Current News Today
Market edges up, Wall Street awaits Facebook debut
NEW 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. The S&P has fallen 6.7 percent so far in May, and while volatility is expected to continue, some analysts were forecasting a near-term rebound as valuations become more attractive. Investors are awaiting Facebook's debut after the world's No. 1 online social network raised about $16 billion in one of the biggest initial public offerings in U.S. history. ...
2012-05-18T14:06:06Z
| Investors 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. To rapturous applause from employees, Facebook Chief Executive Mark Zuckerberg rang the bell to kick off trading on the Nasdaq market at the company's Silicon Valley headquarters at 6:30 a.m. Pacific time. Zuckerberg rang the bell, with Chief Operating Officer Sheryl Sandberg and Nasdaq Chief Executive Robert Greifeld on either side. ...
2012-05-18T13:59:37Z
| Banks' rising bad loans add to Spanish troubles
MADRID (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. The Bank of Spain said bad loans rose to 8.37 percent of the banks' outstanding loans, the highest since August 1994 and up from 8.3 percent in February, which was also revised higher. The data came as Spain was set to name independent auditors to assess how much cash its banks are likely to need to rebuild their balance sheets. ...
2012-05-18T11:36:44Z
| Europe thinks the unthinkable on Greece
BRUSSELS/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. European shares were on course for their steepest weekly decline since November and are now in the red for the year, spooked by the prospect of a Greek euro exit sparking a wave of contagion in the currency bloc which could engulf much larger economies such as Spain's. ...
2012-05-18T13:17:21Z
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Current News Today
Pacers pound Heat 94-75 in Game 3 (Yahoo! Sports)
INDIANAPOLIS (AP) LeBron James grabbed a seat on Miami's bench, lowered his head and stared down at the floor.
Thu, 17 May 2012 21:38:27 PDT
| Saints' Vilma sues Roger Goodell for defamation (Yahoo! Sports)
NEW ORLEANS (AP) Suspended Saints linebacker Jonathan Vilma filed a defamation lawsuit Thursday against NFL Commissioner Roger Goodell, claiming the league's top executive made false statements that tarnished Vilma's reputation and hindered his ability to earn a living playing football.
Thu, 17 May 2012 14:40:39 PDT
| Eagles RB McCoy gets new deal through 2017 (Yahoo! Sports)
PHILADELPHIA (AP) LeSean McCoy ran his way onto the short list of the best running backs in the NFL. He can now stamp his name among the highest paid.
Thu, 17 May 2012 19:54:26 PDT
| LA Kings beat Phoenix, move to brink of Cup final (Yahoo! Sports)
LOS ANGELES (AP) When Daymond Langkow beat Jonathan Quick on a breakaway and celebrated Phoenix's first lead in the Western Conference finals, captain Dustin Brown was almost curious how his Los Angeles Kings would respond to the first serious adversity they've faced in weeks.
Thu, 17 May 2012 22:02:36 PDT
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Current News Today
G8 leaders look to head off euro zone crisis
WASHINGTON (Reuters) - Leaders of major industrial economies meet this weekend to try to tackle a full-blown crisis in Europe where fears are growing that Greece could leave the euro zone bloc, threatening the future of the common currency. President Barack Obama, the G8 host, has urged European leaders repeatedly to do more to stimulate growth, fearing contagion from the euro crisis that could hurt the U.S. economy and his chances of re-election in November. ...
2012-05-18T10:06:45Z
| Iran may seek "tactical gain" with U.N. nuclear deal
VIENNA (Reuters) - Iran and the U.N. nuclear watchdog are making headway towards a framework deal on how to tackle concerns about its atomic activity, diplomats say, a potential bargaining chip for Tehran in next week's negotiations with world powers. Iran says such an agreement is needed before it can consider a request by U.N. inspectors to visit the Parchin military site where they believe explosives tests relevant for developing nuclear weapons may have been carried out. ...
2012-05-18T11:47:19Z
| Analysis: In India, muddled leadership leaves economy adrift
NEW DELHI (Reuters) - "Dear God," wrote economist Rajeev Malik as he called on the Almighty to help India's "rudderless" government in a biting critique that underscored a growing frustration at home and abroad with the stewardship of Asia's third-largest economy. Writing in India's Business Standard newspaper, the well-respected Malik echoed the exasperation of Indian and foreign business groups pressing for the government to swiftly implement major economic reforms and formulate a coherent strategy to deal with its mounting problems. ...
2012-05-18T13:35:09Z
| Exclusive: Drugmakers weigh emergency supply plan for Greece
LONDON (Reuters) - International drugmakers are working with European authorities on emergency plans to keep medicines flowing into Greece if the country crashes out of the euro. Discussions have intensified in recent days, according to industry sources, and manufacturers are looking closely at the experience of Argentina's collapse in 2002, when some firms agreed to continue to supply medicines without payment for a period of time. ...
2012-05-18T12:39:46Z
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