKS EDGE HIGHER AHEAD OF FACEBOOK IPOExcitement about Facebook's initial public offering is helping drive U.S. stocks slightly higher at the opening bell.......Date: 18 May 2012 10:06:01 ESTFACEBOOK IPO LIVE: THE SOCIAL NETWORK GOES PUBLICIt's Facebook's big day.......Date: 18 May 2012 08:41:01 ESTUS FUTURES SET TO REBOUND AS G-8 LEADERS GATHERNEW YORK (AP) -- U.S. stock futures are rebounding as leaders of eight of the world's biggest economies begin to gather outside of Washington to determine how best to limit damage from the debt crises rattling Europe.......Date: 18 May 2012 08:07:01 ESTSPANISH STOCKS FOCUS OF INVESTOR CONCERNMADRID (AP) -- The level of bad loans on the books of Spain's banks has risen to an 18-year high, the country's central banker reported Friday, increasing concern for the stability of Spain's financial sector and the country's place in the fragile eurozone economy.......Date: 18 May 2012 07:50:03 ESTEUROPE WOES KEEP MARKETS ON EDGELONDON (AP) -- Concerns that Europe's debt crisis could drag down parts of the continent's banking system rattled most global markets Friday, though social network Facebook's imminent IPO buoyed sentiment on Wall Street.......Date: 18 May 2012 07:50:03 ESTREPORT: HSBC SAYS REGULATIONS MAY PROMPT UK EXITLONDON (AP) -- HSBC may decide to sell its U.K. retail banking operations, depending on the impact of yet to be announced new banking regulations, published reports say.......Date: 18 May 2012 07:50:03 ESTVIETNAM ARRESTS 4 SHIPPING EXECS IN SCANDALHANOI, Vietnam (AP) -- State media say police have arrested four senior executives at a major state-owned shipping company for alleged mismanagement.......Date: 18 May 2012 07:50:02 ESTGREECE TO DISSOLVE PARLIAMENT FOR NEW ELECTIONATHENS, Greece (AP) -- Greece's Parliament is to be dissolved so new elections can be held June 17.......Date: 18 May 2012 06:08:01 ESTSPAIN STOCKS EXTEND LOSING STREAK AFTER DOWNGRADEMADRID (AP) -- Spain's stock market flirted with seven-year lows Friday as investors continued to worry about the stability of the eurozone's financial system in light of the downgrading by credit ratings agency Moody's of the country's banking industry.......Date: 18 May 2012 06:08:01 ESTWORLD STOCK MARKETS SINK ON US, EUROPE WORRIESBANGKOK (AP) -- World stocks fell Friday after credit downgrades slapped on Spanish banks unnerved investors already worried about the stability of the 17-country euro currency union.......Date: 18 May 2012 05:17:01 ESTCHINA REJECTS US RULING IN SOLAR DUMPING CASEBEIJING (AP) -- China's government on Friday rejected a U.S. antidumping ruling against its makers of solar power equipment and Chinese manufacturers warned proposed punitive tariffs might hurt efforts to promote clean energy.......Date: 18 May 2012 04:09:01 ESTSPAIN STOCKS FALL SHARPLY AFTER MOODY'S DOWNGRADEMADRID (AP) -- Spanish stocks dropped sharply early Friday morning after ratings agency Moody's downgraded its credit score of 16 Spanish banks in the latest blow to the troubled financial sector.......Date: 18 May 2012 03:52:02 ESTOIL FALLS TO NEAR $92 AFTER SHARP 2-WEEK SELLOFFSINGAPORE (AP) -- Oil prices fell to near $92 a barrel Friday in Asia, extending a sharp two-week selloff as the latest twists in Europe's debt crisis added to a gloomy economic outlook.......Date: 18 May 2012 03:52:02 ESTFACEBOOK FACE-OFF: PRESS THE 'LIKE' BUTTON, SOONSAN FRANCISCO (AP) -- EDITOR'S NOTE - Facebook begins selling stock to the public Friday in the most talked-about market debut in years. Two Associated Press business writers are debating whether the stock is a smart buy.......Date: 18 May 2012 03:18:01 ESTFACEBOOK FACE-OFF: STEER CLEAR OF THE HYPENEW YORK (AP) -- EDITOR'S NOTE - Facebook begins selling stock to the public Friday in the most talked-about market debut in years. Two Associated Press business writers are debating whether the stock is a smart buy.......Date: 18 May 2012 03:18:01 ESTCHINESE SOLAR MAKERS REJECT US DUMPING RULINGBEIJING (AP) -- Chinese producers of solar power equipment on Friday rejected an American anti-dumping ruling in a case that threatens to worsen U.S.-Chinese tensions. They warned proposed punitive tariffs might hurt efforts to promote clean energy.......Date: 18 May 2012 03:18:01 ESTGLOBAL LEADERS SEEK TO CORRAL EUROPE CRISISWASHINGTON (AP) -- The leaders of eight of the world's biggest economies meet this weekend outside Washington, seeking to keep Europe's debt crisis from spiraling out of control and jeopardizing fledgling recoveries in the U.S. and elsewhere.......Date: 18 May 2012 01:36:04 ESTCHINA SHADOW LOOMING, TAIWAN'S MA SET FOR 2ND TERMTAIPEI, Taiwan (AP) -- Taiwan President Ma Ying-jeou has leveraged growing economic ties with China to reduce tensions to their lowest level since the two sides split in 1949. China's incessant effort to draw the democratic island closer politically has been on the back burner, and as Ma's secon...Date: 18 May 2012 01:36:04 ESTJAPAN LAUNCHES ROCKET WITH FIRST FOREIGN SATELLITETOKYO (AP) -- A rocket has lifted off in Japan in the country's first commercial launch of a foreign satellite - one from South Korea designed to monitor the environment.......Date: 18 May 2012 01:19:01 EST -
WALL STREET JOURNAL
STOCKS TRADE FLATU.S. stocks were little changed as optimism ahead of the much-anticipated trading debut of Facebook shares helped distract investors from increasing concerns over contagion risk from Greece....Date: 18 May 2012 10:57:02 ESTBAD LOANS DOG SPANISH BANKSSpanish banks' bad debts rose to a 17-year high in March and the cost of insuring the debt of two major banks against default hit a record....Date: 18 May 2012 10:40:02 ESTSTOCKS OPEN FLATU.S. stocks opened little changed as optimism ahead of the much-anticipated trading debut of Facebook shares was offset by increased concerns about contagion from Greece....Date: 18 May 2012 10:06:02 ESTSPANISH BAD LOANS REACH 17-YEAR HIGHSpanish banks' bad debts rose to a 17-year high in March and the cost of insuring the debt of two major banks against default hit a record....Date: 18 May 2012 09:49:02 ESTDEFIANT MESSAGE FROM GREECEAlexis Tsipras, head of Greece's radical left party, said in an interview with the Journal that there is little chance Europe will cut off funding to the country and if it does, Greece will repudiate its debts....Date: 18 May 2012 09:32:06 ESTDATA DISCOVERY LED NY FED TO POSTPONE MAIDEN LANE SALEThe New York Fed postponed an auction of $1.67 billion of complex mortgage-linked bonds on Thursday after it became aware that some information about the securities had not been made available to bidders....Date: 18 May 2012 09:32:06 ESTGROUPON STOCK SPIKE PROBEDA Wall Street regulator is examining trading in Groupon Inc. that sent its stock price soaring hours before a favorable earnings announcement Monday....Date: 18 May 2012 08:58:02 EST$1 BILLION CLUB GETS CROWDEDAt least 20 closely held U.S. start-ups backed by venture capital are now valued at $1 billion or more, Pinterest and Evernote among them. During the frothy days of the 1990s dot-com bubble, there were just 18 such start-ups valued at $1 billion or more....Date: 18 May 2012 08:58:02 ESTSTOCK FUTURES CLIMBU.S. stock futures rose as the paring of losses in Europe give investor sentiment a lift ahead of the much-anticipated trading debut of Facebook shares....Date: 18 May 2012 08:41:01 ESTEURO, AUSTRALIAN DOLLAR RECOVERThe euro and Australian dollar steadied after sinking in early trade against safer bets such as the yen and dollar....Date: 18 May 2012 07:50:04 ESTCHINA: SOLAR-PANEL TARIFF MAY BACKFIREChina unleashed a storm of protest criticizing the U.S. decision to impose a 31% antidumping tariff on Chinese solar-panel makers....Date: 18 May 2012 07:50:04 ESTYIELDS SINK ON HAVEN BONDSNervous investors piled into haven bonds, pushing short-term German yields close to zero, as a raft of Spanish bank downgrades further jolted sentiment already weakened by fears of a Greek exit from the euro zone....Date: 18 May 2012 07:33:01 ESTSTOCK FUTURES EDGE UPU.S. stock futures gained ground as investors looked ahead to Facebook's initial public offering, although worries about Europe threatened to cast a cloud over the much-anticipated trading debut....Date: 18 May 2012 06:59:02 ESTSPANISH BAD LOANS HIT 17-YEAR HIGHBad debts held by Spanish banks rose to a 17-year high in March and the cost of insuring the debt of two major Spanish banks against default hit a record....Date: 18 May 2012 06:59:02 ESTUPROAR OVER CME TRADING HOURSA plan by the Chicago exchange company to allow nearly round-the-clock electronic trading on its Chicago Board of Trade is drawing fire from brokers, farmers and floor traders....Date: 18 May 2012 06:59:02 ESTBATS BATS ITS EYES AT RIVALSBATS's board is debating whether to list the company on a rival exchange once it revisits plans for an IPO, a step that would further undermine its bid to challenge the Big Board and Nasdaq....Date: 18 May 2012 06:25:02 ESTMORE REBUKES ON PAY IN U.K.In the escalating revolt that has already chastened the management of several high-profile U.K. businesses, a majority of shareholders at Cairn Energy voted against the company's pay report, as did 30% at insurer Prudential....Date: 18 May 2012 03:18:02 ESTH-P TO SLASH WORK FORCEHewlett-Packard plans to cut its workforce by 25,000 to 30,000 employees, a record number for the venerable tech giant as it grapples with declining revenue and profits....Date: 18 May 2012 03:18:01 ESTASIAN SHARES SLUMPAsian markets fell heavily Friday, with Japan, Australia and Hong Kong all hitting four-month lows, as poor U.S. manufacturing data added to rising worries over Europe....Date: 18 May 2012 01:02:02 ESTJAPAN'S BIGGEST BANK FREEZES TRANSACTIONS WITH IRANIn an action unrelated to U.S. sanctions against Tehran, Bank of Tokyo-Mitsubishi UFJ said it has frozen financial transactions with Iran's government and central bank, as ordered by a U.S. federal court....Date: 17 May 2012 22:34:05 EST
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FINANCIAL TIMES
SPAIN HIT BY RISE IN BAD BANK LOANSValue of bad loans held by banking sector increased by a third over the last year to €148bn, and accounted for 8.4% of their entire loan portfolios...Date: 18 May 2012 09:49:03 ESTSPAIN TAPS GOLDMAN TO VALUE BANKIAUS investment bank will advise on the recapitalisation of the part-nationalised bank, with analysts predicting it will need up to €15bn in new equity...Date: 18 May 2012 08:07:06 ESTCHINA PROPERTY PRICES EXTEND DECLINEAverage home prices in 46 out of 70 Chinese cities fell in April, indicating that prospects for a rebound remain distant for a key driver of growth...Date: 18 May 2012 07:16:03 ESTSPANISH BANKS DEFY MOODY’S DOWNGRADEBankia rises over 30% in early trading, helped by reports that the government has hired Goldman to carry out an independent valuation...Date: 18 May 2012 06:42:04 ESTFACEBOOK TRADING LIKELY TO BE VOLATILESome experts predict that the strong initial pricing of the social networking group’s shares will limit their first day “pop”...Date: 18 May 2012 06:42:04 ESTGLOBAL EQUITIES EXTEND LOSING STREAKGrowth assets shunned as investors fret about the future of the eurozone and the global economy, sending yields on German Bunds to record lows...Date: 18 May 2012 04:09:04 ESTGLOBAL EQUITES EXTEND LOSING STREAKGrowth assets were shunned again as investors fret about the future of the eurozone and the global economy, sending yields on German Bunds to record lows...Date: 18 May 2012 03:35:06 ESTSHARES STILL SLUMPING ON EUROZONE FEARSGrowth assets are being shunned as the focus of eurozone woes shifts to the Spanish banking system,....Date: 18 May 2012 03:18:03 ESTASIAN SHARES DROP ON EUROZONE FEARSJapan’s Nikkei 225 falls to a four-month low as investors dump risk assets...Date: 18 May 2012 02:44:04 ESTFACEBOOK VALUED AT $104BN IN IPOFacebook will vault into the ranks of top 25 most valuable public companies in the US after pricing its offering at the top of the range...Date: 18 May 2012 02:27:04 ESTTWO TIERS, ONE CRISIS FOR SPANISH BANKSDespite the markets now drawing a clear distinction between the country’s strong Big Three and other weaker lenders, risks remain for all...Date: 17 May 2012 22:51:03 EST‘FB’ TRADING LIKELY TO BE VOLATILESome experts predict that the strong initial pricing of the social networking group’s shares will tamp down their first day “pop”...Date: 17 May 2012 22:51:03 ESTINVESTORS BET ON FACEBOOK AS GATEKEEPERAOL and Yahoo both once vied for the role of acting as the first stop online for accessing information and communicating with friends and family...Date: 17 May 2012 22:51:03 ESTJPMORGAN UNIT HAS $100BN OF RISKY BONDSChief investment office that lost $2bn builds up huge positions in complex products at the heart of 2008 crash – but bank plans to lower its exposure...Date: 17 May 2012 22:51:03 ESTDIMON TO TESTIFY BEFORE SENATEJamie Dimon will appear before the upper house’s banking committee in the wake of his bank’s $2bn trading losses on credit derivatives...Date: 17 May 2012 22:51:03 ESTINVESTOR ANGER HITS CAIRN, PRU AND COOKSONFor the first time in Britain’s decade-long history of having a say on pay, shareholders have rejected out of hand the plans of two companies in a single year...Date: 17 May 2012 18:36:05 ESTLME’S SUITORS’ BIDS PASS £1BN MARKThe IntercontinentalExchange, Hong Kong Exchanges & Clearing and CME Group have all promised to preserve the historic bourse’s open outcry trading pit...Date: 17 May 2012 18:02:10 ESTUK IN COLD WAR DOCTRINE RETHINKDebate has far-reaching implications for country’s nuclear capability and questions the so-called Moscow Criterion, which some see as a relic of the cold war...Date: 17 May 2012 17:45:23 ESTFACEBOOK PRICES SHARES AT $38 EACHFacebook will vault into the ranks of top 25 most valuable public companies in the US after pricing its offering at the top of the range...Date: 17 May 2012 17:11:11 ESTMERKEL FACES G8 ISOLATION ON EUROZONEBilled as a euro crisis summit, world leaders at Camp David are expected to push the German chancellor on measures to stimulate growth in Europe...Date: 17 May 2012 17:11:11 EST -
BUSINESS WEEK
THE TEA PARTY SETS ITS SIGHTS ON THE SENATEThe Tea Party booted Richard Lugar from the Senate. They're just getting warmed up...Date: 18 May 2012 07:50:23 ESTNINE THINGS YOU SHOULD KNOW ABOUT FACEBOOK'S IPOBefore diverting your child's college savings fund to invest in Facebook stock, read our take on the biggest "liquidity event" of the social-media era...Date: 18 May 2012 07:50:22 ESTHUGO CHÁVEZ'S ENEMY NO. 1For the first time, Venezuela's president has a real rival. And as Henrique Capriles grows more popular, the tension—and danger—mount...Date: 17 May 2012 21:43:19 ESTWALKING SHOES THAT SPY ON GRANDMATwo small U.S. companies recently launched a line of footwear that uses a GPS device embedded in the heel to track seniors...Date: 17 May 2012 18:36:19 ESTLESSONS FROM A HEDGE FUND CONFERENCEAn investing conference shows that hedge fund managers are human, occasionally funny, and pessimistic...Date: 17 May 2012 18:36:18 ESTTHE IVY LEAGUE'S 2012 PRESIDENTIAL PICKEmployees of the nation's most prestigious colleges have a favorite presidential candidate for 2012...Date: 17 May 2012 18:36:18 ESTTHE FISCAL CLIFF WILL DRIVE THE U.S. INTO RECESSIONGoldman Sachs has run an economic crash test on the looming fiscal cliff. It doesn't look good...Date: 17 May 2012 18:02:27 ESTMARIO BATALI'S FOOD-STAMP BUDGET RICE AND BEANSThe celebrity chef and host of The Chew offers up a meal that costs $1.45...Date: 17 May 2012 17:11:22 ESTWHY WARREN BUFFETT REALLY LIKES NEWSPAPERSHis affection for print isn't purely sentimental...Date: 17 May 2012 14:55:25 ESTARE YOU BUYING A JOB OR A PROFITABLE BUSINESS?Find out if the owner was compensated and what's prompting her to sell. Then get an accountant to help you go through the company's books...Date: 17 May 2012 13:13:18 ESTHOW MARK ZUCKERBERG HACKED THE VALLEYOn the eve of Facebook's IPO, a look at the daring decisions that took the social network's price tag from $1 billion to about 100 times as much...Date: 17 May 2012 07:50:22 ESTTHE HUBRIS OF JAMIE DIMONThe JPMorgan chief who thought he had everything under control just lost $2 billion—and it could happen again...Date: 17 May 2012 07:50:22 ESTIN CHINA, ECONOMICS IS POLITICSThe ruling elite thrived as long as it delivered growth. Now the growth is in question...Date: 17 May 2012 02:10:22 ESTTHERE'S NO GENTLE WAY FOR GREECE TO EXIT THE EUROThe man responsible for ditching Argentina's convertibility law has some advice for Greece...Date: 16 May 2012 22:51:16 ESTIS FACEBOOK SUCKING OXYGEN OUT OF THE IPO MARKET?Despite the biggest tech IPO ever, the flagging stock market has prompted an increasing number of companies to halt plans to go public...Date: 16 May 2012 22:51:16 ESTBOOK REVIEW: 'BIRDSEYE,' BY MARK KURLANSKYFrozen food innovator Clarence Birdseye changed the way we eat...Date: 16 May 2012 15:46:18 ESTIN CHINA ECONOMICS IS POLITICSThe ruling elite thrived as long as it delivered growth. Now the growth is in question...Date: 16 May 2012 14:38:25 ESTSAFFRON COSTLIER (AND TASTIER) THAN GOLD IN MOST EXPENSIVE HOT DOGGold can glitz up any ordinary food, but doesn't offer anything in the way of nutrition...Date: 16 May 2012 12:22:24 ESTHP SIZED UP SUN AS A TECHNOLOGY GOLD MINEThe most interesting part of HP's assessment is how critical its executives were of their own technology...Date: 16 May 2012 10:57:13 ESTIS GOOGLE+ A GHOST TOWN, AND DOES IT MATTER?A new study suggests that Google's social network is a virtual ghost town, where user engagement is rapidly waning...Date: 16 May 2012 07:50:26 EST -
SKY NEWS
FACEBOOK FLOATS: SHARE TRADING DELAYED IN USTrading in Facebook shares has been delayed on the Nasdaq in New York, in one of the most hotly-anticipated US stock market flotations....Date: 18 May 2012 11:14:10 ESTPARENTS SHOULDER BILLS FOR 40-YEAR-OLD KIDSAdults in their 30s and 40s are increasingly becoming 'credit virgins' as their parents continue to pay their bills and take out loans on their behalf, according to new research....Date: 18 May 2012 08:41:04 ESTNORTHERN ROCK RESCUE 'COSTS TAXPAYER £2BN'The rescue of the collapsed bank Northern Rock is likely to cost the taxpayer at least £2bn, a report has revealed....Date: 18 May 2012 05:51:03 ESTEURO CRISIS: MARKETS TUMBLE AFTER DOWNGRADESWorld stock markets are suffering further steep falls as a result of the eurozone debt crisis after downgrades in the credit ratings of Greece and 16 Spanish banks....Date: 18 May 2012 05:00:17 ESTEURO CRISIS: MARKET MAYHEM AFTER DOWNGRADESWorld stock markets are suffering further steep falls as a result of the eurozone debt crisis after downgrades in the credit ratings of Greece and 16 Spanish banks....Date: 18 May 2012 03:18:03 ESTGREEK VOTERS MOVE TO CENTRE AMID DOWNGRADEGreece's credit rating has been downgraded due to the "heightened risk" that the political and economic crisis could drag the country out of the euro....Date: 17 May 2012 23:25:06 ESTCAMERON TAKES EUROZONE DEMANDS TO US SUMMITDavid Cameron is set to step up his demands for action to tackle the eurozone crisis as he heads to the United States for a two-summit weekend with world leaders....Date: 17 May 2012 23:25:06 ESTFACEBOOK FRENZY PEAKS WITH $100BN FLOTATIONThe frenzy of hype and excitement surrounding the flotation of Facebook peaks this morning as its shares go on offer in the biggest flotation of an internet-based company in history....Date: 17 May 2012 23:25:05 ESTEURO CRISIS: SIXTEEN SPANISH BANKS DOWNGRADEDSixteen Spanish banks have been downgraded by credit rating agency Moody's, as the country's government intervened to deny reports of a run on troubled lender Bankia....Date: 17 May 2012 19:27:13 ESTCAMERON FINDS UNLIKELY ECONOMIC BEDFELLOWIt might seem unlikely, but David Cameron has come out in support of the new French socialist president's controversial idea for a euro growth pact....Date: 17 May 2012 18:02:12 ESTFACEBOOK PRICES MASSIVE IPO AT $38 PER SHAREFacebook has announced a price of $38 per share for its record-breaking floatation, valuing the social network at $104bn (£65bn)....Date: 17 May 2012 16:54:07 ESTPM INSISTS EUROZONE NEEDS 'DECISIVE ACTION'David Cameron has insisted that "decisive action" is needed for eurozone stability on a conference call with fellow European leaders to discuss the Greek crisis....Date: 17 May 2012 16:37:06 ESTBLOW TO GREEK ECONOMY AS CREDIT RATING CUTGreece's stumbling economy has suffered a further blow after the Fitch ratings agency downgraded the country's credit rating to CCC from B-minus....Date: 17 May 2012 15:12:12 ESTEURO CRISIS: 'RUN' ON TROUBLED SPANISH BANKThe Spanish Government has intervened to deny reports of a run on troubled lender Bankia, after a shareholder rush for the exit....Date: 17 May 2012 08:41:05 ESTEUROZONE CRISIS: SPAIN 'IS THE REAL CONCERN'While Greece teeters on a possible exit from the euro there is a growing market focus on debt-laden Spain's ability to avoid a financial abyss....Date: 17 May 2012 07:16:06 ESTCAMERON ISSUES STARK WARNING ON EURO CRISISDavid Cameron delivered a stark warning to eurozone countries and called on them to sort out the present crisis and uncertainty as a matter of urgency....Date: 17 May 2012 06:25:05 ESTVAUXHALL JOBS SAVED IN ELLESMERE DEALThe new Vauxhall Astra is to be built at Ellesmere Port, saving thousands of jobs and creating hundreds more, the company has confirmed....Date: 17 May 2012 06:08:04 ESTEURO CRISIS: SPAIN 'IS THE REAL CONCERN'While Greece teeters on a possible exit from the euro there is a growing market focus on debt-laden Spain's ability to avoid a financial abyss....Date: 17 May 2012 06:08:04 ESTVAUXHALL JOBS SECURED IN ELLESMERE DEALThe new Vauxhall Astra is to be built at Ellesmere Port, securing thousands of jobs and creating hundreds more, the company has confirmed....Date: 17 May 2012 05:51:04 ESTVAUXHALL JOBS SECURED IN ELLESMERE GM DEALThe new Vauxhall Astra is to be built at Ellesmere Port, securing thousands of jobs and creating hundreds more, the company has confirmed....Date: 17 May 2012 05:34:04 EST
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NEW YORK TIMES
DEALBOOK: LIVE BLOG: FACEBOOK’S MARKET DEBUTNo other market debut has matched the frenzy created by Facebook. DealBook’s live blog will be tracking reactions to the company’s I.P.O. throughout the day....Date: 18 May 2012 10:23:07 ESTWALL STREET LITTLE CHANGED BEFORE FACEBOOK DEBUTStocks on Wall Street opened barely on the plus side Friday but major indexes were still setting up to close their worst week of the year, despite Facebook’s debut....Date: 18 May 2012 10:23:07 ESTFIRMS TO INVEST IN FOOD PRODUCTION FOR WORLD’S POORNew Alliance for Food Security and Nutrition seeks provide aid to farmers like these in Ethiopia....Date: 18 May 2012 10:23:07 ESTDEALBOOK: GRAFF DIAMONDS SAID TO MOVE CLOSER TO $1 BILLION I.P.O. IN HONG KONGBy choosing Hong Kong for its initial public offering, the British diamond retailer, which has more than 30 stores around the world, is positioning itself near to its most important future growth market: China....Date: 18 May 2012 09:15:09 ESTDEALBOOK: LIVE BLOG: FACEBOOK'S MARKET DEBUTNo other market debut has matched the frenzy created by Facebook. DealBook’s live blog will be tracking reactions to the company’s I.P.O. throughout the day....Date: 18 May 2012 08:24:04 ESTAT FACEBOOK, PEER PRESSURE TO SPEND THOSE MILLIONS QUIETLYVeloTech cycles in Palo Alto, Calif., is one of the places where technology millionaires go to buy high-end bicycles. The store is owned by Mark Richard, right....Date: 18 May 2012 08:24:03 ESTBITS BLOG: FACEBOOK VS. THE WIRELESS INDUSTRYFacebook hasn’t yet figured out how to make meaningful revenue from mobile, but it has done plenty to create opportunities and headaches for the wireless carriers....Date: 18 May 2012 08:07:08 ESTECONOMIX BLOG: THE GREAT GATSBY CURVE, FOR THE STATESA back-of-the-envelope attempt to look at the relationship between income inequality and economic mobility in the 50 states....Date: 18 May 2012 08:07:08 ESTYOU’RE THE BOSS BLOG: INTRODUCING DEIRDRE LORD, A NEW BUSINESS GROUP MEMBERDeirdre Lord and a longtime colleague teamed up to start The Megawatt Hour. "Essentially, we're the Turbo Tax for businesses that buy energy in deregulated markets," she said....Date: 18 May 2012 08:07:08 ESTCOMPARING FACEBOOK’S OFFERING...Date: 18 May 2012 08:07:07 ESTEURO WATCH: MARKETS ON EDGE AFTER DOWNGRADES IN EUROPEFresh credit rating downgrades affected Greece and Spain as the Group of Eight leaders gathered....Date: 18 May 2012 08:07:07 ESTDEALBOOK: BRITAIN FACES $3.2 BILLION LOSS FROM NORTHERN ROCK SALEWhile the British government is expected to recoup the £37 billion it injected into Northern Rock, the loss would result from the discounted loans the government handed to the lender, the National Audit Office says....Date: 18 May 2012 08:07:07 ESTDEALBOOK: GRAFF DIAMONDS MOVES CLOSER TO $1 BILLION I.P.O. IN HONG KONGBy choosing Hong Kong for its initial public offering, the British diamond retailer, which has more than 30 stores around the world, is positioning itself near to its most important future growth market: China....Date: 18 May 2012 08:07:07 ESTNEWS ANALYSIS: A GREEK EXIT? EURO ZONE MAY BE READYYears of foot-dragging and brinkmanship have prepared the currency union for life without Greece....Date: 17 May 2012 23:08:05 EST‘PRINCELINGS’ IN CHINA USE FAMILY TIES TO GAIN RICHESThe authorities are eager to paint the fallen official Bo Xilai, whose family has a substantial fortune, as a rogue operator. But other officials’ relatives have also amassed vast wealth....Date: 17 May 2012 22:00:28 ESTA STEM-CELL-BASED DRUG GETS APPROVAL IN CANADAProchymal, developed by Osiris Therapeutics, is a preparation of mesenchymal stem cells, which are obtained from the bone marrow of healthy young adult donors....Date: 17 May 2012 22:00:28 ESTA START-UP IS GOLD FOR FACEBOOK’S NEW MILLIONAIRESAt Facebook, ground zero for the nouveau tech riche in Silicon Valley, peer pressure dictates that consumption be kept on the down low....Date: 17 May 2012 22:00:27 ESTNEWS ANALYSIS: CHANCE OF GREECE EXITING EURO GROWSThe foot-dragging and brinkmanship of the last few years have won the other members of the currency union valuable time to prepare for life without Greece....Date: 17 May 2012 21:09:07 ESTHIGH & LOW FINANCE: WHEN HEDGING GOES AWRY - HIGH & LOW FINANCEA multibillion-dollar trading loss at JPMorgan may remind some of the disaster at the Long Term Capital Management hedge fund in 1998....Date: 17 May 2012 21:09:07 ESTWHITE HOUSE ENLISTS 45 FIRMS TO GIVE $3 BILLION TO GROW FOOD FOR WORLD’S POORAlliance for Food and Nutrition Security seeks provide aid to farmers like these in Ethiopia....Date: 17 May 2012 20:52:07 EST -
FORBES
AMAZON.COM REPORTEDLY PLANNING 10.1-INCH KINDLE FIREWhile the iPad is supposedly getting smaller, the Kindle Fire is apparently getting bigger....Date: 18 May 2012 11:14:34 ESTRANGERS CONTINUE TO STAKE ON BAD ICE AFTER MADISON SQUARE GARDEN'S $1 BILLION UPGRADEFor those who like ice in their scotch while they watch hockey or basketball life has gotten better at MadisonSquare Garden as a result of the arena's nearly completed $980 million, multi-year renovation....Date: 18 May 2012 11:14:33 ESTQUALCOMM VS. INTEL IN MOBILE CHIPS: SOMEBODY'S ABOUT TO GET HURTTrash-talk between Qualcomm (QCOM) and Intel (INTC) investors notched up several decibels in recent days, which probably means there?s reason to worry about both companies. Piper Jaffray mocks Intel?s products. Citigroup disses Qualcomm?s supply chain. Somebody?s about to get hurt....Date: 18 May 2012 10:57:07 ESTGAMESTOP: CARIS CUTS RATINGCaris & Co. analyst Scott Tilghman this morning cut his rating on GameStop to Neutral from Buy following the company Q1 earnings report Thursday. While GameStop's Q1 results were in line with the company's pre-announcement, Q2 guidance missed Street expectations....Date: 18 May 2012 10:57:07 ESTJPMORGAN SUITS ACCUSE DIMON OF FRAUD ??? FOR DOING WHAT, EXACTLY?The first fraud suits accuse JPMorgan Chief Jamie Dimon of engaging in a fraudulent scheme, although it's not clear what his payoff would be....Date: 18 May 2012 10:57:06 ESTTEN THINGS TO DO WHEN YOU LOSE YOUR JOBHow does it feel to be nearly 60 and back in the job market after an unexpected layoff that had nothing to do with your personal performance? You went down with an entire department's implosion. Here are 10 things to do straightway....Date: 18 May 2012 10:57:06 ESTEX-DIV REMINDER FOR ZIONS BANCORPORATIONLooking at the universe of stocks we cover at Dividend Channel, on 5/22/12, Zions Bancorporation (NASD: ZION) will trade ex-dividend, for its quarterly dividend of $0.01, payable on 5/31/12. As a percentage of ZION?s recent stock price of $18.68, this dividend works out to approximately 0.05%. Below...Date: 18 May 2012 10:57:06 ESTBENJAMIN GRAHAM NEVER WOULD HAVE TOUCHED FACEBOOKIf you're interested in acquiring shares of Facebook, treat it as a speculative trade....Date: 18 May 2012 10:57:05 ESTTHIS STOCK HAS A 3.14% YIELD AND SELLS FOR LESS THAN BOOKRepublic Bancorp, Inc. (NASD: RBCAA) has been named as a Top 10 dividend-paying financial stock, according to Dividend Channel, which published its most recent ?DividendRank? report. The report noted that among shares of financial companies, RBCAA displayed both attractive valuation metrics and stro...Date: 18 May 2012 10:57:05 ESTBANKRATE: GOLDMAN CUTS TO NEUTRALGoldman Sachs analyst Heath Terry this morning cut his rating on the banking information site Bankrate to Neutral from Buy. He maintains his $25 target on the stock, which closed Thursday at $19.34....Date: 18 May 2012 10:40:08 ESTJPMORGAN SUITS ACCUSE DIMON OF FRAUD -- FOR DOING WHAT, EXACTLY?Even as I was writing a piece Monday morning about the inevitability of securities-fraud lawsuits over JPMorgan Chase's $3 billion trading mess, lawyers were busily cutting and pasting familiar language to assemble the first of them, which hit the U.S. District Court in New York on Monday....Date: 18 May 2012 10:40:07 ESTFOUR WAYS TO MAKE MEDICINE MORE LIKE FACEBOOKThis morning, as Facebook begins trading, it will have a market capitalization of more than $100 billion, making it more valuable than any company in health care. The stock market values Facebook as being worth nearly as much as Merck (annual sales: $48 billion) more than Sanofi (annual sales:...Date: 18 May 2012 10:40:07 ESTBY THE NUMBERS:FACEBOOK INVESTOR CHECKLISTToday will be a great day for hoodie wearing Facebookers everywhere. Facebook (FB) is going public and expected to price at $38 a share valuing the company over $100 billion. This will place Facebook in the top 40 companies by market cap....Date: 18 May 2012 10:40:07 ESTFORGET THE FACEBOOK GENERATION ??? AND REVISIT THE BOOMERSEntrepreneur Victor Kiam became famous for his advertising slogan, ?I liked the shaver so much, I bought the company.? The company was Remington Products, in which he invested after his wife gave him a present of a Remington shaver. Kiam went on to become the company?s global pitchman, promoting Rem...Date: 18 May 2012 10:40:06 ESTADVOICE: THE RIGHT KIND OF RISK MANAGEMENT?You should not put your own money at risk,? Rep. Barney Frank said to federally-insured banks Wednesday on CBS This Morning. ?We now have a stronger argument for a Volcker Rule that says ?No? to a bank: ?Your main job is lending and managing the money of your clients.??...Date: 18 May 2012 10:23:24 ESTFACEBOOK'S ZUCKERBERG: NEVER MIND THE SHARES, WHAT ABOUT THE OPTIONSThe compensation committee report in Facebook’s proxy statement is pretty standard for an internet IPO. Cash compensation, at the lower quartile of its peer group, total compensation, including equity, at the 99th percentile…....Date: 18 May 2012 10:23:19 ESTWHY FACEBOOK WONAmidst the frenzy over the Facebook's IPO I have seen a few folks question why this didn't all happen first for MySpace. After all, it was there first, people seemed to like it well enough, and it had some features that Facebook still doesn't have. (Example, it was much easier for bands to download...Date: 18 May 2012 10:23:19 ESTAMERICA'S 25 HIGHEST PAID CEOSWhile the stagnant economy continues to hurt those at the bottom of the U.S. workforce, there's plenty of money for the .0001% at the top. Compensation includes salary, bonuses, perks and exercised stock options; current as of Sept. 6, 2011. Sources: Compustat ExecuComp; SEC filings....Date: 18 May 2012 10:23:16 ESTSTAGECOACH: GREEN PEAK OIL STOCK EXPANDING IN NORTH AMERICAWhat's the budget-conscious way to travel in the US?...Date: 18 May 2012 10:23:15 ESTFORGET THE FACEBOOK GENERATION -- AND REVISIT THE BOOMERSEntrepreneur Victor Kiam became famous for his advertising slogan, "I liked the shaver so much, I bought the company." The company was Remington Products, in which he invested after his wife gave him a present of a Remington shaver. Kiam went on to become the company's global pitchman, promoting Rem...Date: 18 May 2012 10:23:15 EST -
MORE GOOD READS
THE BIGGEST FACEBOOK WINNERSFortuneAll Facebook VCs hit a home-run. But who hit grand slams?...Date: 18 May 2012 10:23:28 ESTHP CONSIDERS CUTTING 25,000 JOBS. WHY NOT MORE?FortuneDate: 18 May 2012 09:49:12 ESTFACEBOOK'S PRE-IPO PRICING HISTORYFortuneFacebook is now public. How did the private traders do?...Date: 18 May 2012 09:49:12 ESTWHY YOU PROBABLY CAN'T WIN AN AGE DISCRIMINATION SUITFortuneA recent Supreme Court decision made proving age bias even tougher than it was before....Date: 18 May 2012 09:32:28 ESTKLEINER PERKINS RAISES $525 MILLION FOR NEW FUNDFortuneVenerable venture capital firm raises latest early-stage fund....Date: 18 May 2012 08:41:12 ESTANDY ZAKY: APPLE STOCK IS A 'BUY'FortuneA cult figure among day traders issues a rare "buy" recommendation....Date: 18 May 2012 08:41:12 ESTPRE-MARKETING: HP CUTS DEEPFortuneChainsaw Meg: HP to cut 25,000 jobs. Also: Is Facebook the next Blackstone?...Date: 18 May 2012 08:41:12 ESTMARKETING IN THE MIDDLE KINGDOMFortuneDate: 18 May 2012 07:33:11 ESTROAD WARRIOR: ARNE SORENSONFortuneThe CEO of Marriott finds meaning in the middle seat....Date: 18 May 2012 06:25:12 ESTZUCKERBERG THROUGH THE YEARSFortuneFacebook's founder has become a pop culture staple much faster than almost any of his predecessors. A look at Zuck, over the past nine years, through the public's eyes....Date: 18 May 2012 06:08:13 ESTPUNNY BUSINESS: WHEN WORDS COLLIDEFortuneDate: 18 May 2012 06:08:13 ESTFACEBOOK IPO: WHO GOT RICH(ER)?FortuneCounting down the big winners....Date: 17 May 2012 16:20:33 EST"FAST" EDDIE MAY END UP SAVING SEARSFortuneThe turnaround at one of the nation's largest retailers is good news for Eddie Lampert and hedge funds in general....Date: 17 May 2012 14:55:24 ESTFACEBOOK PRICES AT $38 PER SHAREFortuneDid it just happen?...Date: 17 May 2012 14:21:19 ESTNISSAN WANTS TOYOTA'S CROWNFortuneDate: 17 May 2012 14:21:19 ESTSTOP WORRYING ABOUT FACEBOOK'S INSIDER SALESFortuneThe Facebook "sell-off" is overblown....Date: 17 May 2012 13:30:35 ESTWHAT I SAW IN ZUCKERBERG'S BUNGALOWFortuneDate: 17 May 2012 12:39:12 ESTWHY I'M NOT BUYING FACEBOOKFortunePlenty of smart investors are using Facebook's IPO as a good time to sell, and for good reasons. Facebook shares may pop, but the company will have a hard time sustaining such a lofty valuation....Date: 17 May 2012 11:48:17 ESTSCHUMPETER: GOOD BUSINESS; NICE BEACHESEconomistON JUNE 17th a hubbub of activists will gather in Rio de Janeiro for a conference on “good business for a sustainable future”, sponsored by something called the Ethical Fashion Initiative. They will listen to a farmer talking about the social consequences of cotton and a theologi...Date: 17 May 2012 11:31:12 ESTSELLING CLOTHES ONLINE IN RUSSIA: FABRIC OF SOCIETYEconomistONLINE as well as offline, imitation is the sincerest form of flattery. Vente-Privée, a firm founded on the strange notion that French women might like fashionable clothes at deep discounts, has been paid this compliment more than most. Companies cut from similar cloth have appea...Date: 17 May 2012 11:31:12 EST
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