Morgan Stanley cut Facebook just before IPO
In the run-up to Facebook's $16 billion IPO, Morgan Stanley, the lead underwriter on the deal, unexpectedly reduced revenue forecasts for the company. The sudden caution was a big shock to some, and may have contributed to the weak performance of Facebook shares. Full Article | Full Coverage
France presses for euro area bonds as crisis salve
BRUSSELS - France's Francois Hollande will push a proposal for mutualising European debt at an informal summit of EU leaders in Brussels this week, increasing pressure on German Chancellor Angela Merkel to drop her opposition to the idea.
Afghan exit leaves NATO with identity crisis
CHICAGO - NATO puts on a brave face at its Chicago summit but the reality is that the alliance has been weakened by the euro zone's troubles and faces an identity crisis about what its role will be once it ends its intervention in Afghanistan in 2014. Full Article | Video
Rifts widen in Syrian opposition
AMMAN - A power struggle within Syria's main opposition group is pitting Islamists against secular politicians and exiled leaders against activists at home, further undermining its claim to be an alternative to President Bashar al-Assad. Full Article
Suicide bomber kills 90 in Yemen
SANAA - A suicide bomber in army uniform killed more than 90 soldiers in the heart of the Yemeni capital and an al Qaeda affiliate threatened more attacks if a U.S.-backed campaign against militants in the front-line state did not stop. Full Article
Investors lose faith in stock valuation compass
European shares look cheap according to some traditional measures but investors are finding it hard to judge whether they are a good buy given the potential damage to companies and economies if Greece were to leave the euro zone. Full Article
Global ad group WPP bets on Myanmar
WPP becomes the first foreign advertising group to invest in Myanmar since Western sanctions were lifted, betting on a flood of demand from multinational companies. Full Article
Foreign buyers beware in London property rush
LONDON - When Hong Kong businessman Mr. He paid a 35,000 pound deposit on a four-bedroom apartment in Britain, he believed it was a 40-minute walk from central London, his lawyer says. In fact it was a 40-minute journey by high-speed train. Full Article
Royal image riding high in queen's jubilee year
The death of Princess Diana left the royal family looking shattered and outdated. Now millions are set to flock to London to celebrate Queen Elizabeth's 60 years on the throne, with newspapers running front page photos and barely a whiff of discontent in the air. Full Article
Obama raises concerns about al Qaeda in Yemen
May 21 - U.S. Presidnet Obama says the U.S. is concerned about al Qaeda in Yemen saying the U.S. would focus on counter terrorism in the region. Deborah Lutterbeck reports.
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Clash over Syria in Lebanon
Lebanese soldiers try to keep clashes from escalating between local supporters of Syrian President Assad and Sunni Muslims.
What is the long-term euro vision?
The standard vision of the euro zone’s future is a fully-fledged fiscal, banking and political union. But a headlong dive into a United States of Europe would be bad politics and bad economics, and the European people are not remotely ready for such steps. Commentary
Facebook IPO features best and worst of capitalism
Facebook’s IPO showcases the best and worst sides of capitalism. Execrable puffery accompanies the achievement of transforming a dorm-room project into a company worth over $100 billion. Poor corporate governance, Silicon Valley cronyism, breathless pundits spewing misinformation, bankers in hoodies and manic investors are all on display. Commentary
Eduardo Saverin joins the stateless billionaires
If you wanted to sum up Eduardo Saverin in three words, you could do a lot worse than Very Rich Eurotrash. He didn’t become a Facebook billionaire because of his hacking skills or because Mark Zuckerberg happened to be his roommate in college; he became a Facebook billionaire because he had cash, and Zuckerberg needed cash to get Facebook off the ground. Commentary
Equal rights and the U.S. economy
There is a powerful economic argument for equal rights. If you believe that talent isn’t determined by gender or race but is instead a roll of the genetic dice, then the most productive society will be the fair one. But is it? A draft paper by four economists makes the strong empirical case that it is. Fairness, they contend, has made the economy more productive. Commentary
Ending NATO’s double standard
Outside the U.S. and Europe, there is a growing sense of a two-tiered system of international justice. The West puts others on trial for war crimes, the argument goes, while exempting its own forces from scrutiny. Commentary
The algorithmic arms race
Data is becoming an increasingly strategic weapon for a secretive but influential band of computer-driven hedge funds that bet billions on financial markets using algorithms which consume everything from bond price moves to rainfall statistics. Full Article
Greece party talks framed by unreality, punctuated by insults
Athens - "Gentlemen, we are finished," said the patrician President, calling an abrupt halt to two hours of baiting and cat-calling between furious Greek politicians. "I'm starting to get upset myself now. We are finished." The acrimony and rancour amongst Greece's political parties bodes ill for efforts to pull Greece back from the brink. Full Article
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