published Thu, October 14, 2010

Financial Times

News from Financial Times

• ‘FB’ trading likely to be volatile

  Some experts predict that the strong initial pricing of the social networking group’s shares will tamp down their first day “pop”

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• JPMorgan unit has $100bn of risky bonds

  Chief investment office that lost $2bn builds up huge positions in complex products at the heart of 2008 crash – but bank plans to lower its exposure

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• Dimon to testify before Senate

  Jamie Dimon will appear before the upper house’s banking committee in the wake of his bank’s $2bn trading losses on credit derivatives

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• Spain moves to calm bank fears

  Moody’s conducts downgrade of country’s lenders as the government in Cyprus said it would underwrite a €1.8bn capital raising by Popular Bank of Cyprus

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• Investor anger hits Cairn, Pru and Cookson

  For the first time in Britain’s decade-long history of having a say on pay, shareholders have rejected out of hand the plans of two companies in a single year

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• Facebook prices shares at $38 each

  Facebook will vault into the ranks of top 25 most valuable public companies in the US after pricing its offering at the top of the range

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• UK in cold war doctrine rethink

  Debate has far-reaching implications for country’s nuclear capability and questions the so-called Moscow Criterion, which some see as a relic of the cold war

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• Investors bet on Facebook as gatekeeper

  AOL and Yahoo both once vied for the role of acting as the first stop online for accessing information and communicating with friends and family

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• Two tiers, one crisis for Spanish banks

  Despite the markets now drawing a clear distinction between the country’s strong Big Three and other weaker lenders, risks remain for all

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• 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

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