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  • World stocks erase year's gain; Brent at 2012 low

    NEW YORK (Reuters) - World stocks erased the year's gains on Friday as investors fled risky investments for safe-haven assets on concerns about the euro zone's deepening debt woes, while U.S. stocks lost ground after the debut of Facebook's <FB.O> failed to ignite optimism.

  • Historic Facebook debut falls short of expectations

    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.

  • Spain's Repsol cancels LNG cargoes to Argentina

    BUENOS AIRES (Reuters) - Spain's Repsol has cancelled its contract to supply Argentina with liquefied natural gas (LNG), just weeks after the country seized control of the energy company's majority stake in YPF <YPFD.BA>, a document obtained by Reuters on Friday showed.

  • Historic Facebook IPO marred by trading glitches

    SAN FRANCISCO (Reuters) - For a company that is dramatically upending business strategies and social relationships around the world, Facebook Inc made a surprisingly modest debut on the Nasdaq on Friday as a sky-high valuation and trading glitches capped the stock's rise.

  • World stocks fall into negative territory for year

    NEW YORK (Reuters) - World stocks erased the year's gains on Friday as investors fled risky investments for safe-haven assets on concerns about the euro zone's deepening debt woes, while U.S. stocks lost ground after the market debut of social network Facebook <FB.O> failed to lift optimism.

  • World stocks erase year's gains on Europe

    NEW YORK (Reuters) - World stocks erased the year's gains on Friday as investors fled risky investments for safe-haven assets on concerns about the euro zone's deepening debt woes, while U.S. stocks lost ground after the market debut of social network Facebook <FB.O>.

  • Briton wins EBRD presidency for first time

    LONDON (Reuters) - European Bank for Reconstruction and Development shareholders elected senior civil servant Suma Chakrabarti as the bank's first British president on Friday, in a process lauded for its open selection.

  • Facebook's debut is modest, high volumes cause problems

    SAN FRANCISCO (Reuters) - Facebook Inc shares rose less than expected on their first day of trade on Friday and huge order volume caused technical problems that marred the coming out party of the No. 1 online social network.

  • Refloat of Italy's Concordia wreck to be biggest ever

    ROME (Reuters) - Salvage crews will employ huge cranes and air tanks to refloat the half-submerged Costa Concordia cruise liner in the largest ever operation of its kind, according to a plan unveiled on Friday.

  • Exclusive - Repsol comes up dry in Cuba offshore well

    HAVANA (Reuters) - Spanish oil giant Repsol said Friday that the first of three planned wells in Cuban waters was unsuccessful, a blow to Cuba's hopes for energy independence.

  • Sudan set to devalue pound amid oil crunch

    KHARTOUM (Reuters) - Sudan will allow foreign exchange bureaux and banks to trade dollars at a level close to the black market rate, effectively devaluing the pound, a senior banking official said on Friday.

  • Exclusive - Repsol cancels LNG cargoes to Argentina-document

    BUENOS AIRES (Reuters) - Spain's Repsol has cancelled its contract to supply Argentina with liquefied natural gas (LNG), just weeks after the country seized control of the company's majority stake in YPF, a document obtained by Reuters on Friday showed.

  • Facebook's debut is modest, high volumes cause problems

    SAN FRANCISCO (Reuters) - Facebook Inc shares rose less than expected on their first day of trade on Friday and huge order volume caused technical problems that marred the coming out party of the No. 1 online social network.

  • EBRD appoints UK's Chakrabarti as president

    LONDON (Reuters) - The European Bank for Reconstruction and Development said on Friday it appointed senior UK civil servant Suma Chakrabarti as the bank's first British president for the next four years.

  • Weak CWW results may rally support for Vodafone bid

    LONDON (Reuters) - Cable & Wireless Worldwide could use its expected poor set of results on Monday to justify its support for a takeover by Vodafone, a deal that its largest shareholder has said is too cheap.

  • Exclusive - Repsol cancels LNG cargoes to Argentina - document

    BUENOS AIRES (Reuters) - Spain's Repsol has cancelled its contract to supply Argentina with liquefied natural gas (LNG), saying state energy company Enarsa breached the sales agreement, a document obtained by Reuters on Friday showed.

  • Sudan set to devalue pound amid oil crunch - sources

    KHARTOUM (Reuters) - Sudan, hit by an economic crisis since losing crucial oil revenues, will effectively devalue the pound by allowing foreign exchange bureaux to trade dollars at a level away from the official rate, a banking source and Sudanese media said on Friday.

  • EBRD appoints UK's Chakrabarti as president - EBRD spokesman

    LONDON (Reuters) - The European Bank for Reconstruction and Development appointed British government candidate Suma Chakrabarti as its new president for the next four years, the regional development bank said on Friday.

  • ICAP eyes futures with PLUS exchange

    LONDON (Reuters) - ICAP <IAP.L> plans to start trading European futures and options on the PLUS stock exchange, in a move to tackle the dominance of exchanges NYSE Euronext <NYX.N> and Deutsche Boerse <DB1Gn.DE>.

  • FTSE dives again on Europe fears

    LONDON (Reuters) - The benchmark share index fell to its lowest closing level in nearly six months on Friday, as persistent fears over a Greek euro exit and debt-laden Spanish banks knocked back heavyweight financial stocks.

  • Facebook fizzles in debut, shares skirt IPO price

    SAN FRANCISCO (Reuters) - Facebook Inc shares fizzled on their first day of trade on the Nasdaq, erasing early gains of as much as 18 percent to trade close to their initial public offering price.

  • G4S names John Connolly as chairman

    LONDON (Reuters) - G4S <GFS.L>, the world's biggest security group, said John Connolly, chairman of British group AMEC <AMEC.L>, will succeed Alf Duch-Pedersen as chairman at the group's annual meeting on June 7.

  • ICAP buys PLUS stock market for 1 pound

    LONDON (Reuters) - ICAP <IAP.L> has paid a nominal 1 pound for the stock exchange unit of struggling PLUS Markets Group <PMK.L>, a move to reposition itself ahead of rules that will push more of its business onto exchanges.

  • Nick Reid steps back from UBS investment banking role

    LONDON (Reuters) - Nick Reid is stepping down as co-head of European, Middle Eastern and African investment banking at UBS <UBSN.VX>, according to a memo seen by Reuters, to spend more time with clients as the firm seeks to rebuild its market share.

  • Facebook shares rise 11 percent in frenzied trade

    NEW YORK/SAN FRANCISCO (Reuters) - Facebook Inc shares opened 11 percent higher on Friday, after the pioneering online social network raised as much as $18.4 billion (11.6 billion pounds) in one of the biggest initial public offerings in U.S. history.

  • Facebook shares rise 13 percent in frenzied trade

    NEW YORK/SAN FRANCISCO (Reuters) - Facebook Inc shares opened 13 percent higher on Friday, after the pioneering online social network raised as much as $18.4 billion (11.6 billion pounds) in one of the biggest initial public offerings in U.S. history.

  • Weak CWW results may rally support for Vodafone bid

    LONDON (Reuters) - Cable & Wireless Worldwide <CWP.L> could use its expected poor set of results on Monday to justify its support for a takeover by Vodafone <VOD.L>, a deal that its largest shareholder has said is too cheap.

  • BoE's Posen to quit to head U.S. think tank

    LONDON/WASHINGTON (Reuters) - Bank of England policymaker Adam Posen will not seek a second term at the central bank and instead plans to step down in August to head a leading U.S. economic think tank, the Bank said on Friday.

  • Ex-miner Abbott may collect millions from LME sale

    LONDON (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.

  • East Europe wary of fresh euro bank crunch

    LONDON (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.