Facebook stock fell 10.9% in trading Monday, and the knives are out for Morgan Stanley, the lead underwriter in the company's IPO.
It's all happening.
Michael Platt of BlueCrest Capital Management spoke with Bloomberg Television’s Stephanie Ruhle and Erik Schatzker Monday.
The quibble with Barclays' sale of its 19.6% stake in US-based fund manager BlackRock is the timing. The UK bank has been free to sell since last September and eight weeks ago enjoyed the pleasant sight of BlackRock's shares trading above $200 for the first time in a year.
Facebook shares have fallen sharply on a second day of trading, leading to questions about the valuation of its IPO and the handling of the sale by its bankers.
By Eli Lederman
Let's not make a drama out of a crisis. And, hey, what's a few billion between friends ?
Mark Zuckerberg's fortune dwindled by nearly $2bn (£1.3bn) to $18.7bn within minutes on Monday as trading began again in Facebook shares – which promptly plunged by nearly $5, or more than 10%, from their Friday closing price of $38.23.
By William Cohan
The Wall Street Journal reported Friday that it could reach $5bn, but others think that that's a conservative estimate.
Britain could fall into deflation this week for the first time in more than half a century, the result of an escalating supermarket price war and falling energy prices.
GE, in a move to become a pure play industrial company, is exiting the financial services business by selling the bulk of the assets contained in its GE Capital unit and returning most of the proceeds from that disposition to shareholders in the form of a $50 billion share buyback.
Aviva has reduced the maximum payout for its chief executive under a long-term share plan following opposition to the potential £3.4m award for this year.