Economy News

Spain faces bank concerns after downgrade

Friday, 18 May 2012 11:30

Spain's deputy economy minister denied rumours of a run on the Spanish bank Bankia.

STORY HIGHLIGHTSCredit rating agency Moody's has downgraded 16 Spanish banksThe government denied rumors of a run on the Spanish bank Bankia on ThursdayMarket confidence has been dented by continuing political uncertainty in GreeceSpain has seen its borrowing costs...

Read more: Spain faces bank concerns after downgrade

Breaking News Videos from CNN.com

Friday, 18 May 2012 10:30

© 2011 Cable News Network. Turner Broadcasting System, Inc.^[1] All Rights Reserved.

Read more: Breaking News Videos from CNN.com

Internet greets Facebook's IPO price with glee, skepticism

Friday, 18 May 2012 10:30

Facebook was to begin public trading Friday at an initial price of $38 per share.

STORY HIGHLIGHTSFacebook on Thursday afternoon set its initial share price at $38Share price puts Facebook's value at $104 billion at the opening bellOnline, almost every financial or tech expert has an opinion

(CNN) -- Friends may be priceless. But 'friending' is...

Read more: Internet greets Facebook's IPO price with glee, skepticism

Chinese tycoon sentenced to life in prison for smuggling, bribery

Friday, 18 May 2012 06:00

By the CNN Wire Staff

May 18, 2012 -- Updated 0517 GMT (1317 HKT)

Chinese businessman Lai Changxing is escorted by security guards into a Vancouver federal courthouse on July 12, 2001.

STORY HIGHLIGHTSLai Changxing became one of China's businessmen in the 1990sHe fled to Canada after the Chinese authorities accused him of smugglingAfter more than a...

Read more: Chinese tycoon sentenced to life in prison for smuggling, bribery