Wall St Week Ahead: The market is oversold, but major signs say "sell" NEW YORK (Reuters) - Normally a big decline would set up Wall Street for a technical rebound. But that may not be the case next week, even after the market posted its worst weekly loss for the year and the S&P fell for six straight sessions.
Historic Facebook debut falls flat SAN FRANCISCO (Reuters) - The historic initial public offering of Facebook Inc did not go as planned on Friday, as the social networking company's sky-high valuation combined with trading glitches left the stock languishing near its offering price at the market close.
Google says it won China's approval for Motorola deal (Reuters) - Google said on Saturday that Chinese authorities have approved its $12.5 billion purchase of Motorola Mobility Holdings, the last regulatory hurdle to a deal that would allow the world's No. 1 Internet search engine to develop its own line of smart phones.
Dewey to consider bankruptcy filing: source NEW YORK (Reuters) - Ailing law firm Dewey & LeBoeuf is considering a bankruptcy filing as new debtholders take a more aggressive track, shifting away from earlier attempts at an out-of-court liquidation, a person familiar with the matter said on Friday.
Russia Sberbank sees sale certainty after government formed WASHINGTON (Reuters) - Europe's second largest lender Russia's Sberbank will see some certainty over the planned privatization sale after the new Russian government's lineup is announced on May 21, CEO German Gref said on Saturday.
Obama pledges tough enforcement of Wall Street reforms WASHINGTON (Reuters) - President Barack Obama on Saturday called on the U.S. Congress to back his efforts for tough new financial industry oversight, saying a $2 billion trading loss at JPMorgan underscored the need for such regulation.
Seaway pipeline sends oil to Texas in historic reversal HOUSTON (Reuters) - The Seaway pipeline began pumping crude from Cushing, Oklahoma, oil tanks to the heart of the U.S. refining industry in Houston on Saturday, marking a historic shift in the way oil flows across the United States.
Manulife, Metlife submit bids for ING Asia sale: sources HONG KONG (Reuters) - Manulife Financial Corp and Metlife are among the companies that have submitted first round bids for ING's entire Asia life insurance business, sources said on Saturday, in what could be the largest Asia M&A insurance deal ever.
Audi eyes management reshuffle: CEO in magazine FRANKFURT (Reuters) - Volkswagen's Audi division is looking into a management reshuffle as it eyes an expansion in China, Latin America and the United States, the unit's head told a German magazine.
Under pressure, Chesapeake cuts director pay (Reuters) - Chesapeake Energy Corp , under growing pressure from shareholders to improve corporate governance, reduced the compensation for its outside directors by 20 percent and eliminated their use of its aircraft for personal travel, the company said on Friday.
World leaders back Greece, vow to combat financial turmoil CAMP DAVID, Maryland (Reuters) - World leaders backed keeping Greece in the euro zone on Saturday and vowed to take all steps necessary to combat financial turmoil while revitalizing a global economy increasingly threatened by Europe's debt crisis.
G8, raising pressure on Iran, puts oil stocks on standby CAMP DAVID, Maryland (Reuters) - Leaders of the Group of Eight major economies raised the pressure on Iran on Saturday, signaling their readiness to tap into emergency oil stockpiles quickly this summer if tougher new sanctions on Tehran threaten to strain supplies.
Blind Chinese activist arrives in United States NEW YORK (Reuters) - Blind Chinese dissident Chen Guangcheng arrived in the United States on Saturday after China allowed him to leave a hospital in Beijing in a move that could signal the end of a diplomatic rift between the two countries.
Syria bomb kills 9, Damascus blames foreign plot BEIRUT (Reuters) - A car bomb killed nine people at a Syrian military post in the eastern city of Deir al-Zor on Saturday, an attack the government said was the latest proof that an uprising against President Bashar al-Assad was a foreign plot.
Yemen clashes kill 34 militants, soldiers: officials ADEN, Yemen (Reuters) - At least 22 al Qaeda-linked militants and 12 Yemeni soldiers were killed in clashes and air strikes overnight during a U.S.-backed offensive against insurgents in the south of the country, officials said on Saturday.
Anti-NATO activists weighed Obama HQ attack: prosecutors CHICAGO (Reuters) - Three protesters arrested on terrorism-related charges ahead of the NATO-summit considered targeting U.S. President Barack Obama's re-election campaign headquarters and the home of Chicago Mayor Rahm Emanuel, according to court documents released on Saturday.
Google says it won China's approval for Motorola deal (Reuters) - Google said on Saturday that Chinese authorities have approved its $12.5 billion purchase of Motorola Mobility Holdings, the last regulatory hurdle to a deal that would allow the world's No. 1 Internet search engine to develop its own line of smart phones.
Motorcycle bomber kills 10 in eastern Afghanistan KABUL (Reuters) - A suicide bomber on a motorcycle detonated explosives in an Afghan district close to the border with Pakistan, killing at least 10 people including children, officials said on Saturday.
Thousands march in Frankfurt against austerity measures FRANKFURT (Reuters) - At least 20,000 demonstrators marched through Frankfurt on Saturday in a peaceful protest against austerity measures implemented to tackle the intensifying euro zone debt crisis.
Obama pledges tough enforcement of Wall Street reforms WASHINGTON (Reuters) - President Barack Obama on Saturday called on the U.S. Congress to back his efforts for tough new financial industry oversight, saying a $2 billion trading loss at JPMorgan underscored the need for such regulation.
Blind Chinese activist arrives in United States NEW YORK (Reuters) - Blind Chinese dissident Chen Guangcheng arrived in the United States on Saturday after China allowed him to leave a hospital in Beijing in a move that could signal the end of a diplomatic rift between the two countries.
World leaders back Greece, vow to combat financial turmoil CAMP DAVID, Maryland (Reuters) - World leaders backed keeping Greece in the euro zone on Saturday and vowed to take all steps necessary to combat financial turmoil while revitalizing a global economy increasingly threatened by Europe's debt crisis.
Syria bomb kills 9, Damascus blames foreign plot BEIRUT (Reuters) - A car bomb killed nine people at a Syrian military post in the eastern city of Deir al-Zor on Saturday, an attack the government said was the latest proof that an uprising against President Bashar al-Assad was a foreign plot.
G8, raising pressure on Iran, puts oil stocks on standby CAMP DAVID, Maryland (Reuters) - Leaders of the Group of Eight major economies raised the pressure on Iran on Saturday, signaling their readiness to tap into emergency oil stockpiles quickly this summer if tougher new sanctions on Tehran threaten to strain supplies.
Yemen clashes kill 34 militants, soldiers: officials ADEN, Yemen (Reuters) - At least 22 al Qaeda-linked militants and 12 Yemeni soldiers were killed in clashes and air strikes overnight during a U.S.-backed offensive against insurgents in the south of the country, officials said on Saturday.
Youth protest former Mexican ruling party's rise MEXICO CITY (Reuters) - Thousands of demonstrators protested in Mexico City on Saturday against opposition presidential candidate Enrique Pena Nieto, who is far ahead in polls and poised to lead the party that ruled Mexico for much of the 20th century back to power.
Bomb at Italian school kills teenage girl, wounds 10 BRINDISI, Italy (Reuters) - A 16-year-old girl was killed in southern Italy by a bomb that exploded in front of her school before classes on Saturday in an unprecedented attack that wounded 10 others, one seriously.
Bashir says wants peace with S.Sudan but security comes first KHARTOUM (Reuters) - Sudan's President Omar Hassan al-Bashir said Sudan wants a lasting peace with South Sudan but Juba needs to end support for rebels in Sudan's border land, state news agency SUNA said on Saturday.
Serbia picks president under threat of protest BELGRADE (Reuters) - Pro-Western Boris Tadic will bid on Sunday for another five years as Serbia's president and the right to lead the nation into EU membership talks, challenged by rightist Tomislav Nikolic who has threatened to contest the result in the streets.
Greek election race tightens into dead heat ATHENS (Reuters) - A flurry of polls on Saturday showed the race to lead Greece has tightened into a dead heat ahead of an election next month that could determine whether it remains in the euro.
After Buildup, a Modest Start for Facebook While disappointing new investors who were betting on fast gains, Facebook had a wide winner's circle, creating huge paper gains for scores of early insiders, hundreds of employees and some stragglers who bought stakes recently.
Facebook's Debut Marred by Trading Flaws The Facebook $16 billion offering was the biggest I.P.O. that Nasdaq had ever listed. Now there are growing questions over how its market debut was handled.
DealBook's Week in Review: Stay or Go? Facebook ended its first day of trading on Nasdaq with a value of $105 billion while JPMorgan Chase's trading loss surged to at least $3 billion. A look back on our reporting of the past week's highs and lows in finance.
MF Global Trustee Gets $168 Million From JPMorgan The money is not technically part of the $1.6 billion in customer cash that vanished from the firm in its final days, but the trustee, James W. Giddens, plans to use it to repay the farmers, traders and hedge funds who have waited more than six months to get all of their money back.
Facebook Closes at $38.23, Nearly Flat on Day Investors may have really wanted to like Facebook, but many appeared to have changed their minds, as its stock price ends the day nearly flat Trading volume was extremely heavy, even as it was marred by technical glitches.
Stream of Thoughts Facebook is getting the headlines, but don't forget about that other wildly popular social network, Twitter. Follow what Twitter users are saying about Facebook's initial public offering.
Business Day Live: The Facebook Hype An interview with David Kirkpatrick, author of "The Facebook Effect." | Why initial public offerings catch the public imagination. | James B. Stewart takes a critical eye to the hype.
Before Lender's Bankruptcy, Buffett Made a Bid Warren E. Buffett made an unsuccessful play for Residential Capital before the mortgage lender filed for bankruptcy this week, according to Bloomberg.
Live Blog: Facebook's Market Debut Shares of Facebook are now trading on the Nasdaq market, the third largest initial public offering in United States history. DealBook's live blog tracked all of the reactions to the I.P.O. throughout the day.
Graff Diamonds Said to Move Closer to $1 Billion I.P.O. in Hong Kong By 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.
Britain Faces $3.2 Billion Loss from Northern Rock Sale While 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.
In Facebook Stock Rush, Fanfare vs. Realities The small gain for Facebook?s stock on its first day of trading suggests that many professional money managers viewed all the hype as just that.
Google Gets Approval From China for Motorola Deal Authorities in China have approved Google Inc.'s bid to buy phone maker Motorola Mobility, clearing the way for the $12.5 billion deal to close early next week.
Greece and Germany in War of Words Over Euro Crisis A telephone conversation on Friday between Germany?s chancellor and Greece?s president became the latest flashpoint in the unfolding crisis over Greece?s membership in the euro.
Spain Tries to Calm Fears About Ailing Lender A week after Spain seized control of Bankia, the government was forced to deny that clients were scrambling to withdraw funds from the lender.
?Princelings? in China Use Family Ties to Gain Riches The 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.
Wal-Mart Concedes Bribery Case May Widen The scope of an investigation into foreign bribery issues seemed to have widened at the retailer, which reported higher-than-expected first-quarter earnings.
Iran Oil Production Drop Seen A 12 percent decline in the first three months of the year is at odds with Iran?s assessment that there has been no significant change in output over the past year.
In Facebook Stock Rush, Fanfare vs. Realities The small gain for Facebook?s stock on its first day of trading suggests that many professional money managers viewed all the hype as just that.
DealBook: After Buildup, a Modest Start for Facebook While disappointing new investors who were betting on fast gains, Facebook had a wide winner's circle, creating huge paper gains for scores of early insiders, hundreds of employees and some stragglers who bought stakes recently.
Building the Next Facebook a Tough Task in Europe Unlike in the United States, where promising Internet startups can expect venture capitalists to come calling early, entrepreneurs in Europe face a shortage of financing.
Hewlett-Packard to Cut About 30,000 Jobs The tech giant will refocus on product development and sales, executives say, and operations in China will most likely be spared.
DealBook: Pinterest Raises $100 Million Pinterest, which allows users to share photographs, recipes and other media on custom "pinboards," raised $100 million in a funding round led by the Japanese e-commerce company Rakuten.
Paralyzed, Moving a Robot With Their Minds Scientists said a tiny brain implant allowed two people who are virtually paralyzed below the neck to manipulate a robotic arm.
Bits Blog: In TV Race, Microsoft Has Lead, Forrester Says When it comes to the underlying technology providers that matter for mobile app developers, there's Google and Apple, with Microsoft as an also-ran. But as television begins to resemble the mobile business, Microsoft is in the lead with the Xbox, according to a new report out Wednesday from Forrester Research.
A Russian Facebook Bet Pays Off Big Alisher B. Usmanov?s investments in the social media giant could be worth at least $6 billion when the company goes public.
Chairman of Best Buy, Richard Schulze, to Step Down The company?s audit committee said Richard Schulze, also the chain?s founder, failed to report an inappropriate relationship between the former chief executive and an employee.
Video Game Review: Max Payne 3 From Rockstar Games The newest version of this video game, by Rockstar, is set in Brazil, with the title character working as a bodyguard.The video game Max Payne 3 follows the former cop in his job as a bodyguard in Brazil.
A Computer User?s Guide to Cloud Storage Cloud storage, now offered by a number of companies in different price ranges, offers a substitute for physical storage, with the additional ability to synchronize across multiple devices.
G8 backs Greek euro membership The leaders of the G8 group of major economies say they want Greece to remain in the eurozone, and commit to promoting growth.
Facebook shares see modest debut Facebook shares end a volatile first day of trading at $38.23, barely above the company's initial pricing, having initially jumped more than 10%.
Market jitters over eurozone woes European markets suffer a nervous session with investors unsettled by a downgrade for Spanish banks and the political crisis in Greece.
Yahoo jumps on Alibaba deal talk Shares in internet giant Yahoo rise 5% on reports that it is close to selling its valuable stake in Alibaba Group, the Chinese e-commerce company.
JP Morgan boss to testify in US JP Morgan chief executive Jamie Dimon will appear before a Senate committee to explain the bank's $2bn trading loss on a failed hedging strategy.
Argentine gas exports cancelled Spanish energy giant Repsol cancels a contract to provide gas to Argentina, in a continuing row after Buenos Aries nationalised one of its subsidiaries.
China property prices fall again Chinese property prices continued to fall during April after the government kept policies in place to curb speculation.
Cuban offshore oil attempt fails Spain's Repsol oil company says a first attempt to find oil off Cuba's northern coast has been unsuccessful.
EU 'plans for Greek exit option' The EU Commission and European Central Bank are making contingency plans for a possible Greek exit from the euro, an EU commissioner says.
US puts tariffs on Chinese panels The US says it will impose import tariffs of about 30% on Chinese solar companies, saying China is flooding it with subsidised products.
LSE reveals strong profits rise The London Stock Exchange bucks the economic turmoil to deliver a better-than-expected rise in annual profit.
China raises rare earth exports China, the world's biggest producer of rare earths, will allow more companies to export it, after they met environment standards.
Pinterest to get $100m investment Social networking service Pinterest is to receive $100m in funding, prompting analysts to value the two-year-old firm at up to $1.5bn.
Jobs boost as UK gets Astra deal Vauxhall's Ellesmere Port car plant will build a new Astra car in a deal that means huge investment and the creation and support of thousands of jobs.
Buffett in newspaper investment Berkshire Hathaway, the holding company of legendary investor Warren Buffett, invests in 63 local newspapers in the south-eastern US.
France questions EU fiscal pact France's new finance minister reiterates that the country's new socialist government will not ratify the European Union's fiscal pact.
US April retail sales in slowdown US retail sales barely grew in April, rising 0.1% compared with a gain of 0.7% the month before, while consumer prices stayed unchanged.
Colombia-US trade pact in force A free trade agreement between the US and Colombia takes effect five years after being signed, with Colombian flowers the first goods to be sent.
Best Buy loses second top boss The founder of US electronics retailer Best Buy is leaving after it was found he knew the chief executive was having an affair but did not disclose it.
Moody's downgrades Spanish banks Ratings agency Moody's cuts the credit ratings of 16 Spanish banks, as shares in struggling lender Bankia fell another 14%.
Obama: EU 'must focus on growth' Speaking after the G8 summit, US President Obama says leaders agree that economies must focus on jobs and growth to boost recovery.
China activist Chen lands in US Chinese activist Chen Guangcheng lands at Newark airport near New York, after his escape to the US embassy in Beijing sparked a diplomatic crisis.
Chelsea 1-1 Bayern Munich (aet, 4-3 pens) Chelsea achieve a dramatic Champions League final victory over Bayern Munich following a penalty shoot-out at the home of the German side.
Benghazi votes in local elections Residents in the Libyan city of Benghazi vote in local council elections, the first polls held in the city since the 1960s.
French rally car crash kills two A rally car ploughs into spectators in the Var region of southern France, killing a marshal and one other person, and injuring 17.
School bomb kills girl in Italy A bomb outside a school in the southern Italian city of Brindisi kills a teenage girl and injures five other people as children gather for classes.
Aborted lift-off for spaceship The US firm SpaceX aborts the lift-off of its Falcon rocket and Dragon ship to the International Space Station.
Powerful car bomb hits Syria city At least nine people are killed and dozens injured after a powerful car bomb explodes in eastern Syria, officials say.
China tunnel explosion 'kills 20' An explosion in a road tunnel being constructed in central China's Hunan province kills at least 20 people, state media say.
Sri Lanka marks war anniversary Sri Lanka marks three years since the end of its civil war with a military parade, as the government is reportedly set to free Sarath Fonseka from prison - the man who led the army during the war
Deadly blast at Afghan checkpoint A suicide bomber kills at least 10 people, a number of them children, at a checkpoint in the eastern Afghan province of Khost, officials say.
Thousands greet Olympic torch The Olympic flame sets off on its 70-day tour of the UK in the build-up to the London 2012 games.
VIDEO: Deadly bomb blast at Italy school A bomb has exploded in front of a school in the southern Italian city of Brindisi killing at least one girl and injuring six others.
VIDEO: Flypast for Diamond Jubilee Thousands of members of the Royal Navy, Army and Royal Air Force take part in an event to mark the Queen's Diamond Jubilee, including a flypast of 78 current and historic aircraft.
VIDEO: One-minute World News Watch the latest news summary from BBC World News. International news updated 24 hours a day.
VIDEO: Deadly car bomb blast in Syria At least nine people have been killed and dozens injured after a car bomb exploded in eastern Syria, according to reports.
VIDEO: Sri Lanka parade marks anniversary Sri Lanka marks the three-year anniversary of the end of its 26-year civil war with a large military parade in the capital, Colombo.
VIDEO: Floating island of waste in Maldives Although the Maldives are known as an unspoilt tourist paradise, the islands struggle with managing their waste, as the BBC discovered on a visit to an 'apocalyptic' floating island waste dump.
G8 backs Greek euro membership The leaders of the G8 group of major economies say they want Greece to remain in the eurozone, and commit to promoting growth.
Facebook shares see modest debut Facebook shares end a volatile first day of trading at $38.23, barely above the company's initial pricing, having initially jumped more than 10%.
Met Police to extract phone data Mobile phone data of suspects in police custody is to be extracted and retained, regardless of whether charges are brought, the BBC has learned.
Silicon trick for next-gen memory Researchers reveal details of a promising way to make a fundamentally different kind of computer memory chip.
Twitter backs web privacy effort Micro-blogging service Twitter will support an initiative that lets people browse the web without being monitored.
Anonymous attacks Indian websites Hacker group Anonymous has carried out a series of attacks against government and political websites in India.
Government to miss cookie cut-off Most government websites will miss the UK's deadline for complying with EU regulations over cookies, the Cabinet Office tells the BBC.
China Mobile in talks with Apple China Mobile, the main mobile service provider in China and the largest in the world by users, could soon offer its customers Apple's iPhone.
Government may miss cloud targets The Government may miss its cloud computing targets because of a lack of enthusiasm from public sector IT staff, a report suggests.
Japan launches S Korea satellite Japan completes its first successful commercial launch of a foreign-made satellite early on Friday, marking its entry into the launch business.
Privacy watchdog to meet Google The French privacy watchdog, acting on behalf of the EU, is to meet Google to scrutinise its controversial privacy policy changes.
Google makes search 'more human' Google revamps its search engine in an attempt to offer instant answers to search questions with a new function, the Knowledge Graph.
Virgin Atlantic allows air calls Passengers flying Virgin Atlantic from London to New York will soon be able to make in-flight phone calls using personal devices.
Jury out in Google Oracle dispute A jury has retired to consider claims that Google wilfully infringed patents belonging to Java developer Oracle.
Prosthetic retina in development Scottish scientists are working on a device to restore sight in people with a form of age related blindness.
Iran 'to sue Google' over Gulf Google is facing legal action for not labelling the body of water separating Iran and neighbouring Arab Gulf states on its map service.
Postal Service's next deadline: Aug. 1 The next deadline facing Congress to save the U.S. Postal Service is Aug. 1. That's when the agency won't have enough money to make a $5.5 billion payment to a retirement fund mandated by law.
New York penthouse sells for a record $90 million An unnamed buyer paid more than $90 million for a Midtown Manhattan penthouse, the highest price ever paid for a New York apartment, according to the building's developer.
Enough on Facebook! Buy Google or Apple Facebook is finally trading. And even though the stock didn't explode out of the gate, the company is still worth more than $100 billion. It shouldn't be.
Facebook: Many mutual funds already have a stake Whether you do or don't like Facebook, you may already own a piece of the social media site: over the past year, nearly 70 mutual funds have snapped up pre-IPO shares on private markets.
Facebook trading sets record IPO volume Facebook's stock market debut finally came and went -- but for all the breathless hype, shares ended right near their offering price.
Stocks: Worst week of the year Stocks closed out an ugly week. Despite initial euphoria surrounding Facebook's public debut, the social network's shares barely popped above its offering price and failed to inspire investors to buy into the broader market.
Europe fears pressure world markets European and Asian markets closed lower on Friday amid anxiety about Spanish and Greek banks and worries of a further slowdown in China.
'I have an airplane hangar in my front yard' Like so many Americans across the nation, Julie Clark commutes to work. But she doesn't drive, walk or even take a bus or train. Instead, she flies a plane.
Stocks: Facebook IPO vs. Europe worries U.S. stocks were poised for a higher open Friday as investor excitement over the Facebook initial public offering countered continued worries about the European sovereign debt crisis.
Save on health care, even as your body falls apart You managed to glide through your twenties and thirties without any major health issues. Yet, as the calendar pages turn, you're finding that a host of minor -- and perhaps a few major -- medical problems keep cropping up. The doctor shakes her head when she sees your blood pressure and cholesterol numbers.
Vacation? No thanks, boss Dubbed the "no vacation nation," the United States lags behind most other developed countries when it comes to vacation days. But Americans don't seem to mind.
Hugo Chávez's Enemy No. 1 For the first time, Venezuela's president has a real rival. And as Henrique Capriles grows more popular, the tension—and danger—mount
The Hubris of Jamie Dimon The JPMorgan chief who thought he had everything under control just lost $2 billion—and it could happen again
Unlocking the Crude Oil Bottleneck at Cushing This week the Seaway pipeline will start sending oil from Cushing, Okla., to the Texas Gulf Coast. How will that impact the price of oil?
Walking Shoes That Spy on Grandma Two small U.S. companies recently launched a line of footwear that uses a GPS device embedded in the heel to track seniors
Are 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
World Leaders at U.S. Meeting Urge Growth, Not Austerity Leaders of the Group of 8 nations, convened at Camp David, banded together on Saturday to press Germany to back more pro-growth policies to halt Europe?s deepening debt crisis.
Chen Guangcheng, Chinese Dissident, Arrives in U.S. Chen Guangcheng, the blind legal advocate whose escape from house arrest jolted relations between the United States and China, landed in Newark on Saturday.
The Pest Parade, and How to Stop It In-house pests are a fact of life in the city. Here?s a primer to getting rid of everything from cockroaches to mice.
3 in Chicago Face Terrorism Charges Tied to NATO Protests Three men were planning to attack the campaign headquarters of President Obama and the house of Mayor Rahm Emanuel, among other targets in Chicago, prosecutors said Saturday.
The Kabul Hospital That Treats All Sides There is one hospital in Kabul that treats anyone, from any side, no questions asked. The horrors of the war blow through its doors every day.
