- Report: G8 leaders are set to try to tackle the European economic crisis (Reuters)
- Moody’s has downgraded 16 Spanish banks and 4 regions in Spain (CNNMoney)
- Fitch has downgraded Greece’s government debt deeper into junk territory (CNNMoney)
- Poll: Greek voters are returning to the establishment parties that supported the country’s bailout (Reuters)
- German Finance Minister Wolfgang Schaeuble: ‘In 12 to 24 months we’ll see a calming of financial markets’ (Bloomberg)
- Report: Spain is set to name independent auditors for its financial sector (Reuters)
- Facebook is set to begin trading after a record IPO that raised about $16 billion (Bloomberg)
- Reports: Hewlett-Packard is poised to cut up to 30,000 jobs (CBS News)
Latest News
Business
- Analysis: Dimon gets high marks for handling JPMorgan’s crisis over the bank’s trading loss, but his problems may not be over (Reuters)
- Report: Shares in Spain’s Bankia plunged after a newspaper reported that clients had withdrawn massive amounts in the past week (RTE)
- Report: JPMorgan’s trading loss is said to have increased at least 50% (New York Times)
- GM is pulling its ads from Facebook (CNNMoney)
- Coty withdrew its $10.7 billion takeover bid for Avon on Monday (Reuters)
- Report: Three executives are set to leave JPMorgan over the $2 billion trading loss at the firm (Reuters)
- Report: The entire London staff of JPMorgan’s chief investment office may go because of the $2 billion trading loss (Bloomberg)
- The owner of the Fukushima nuclear power plant in Japan has posted an annual net loss of 781.6 billion yen (The Telegraph)
- Report: Spain is forcing its banks to raise an additional €30 billion in capital (The Telegraph)
- JP Morgan’s $2 billion trading loss has hit its market value, credit ratings and image (Reuters)
- Rebekah Brooks, the former chief executive of Rupert Murdoch’s British newspaper subsidiary, recalled chummy ties with British politicians as she appeared before the Leveson inquiry on Friday (New York Times)
- Spain has reportedly effectively taken over Bankia SA, one of the country’s largest banks (Reuters)
- Report: Three Chinese banks are set to expand their presence in the US (CNNMoney)
- Report: China has ordered the world’s top 4 accounting firms to restructure their operations in the country (Reuters)
- Report: Carlos Slim may be seeking to expand his empire into Europe (Reuters)
- Slideshow: The 20 most profitable companies in the US (CNNMoney)
- Report: KFC and other retailers are targeting middle class consumers in Africa (San Francisco Chronicle)
- Aviva’s CEO has resigned following a shareholder revolt on the company’s compensation plans (Bloomberg)
- China has expelled Al Jazeera’s English-language channel (New York Times)
- GM say its auto sales in China hit a record high in April (France 24)
Markets
- Panagiotis Pikrammenos has been sworn in as Greece’s interim PM ahead of a new election set for June 17th (France 24)
- Report: Foreign observers ponder Francois Hollande’s role on the international stage (France 24)
- France says it will not ratify the EU’s fiscal pact unless it is amended to include commitments to promote economic growth (Reuters)
- Report: The ECB plans to temporarily stop lending to some Greek banks (Bloomberg)
- Merkel and Hollande have said that they are willing to consider measures that would help spur economic growth in Greece (Bloomberg)
- IMF chief Christine Lagarde: Greece could exit the eurozone (France 24)
- Report: Greeks, fearful that the country could exit the eurozone, are withdrawing their money from banks (Reuters)
- Report: The global cost of a Greek exit from the eurozone could hit €1 trillion (The Telegraph)
- Italy’s banks are being impacted as the economic slump in the country deepens (The Telegraph)
- The leader of a Greek business association has blasted the country’s politicians for failng to form a coalition government (Time)
- Greece to hold a new election (Reuters)
- Francois Hollande has been officially sworn in as the president of France (France 24)
- European officials have hinted at giving Greece some leeway in meeting the country’s fiscal targets (Bloomberg)
- Report: Germany has helped to save the eurozone from entering a recession (Reuters)
- Report: Greece has hit a political stalemate; fears are growing that the country is firmly on a path to exiting the eurozone (Reuters)
- German finance ministry: Greece must respect the terms and the timetable of the country’s second bailout package (France 24)
- Report: Officials are beginning to weigh Greece’s possible exit from the eurozone (Bloomberg)
- Report: An EU stimulus deal could be in place before Ireland votes on the referendum on the region’s fiscal pact (Irish Times)
- Report: A new Greek election looms as talks between the country’s party leaders appear doomed (Int’l Business Times)
- Greece’s Deputy PM: ‘We have got until June before we run out of money’ (The Telegraph)
Technology
- Report: Rakuten is leading the latest $100 million round of funding in Pinterest (Reuters)
- Social media is changing the way business is done (USA Today)
- China Mobile is in talks with Apple to offer the iPhone to its subscribers (France 24)
- Report: Facebook is planning to increase the size of its IPO by 25%, which could raise as much as $16 billion (Reuters)
- Report: Facebook has increased its IPO price range to between $34 and $38 per share to raise more than $12 billion (Reuters)
- Facebook is reportedly testing a system that would allow users to pay to promote their own posts (The Telegraph)
- Apple is said to be working on an iPad mini that could be released in October (Washington Post)
- Report: Yahoo CEO Scott Thompson has stepped down; Yahoo has appointed Ross Levinsohn as interim CEO effective immediately (Yahoo! News)
- Report: Google is said to be in talks to acquire Meebo (AllThingsD)
- Facebook CEO Mark Zuckerberg says transforming the company’s mobile and advertising experience are top priorities (Reuters)
- Facebook’s co-founder has renounced his US citizenship ahead of the company’s IPO (Bloomberg)
- Report: Facebook’s initial public offering is already oversubscribed (Reuters)
- Microsoft is revamping Bing to better tap into Facebook and other social networks (New York Times)
- Report: Facebook has created its own app store (The Telegraph)
- Report: Sony expects to return to profit this year as it tries to halve the losses from its TV business (Reuters)
- Yahoo is trying to contain the turmoil surrounding its CEO’s embellished academic record (NYT)
- Apple’s TV prototype is said to have been seen firsthand (Washington Post)
- Report: Facebook executives have touted the company’s growth prospects as IPO meetings begin (Bloomberg)
- Report: Google has received the first self-driven car license in the United States from the state of Nevada (Int’l Business Times)
- Third Point has demanded records that relate to Yahoo’s CEO search (New York Times)
Legal
- Report: JPMorgan is facing at least 3 shareholder lawsuits over the $2 billion trading loss at the bank (Int’l Business Times)
- LightSquared has filed for Chapter 11 bankruptcy (Bloomberg)
- Report: The former chief executive of News International, Rebekah Brooks, will be prosecuted in connection with the phone hacking scandal in the UK (New York Times)
- Whistle-blowers at two Swiss banks are said to have given client data to UK tax authorities (Bloomberg)
- Report: The FBI has launched a probe into the trading losses at JPMorgan while shareholders back Dimon (Reuters)
- Report: Deutsche Bank to pay $202 million to settle claims by the US goverment that relate to bad loans (Los Angeles Times)
- Some of the world’s largest wealth-management firms are telling wealthy Americans to go away, as a US tax evasion rule looms (Bloomberg)
- Myspace has agreed to a tentative consent order to settle FTC charges that relate to the company’s alleged sharing of users’ personal information (New York Times)
- A jury has found that Google infringed on some of Oracle’s Java copyrights (Reuters)
- Proview on settlement talks with Apple over the iPad trademark dispute: ‘Right now, there is still a big gap between the two sides on the settlement amount’ (San Francisco Chronicle)
- Proview says Apple’s attitude has changed as the company is now in talks to try to resolve the trademark dispute (Xinhuanet)
- Apple has won a court ruling that bars Samsung from introducing some evidence in a patent-infringement suit (Bloomberg)
- Report: Google may be fined by the FTC over the privacy breach involving Apple’s Safari Internet browsers (Washington Post)
- CalSTRS is suing current and former executives and board members of Walmart over the allegations of bribery in Mexico (Reuters)
- UBS chairman Kaspar Villiger: ‘Switzerland ought not be a financial center for tax evaders’ (The Telegraph)
- Report: EU finance ministers failed to reach an agreement on bank capital rules (Bloomberg)
- European regulators may reopen their inquiries into Google’s Street View project (New York Times)
- US regulators are reportedly making significant progress on a final draft of the Volcker Rule (New York Times)
- US authorities have charged 107 people with Medicare fraud over alleged schemes that involve about $452 million in false billing (Bloomberg)
- Report: A German court has ruled against Microsoft in its patent dispute with Motorola Mobility (Reuters)
Viewpoints
- China’s banks are important to the US as well (CNNMoney)
- Spain may prove to be the real test for the European Union (Bloomberg)
- Facebook has the potential to become an e-commerce powerhouse (Reuters)
- Why did Apple’s CEO Tim Cook recently visit China? (Int’l Business Times)
- Brazil’s business leaders are worried that the country’s domestic industry is losing the battle against cheaper imports (Bloomberg)
- Why Starbucks has done well in China (USA Today)
- Could Apple become the first $1 trillion company? (CNNMoney)
- Why has Apple embraced the textbook industry? (CNNMoney)
Sources
- 24/7 Wall St.
- ABC News
- AllThingsD
- Bloomberg
- BNA
- Business Exchange
- Business News Americas
- Business Review Canada
- BusinessWeek
- Canadian Business
- CBS News
- Chicago Sun-Times
- Chicago Tribune
- China Daily
- Christian Science Monitor
- CNBC
- CNET
- CNN
- CNN Money
- Daily Beast
- Deutschland Magazine
- Earth Times
- Economist
- Emirates 24/7
- Financial Times
- Forbes
- France 24
- Global Times (China)
- Globes
- Guardian (UK)
- Gulf News (UAE)
- Herald Sun (Australia)
- Iafrica
- Int'l Business Times
- Int'l Herald Tribune
- Irish Times
- Los Angeles Daily News
- Los Angeles Times
- McClatchy (DC)
- MSNBC
- New York Times
- News.com.au (Australia)
- Newsweek
- NPR
- Politico
