Global equities extend losing streak
Growth assets are shunned as investors fret about the future of the eurozone and the global economy, sending yields on German Bunds lower
Faltering start for the new Facebook
Glitches delayed the opening of trading and underwriters had to intervene to prevent the group’s shares falling below the $38 price set on Thursday
Spain’s pain becomes Europe’s big fear
Fears about contagion from Greece and worries about the health of Spanish banks have shifted the focus of the crisis from Athens to Madrid
Haven rush drives bond yields to lows
Possibility of Greek euro exit has rattled markets and caused investors to buy ‘safer’ assets, pushing UK and German borrowing costs to lows
Resource stocks mirror global economy
Decline of groups involved in supplying essential raw materials for business show how investors really feel about the global economy’s direction
We hate the expression ‘repression’
It is an ugly phrase, but ‘financial repression’ is the reason that many investors are buying government bonds for a return-free risk
Facebook fails to meet high expectations
S&P 500 financials index loses over 6% to make it the worst performing sector on the week, led by JPMorgan as its deals with fallout from $2bn loss
Russian crop damage worries lift wheat
Concerns over the past few weeks about limited rainfall in southern Russia push US benchmark prices for the grain to an eight-month high
Euro remains close to annual lows
Single currency ceases sell-off but remains below $1.27, while Aussie and New Zealand dollar fall to fresh lows on global economic concerns
ITV weakens as FTSE 100 drops
Banks and mining stocks lead the wider market to its sharpest weekly fall since September, with the benchmark index down 5.5% for the week
Global Economic News from the Financial Times
Spain hit by rise in bad bank loans
Value of bad loans held by banking sector increased a third during the past year to €148bn and accounted for 8.4% of their entire loan portfolios
Global equities extend losing streak
Growth assets are shunned as investors fret about the future of the eurozone and the global economy, sending yields on German Bunds lower
Brazil stimulus fails to raise growth
Contraction makes Brazil’s growth second slowest in Latin America and comes as Asia’s major emerging markets, China and India, are also decelerating
G8 leaders urged to focus talks on growth
Barack Obama says the summit of the world’s leading economies will focus on ways to promote growth in Europe and backed fiscal consolidation efforts
China linked to ‘economic espionage’
The Pentagon report says the country will continue to be an ‘aggressive and capable’ collector of sensitive US technological information
Briton to head development bank
Sir Suma Chakrabarti will be the first non French or German president of the European Bank for Reconstruction and Development
China property prices extend decline
Home prices in 46 out of 70 Chinese cities fell in April, indicating that prospects for a rebound remain distant for a key driver of growth
Faltering start for the new Facebook
Glitches delayed the opening of trading and underwriters had to intervene to prevent the group’s shares falling below the $38 price set on Thursday
Chinese desert Hong Kong art market
Sales from mainland buyers halved at Sotheby’s spring auctions, which CEO Kevin Ching blames on Beijing’s tightening of access to credit
Iran helps Syria defy oil embargo
A tanker attempts to evade detection by switching flags and ownership, as it assists the Assad regime in bypassing international sanctions
Russian crop damage worries lift wheat
Concerns over the past few weeks about limited rainfall in southern Russia push US benchmark prices for the grain to an eight-month high
Resource stocks mirror global economy
Decline of groups involved in supplying essential raw materials for business show how investors really feel about the global economy’s direction
Repsol cancels LNG shipments to Argentina
Spanish group scraps nine deliveries of liquefied natural gas worth $360m in wake of YPF seizure over alleged ‘contract violations’ by Buenos Aires
Vale hires advisers for oil and gas assets
Brazilian miner hires Citibank and Scotiabank with a view to either selling the assets or spinning them off into a new company
Graff Diamonds sets IPO share price
The jewellery producer and retailer will market shares for its $1bn Hong Kong listing at HK$25-HK$37, with its founder Laurence Graff set for a $290m windfall
Tehran agrees to meet IAEA chief
Yukiya Amano to meet Tehran’s nuclear negotiator as hopes rise for concessions after four years without agency access to sites
G8 leaders urged to focus talks on growth
Barack Obama says the summit of the world’s leading economies will focus on ways to promote growth in Europe and backed fiscal consolidation efforts
LME’s suitors’ bids pass £1bn mark
The IntercontinentalExchange, Hong Kong Exchanges & Clearing and CME Group have all promised to preserve the historic bourse’s open outcry trading pit
Mood sweetens as New York holds sugar dinner
The fall of the real and reports of rain in Brazil hampering the harvest, thus raising expectations of delayed exports, lifts gloom
Japan pushes Asia gas price close to high
Spot prices set to hit record highs this summer as Japan abandons nuclear power and supplies decline after a LNG pipeline was blown up in Yemen