NEW YORK (Reuters) – U.S. stocks were little changed on Friday, with equities unchanged by the delayed market debut of Facebook . Facebook rose 11 percent to $42 in early trading. The Dow Jones industrial average was down 7.34 points, or 0.06 percent, at 12,435.15. The Standard & Poor’s 500 Index was up 0.64 points, [...]

(Reuters) – Wall Street banks will report sharp declines in trading and investment banking revenues in the second quarter because of weaker client activity, JPMorgan analyst Kian Abouhossein said in a report on Friday. Fixed income, currency and commodities trading revenue is likely to be particularly challenged for a group of banks including Goldman Sachs [...]

MADRID (Reuters) – Spain’s borrowing costs shot up at a bond auction on Thursday and its troubled banks suffered a double blow, with shares in part-nationalized Bankia diving and 16 lenders – including the euro zone’s biggest – having their credit ratings cut. Official data confirmed Spain was back in recession and a newspaper reported [...]

(Reuters) – Investors are bracing for Facebook’s Wall Street debut on Friday 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. Valued at $104 billion, Facebook is larger than Starbucks Corp and Hewlett-Packard combined, sparking intense speculation on how much higher its [...]

LONDON (Reuters) – The U.S. dollar climbed, world shares fell and German borrowing costs hit record lows on Friday as a deepening Spanish banking crisis, uncertainty about Greece’s future in the euro zone and lackluster U.S. data provoked a rush for safe-haven assets. World stocks, as measured by the MSCI index, dropped 0.85 percent and [...]

U.S. stock index futures pointed to a slightly higher open on Wall Street on Friday, with futures for the S&P 500 and the Dow Jones up 0.2 percent and Nasdaq futures up 0.3 percent at 4:41 a.m. EDT. Japan’s Nikkei average dived 3 percent on Friday to log a seventh straight week of losses, its [...]

(Reuters) – The United States imposed punitive tariffs on solar panel imports from China, the latest in a series of trade disputes between the world’s two biggest economies and sparking accusations by Beijing of protectionism. The new tariffs of 30 percent, much bigger than had been expected, were set on Thursday by the U.S. Commerce [...]

WASHINGTON (Reuters) – JPMorgan Chase & Co Chief Executive Jamie Dimon has agreed to testify before Congress over the bank’s recent trading losses, which have ignited a political debate over whether large U.S. banks need to be reined in by regulators or new laws. U.S. Senate Banking Committee Chairman Tim Johnson said in a statement [...]

NEW YORK/SAN FRANCISCO (Reuters) – Facebook Inc priced its initial public offering at $38 a share, giving the world’s No. 1 online social network a $104 billion valuation in the third largest offering in U.S. history. The offering puts the eight-year-old company, founded in a Harvard dorm room, a valuation akin to that of Amazon.com [...]

NEW YORK (Reuters) – Stocks hit a four-month low on Thursday as rising Spanish bond yields increased investor anxiety over that country’s banks and another round of weak data undermined hopes for U.S. economic recovery. Growing worries over developments in the euro zone and lackluster economic data pushed the S&P’s losing streak to five consecutive [...]