+ Overhyped? Facebook shares stumble—Facebook shares eke out a gain in the first day of trade, dampening optimism over the much-anticipated debut for the world’s biggest social network.

+ Locals brace for final act of Greek tragedy—The Australian economy is unlikely to escape unscathed if events in the eurozone take a turn for the worse. Clancy Yeates reports.

+ European money markets dry up—Australian banks have been forced to shift to a cautious footing on funding with money markets in Europe effectively closing.

+ Hammer falls on a glittering career—Life as a lawyer could never match the adrenalin rush of valuing gems for the great auction houses, writes Miriam Steffens.

+ Retail's app crisis—As consumers increasingly consult their smartphones during their shopping trips, the old ways of doing business are facing irrelevancy.

+ Banks to tread with care—Global financial markets here and in Asia were jolted yesterday by fresh fractures in Europe.

+ Miner slugged with $95m tax bill—Businessman Tony Sage's Cape Lambert Resources has entered a lengthy trading halt.

+ Ray of hope in Retravision cash-flow woe—Retravision stores in Victoria, Tasmania and southern New South Wales will continue to trade.

+ Shale the next big thing in gas—It's a resource that could double gas reserves and the hunt is on for fields that may dominate future production.

+ Cape Lambert halts trading after tax slug—Tony Sage's Cape Lambert Resources has gone into a lengthy trading halt today after being hit with a $95m tax bill.

+ BHP's big message: India isn't making it—Amidst the petty local political noise, the really big message in the speeches by BHP's chairman and CEO this week was entirely missed.

+ Billabong's Merchant backs chairman Kunkel—Major shareholder Gordon Merchant has moved to dispel rumours that chairman Ted Kunkel may soon be asked to step down.

+ Market crash lifts chances of rate cut—Plunging shares and investor jitters driven by the European crisis have increased the chances of another 50 basis point cut by the Reserve Bank.

+ Live: Stocks cop fresh hit—Aussie shares wipe out their gains for 2012 and head for their worst week in eight months.

+ How to create the Silicon Billabong—Lamenting the fact Australians travel to Silicon Valley to further their IT careers is a little bit like worrying about our golfers joining the PGA.

+ Live: Stocks face next hit—The Australian sharemarket is falling in early trade, led down by the miners, after weak US economic data and amid growing contagion fears in Europe.

+ Administration fears for Retravision—Retravision Southern reassures employees that they will be paid if the company falls into administration.

+ Stocks set to tumble—The Australian sharemarket looks set to open sharply lower after weak US economic data and amid growing contagion fears in Europe.

+ Recession, bank run talk: Spain's woes grow—Spain's borrowing costs shoot up, after the country falls back into recession and a report of an outflow of deposits from nationalised Bankia spooks i...

+ Facebook sells shares for $US38—Facebook prices its IPO at the top of the expected price range, valuing the world's No. 1 social network at more than $US100 billion.

+ Facebook shares $US38—Facebook has priced its initial public offering at the top of the expected price range, valuing the world's No. 1 social network at more than $US100 b...

+ Euro contagion fears weigh on stocks—World stocks and oil prices fell overnight on concerns about the health of Spain's banks and the prospect of Greece leaving the eurozone.

+ BHP wants to be free of unions—BHP Billiton has one key goal in demanding reform of industrial relations law: it wants its managers to be free to manage the business as they see fit...

+ CBA ready for Greek shock—Commonwealth Bank has plans to deal with shocks from a possible Greek exit from the euro.

+ Funds' Scarlet Pimpernel—The mysterious Peter Drake is executive director of the ill-fated LM First Mortgage Fund whose investors are hurting badly.

+ Markets Live: Stocks stage late comeback—Australian shares are starting to claw back losses. BHP is leading the market higher, rising 0.9 per cent, but CBA is still down 1.7 per cent.

+ JPMorgan loss rings local alarm bells—CBA boss Ian Narev's first reaction was to call his top risk executive, but says the specific trading strategy used by JPMorgan is different from what...

+ The Scarlet Pimpernel of funds management—The mysterious Peter Drake is executive director of the ill-feted LM First Mortgage Fund whose investors are hurting badly.

+ Fewer hours worked in shift to part time—April’s jobless rate may have fallen - but so has the number of people working standard hours, meaning more are in part-time jobs.

+ Investors dump CBA despite bumper profit—CBA shares slump after the bank said further growth will be challenging, despite another bumper profit.

+ Investors dump CBA—CBA shares slump after the bank said further growth will be challenging, despite another bumper profit.

+ Billabong founder sacked former CEO—Gordon Merchant reveals he personally told former CEO he needed to go, backs Billabong's new boss but stays vague on its chairman's future.

+ Markets Live: Stocks dragged lower by CBA—Australian shares lose ground after posting an early advance. Commonwealth Bank is leading banks lower despite a big third-quarter cash profit.

+ BHP walks out on Altia venture—BHP Billiton has walked out on a joint venture to develop the Altia copper and silver deposit in Queensland.

+ Macquarie in $4b deal for European gas grid—A consortium led by Macquarie Group has bought the Open Grid Europe gas distribution network for $4 billion from E.ON, Germany's largest utility.

+ Markets Live: Miners pull stocks higher—Australian shares head higher despite a late retreat on US markets and continued political uncertainty in Europe.

+ Insolvencies to stay at record highs—Historically high levels of corporate insolvency are tipped to continue in struggling industries, despite this month's hefty cut in interest rates.

+ Investors dump on CBA—Commonwealth Bank reports another bumper profit but indicates that further growth will be challenging as local demand falters.

+ CBA cash profit at $1.75b—Commonwealth Bank has delivered a third-quarter cash profit of $1.75b but said demand for loans remains subdued.

+ Toll share wipeout rises to $800m—Toll Holdings shares continued to tumble today as analysts began downgrading the transport company following its profit warning.

+ BHP goes cool on spend—Jac Nasser backs away from BHPs commitment to spend $80b - the strongest sign yet the company is pulling back.

+ Storm in parting of the red sea—Stockmarkets reeled as dismay swept their halls on the winds blowing from increasingly uncertain Europe and China.

+ Tough time takes toll on Footwork Express—Toll Holdings has flagged a possible sale of its struggling Japanese business, Footwork Express, after slashing its value.

+ Westfield rolls with punches—Westfield has forecast a minor earnings upgrade for the full year based on a combination of profits from asset sales and the effect of its share buyba...

+ 'Please explain' call over Trio Capital theft—Fraud-fighting agencies have been called to account for their failure to pursue those responsible for stealing $176m in Australia's largest superannua...

+ BHP to spend less—BHP Billiton won’t meet its spending target for building mines and expanding assets over the next five years as it sees commodity prices declining.

+ Watchdogs 'too slow' to expose Trio fraud—The superannuation watchdog's repeated failure to recognise fraud in Trio Capital has been criticised by a parliamentary committee.

+ Facebook targets $15b in bigger IPO—Facebook will increase the size of its initial public offering by 25 per cent amid strong demand for the shares, sources say.

+ Euro breakup 'likely'—ANZ chief executive Mike Smith says the breakup of the eurozone is 'quite likely' as countries in the region's south battle to become competitive.

+ Eurozone breakup 'quite likely': ANZ's Smith—ANZ chief executive Mike Smith said the break-up of the eurozone was 'quite likely' as countries in the region's south battle to become competitive.

+ Banks' rates policy weighs on confidence—Confidence rises only slightly, despite the RBA's super-sized rate cut fails, as consumers fret about Europe and the big four banks' rate cuts.

+ Westfield lower funds forecast after asset sale—Westfield has revised down its forecast for funds from operations following the sale of a stake in its US shopping mall portfolio and some UK assets.

+ Toll shares tumble on profit warning—Investors punish Toll after the company warns earnings will fall this year due to weak retail conditions and a poor performance in its Asian arm.

+ Toll shares tumble—Investors punish Toll after the company warns earnings will fall this year due to weak retail conditions and a poor performance in its Asian arm.

+ Markets Live: Greece to weigh on markets—The prospect of more elections in Greece is likely to drag on local markets. More falls on commodity markets may see miners again lead the retreat.

+ St Hilliers placed in voluntary administration—St Hilliers Construction Pty Ltd has been placed in voluntary administration, after a funding ran out for the construction of Ararat Prison.

+ Facebook price hike: greed trumps risk—Investors' appetite for the No. 1 social network seems to trump ongoing questions about its long-term potential.

+ Shares poised to extend decline—Australian shares are poised to resume their retreat today after talks to form a government in Greece failed, raising the prospect of political uncert...

+ JPMorgan chief gets nod for $23m pay—Despite a trading loss of $US2b and counting, Jamie Dimon, CEO of JPMorgan Chase, managed to win approval for his $US23m pay packet.

+ Treasury bullish on economy—Treasury boss says the economy will survive one of the tightest budgets in years in part because its effects are milder than many believe.

+ Deposit rates to feel pinch of margin stress—Pensioners and retirees living off bank interest payments can expect further cuts to deposit rates over the next year.

+ Couple jailed for tax scam—A Sydney couple who ran an airconditioning business have been jailed for fraud over a scheme to reduce tax by funnelling money through Vanuatu.

+ Jobs losses hit real estate as market slips—The real estate sector is in the grips of a 'white-collar' crisis, with more than 200 workers made redundant across the industry as deals collapse.

+ Cyre Trilogy turns up heat in battle for APGF funds—CYRE TRILOGY'S battle for control of four funds run by Queensland property group APGF Management has stepped up a notch, with unitholders rejecting a ...

+ German economy powers on as France's fades—Germany's economy confounded expectations by posting robust growth in the first quarter of the year while France could summon up none at all.

+ ANZ to invest $300m more in China—ANZ will invest a further $300m to support growth in its Chinese subsidiary as part of the bank's push into Asia.

+ First-home buyers thin on the ground—Analysis The property market won't recover its mojo unless first-timers find their way back into the market.

+ Mirabela seeks cash stash for rocky future—Mirabela Nickel, the miner whose price plunged 30% last week, is attempting to create a $120m cash pile for what is expected to be another rocky year.

+ Markets Live: BHP hits three-year lows—The Australian market slumps after ongoing political uncertainty in Greece hits European and US markets.

+ Job security, falling prices dent housing: RBA—The RBA has flagged concerns about falling house prices as one of the chief reasons Australians have gone cool on the real estate market.

+ Shoppers in 'crisis mode'—Further proof of consumer angst has been laid bare with a survey showing Australian shoppers are among the most worried in the world.

+ Battle for Hastings heats up—Bidding for control of Hastings Diversified is hotting up, with a consortium of local and foreign bidders putting a full cash takeover offer on the ta...

+ Local shoppers in 'crisis mode'—Further proof of consumer angst has been laid bare with a survey showing Australian shoppers are among the most worried in the world.

+ Zuckerberg eyes $12.1b birthday present—Facebook has raised the price range on its IPO to $US34 to $US38 a share in response to strong demand, sources say, giving it a valuation exceeding $U...

+ Markets Live: Greek woes weigh on stocks—The Australian market slumps in early trade after ongoing political turmoil in Greece hits European and US markets.

+ PacBrands slumps as KKR walks away—Pacific Brands shares slump after takeover talks with parties including KKR end without an offer being made, and over a weak sales and profit outlook.

+ PacBrands loses suitors—Pacific Brands shares slump after takeover talks with parties including KKR end without an offer being made, and over a weak sales and profit outlook.

+ Eurozone dismisses Greek exit 'propaganda'—Eurozone finance ministers have dismissed talk of Greece leaving the euro as "propaganda and nonsense" and hint at a softening of austerity targets.

+ RBA hints at further rate cuts—The Reserve Bank has fuelled hope of further rate cuts, saying inflation should stay low.

+ RBA hints at more cuts—THE Reserve Bank has fuelled hope of further rate cuts, saying inflation should stay low.

+ Rush for fixed-rate loans before RBA cut—Borrowers flocked to fixed-rate loans in March, driven by pricing and uncertainty about rates.

+ ACCC chews at muzzle over price signalling—The Australian Competition and Consumer Commission launched a probe into price sharing.

+ Qantas, Virgin in battle for business class—Passengers celebrating the prospect of lower fares on domestic flights are in for more treats in the coming months as Qantas and Virgin Australia step...

+ Super fund managers face crackdown on bonuses—Fund managers will find it harder to give themselves big bonus rises during bull markets.

+ Is it time to sell BHP?—Analysis Investors in commodity firms have long worried about lower prices and China. Now there are two more reasons to fret: pigs and shale gas.

+ Borrowers flock to fixed rates—Borrowers flock to fixed-rate loans, driven by attractive pricing and uncertainty about future movements.

+ Markets Live: Shares steady as dollar drops—Shares tread water, as the political turmoil in Greece continues and amid more signs of slowing growth in China, while the dollar hovers around parity...

+ Paladin's shares slide after pay dispute—Australian uranium miner Paladin Energy has fallen more than 4 per cent after Malawi workers walked off its Kayelekera minesite over a pay dispute on ...

+ Markets Live: Shares tread water—Shares tread water, as the political turmoil in Greece continues and amid more signs of slowing growth in China, while the dollar hovers just above pa...

+ Missing forecast: rising population growth—The federal budget papers are missing an important figure: population growth is on the rise again with a 30% jump in recent months.

+ Demand for home loans picks up—In some rare good news for the struggling housing market, home loans have posted a surprise rise.

+ Home loans rise—In some rare good news for the struggling housing market, home loans have posted a surprise rise.

+ Markets Live: Stocks make flat start—As the dollar teeters above parity with the greenback, shares post a slow start on the political turmoil in Greece and more signs of slowing growth in...

+ Entrepreneur's Cheeki idea takes hold—Remember when many of us vowed time and time again that we'd never buy water in a plastic bottle?

+ Shareholders put Brierley in their sights—Sir Ron Brierley discovers that the boot is now on the NZ Shareholders Association's collective foot and aimed squarely at his incumbency.

+ Qantas cuts to come—Union fears up to 1250 Qantas engineers will be axed when airline makes announcement this week.

+ Let's hear it for Cochlear—Cochlear celebrates its 30th anniversary this year, but chief executive officer Chris Roberts is not prepared to rest on his laurels.

+ Facebook listing an upwardly mobile ploy—As Facebook prepares to launch the biggest sharemarket listing in history tomorrow, Wall Street continues to throw its support.

+ NAB joins run for covered bonds—National Australia Bank is considering a fresh issue of covered bonds in coming months.

+ Chevron in Tohoku deal—Chevron say deal with Tohoku is in line with traditional pricing for conventional LNG.

+ Entrepreneur's Cheeki idea takes hold—Remember when many of us vowed time and time again that we'd never buy water in a plastic bottle?

+ The boy with the black stuff—Tony Haggarty has made millions from coal, not once but twice, writes Paddy Manning.

+ US shares dragged lower by JPMorgan—Shares of US banks slumped after JPMorgan Chase said it lost billions on bad trades, but the overall market ended only modestly lower.

+ Environment finds its way into economics—New system presents data in physical and monetary terms, writes Gareth Hutchens.

+ Behind the blowhard—Mining magnate Clive Palmer tends to shoot from the hip, but some of his deals are shrouded in mystery. Tom Allard and Stuart Washington report.

+ Kelly not about to leave—Kelly's personal brand has at times overshadowed that of her own bank.

+ Taxes and charges flying high—Levies, airport fees and fuel surcharges account for over half the cost of an airline ticket.

+ Chinese manufacturers appeal notice—Chinese manufacturers accused of dumping aluminium products are taking legal action.

+ Brew diligence at ale and hearty Coopers—Chairman Glenn Cooper and chief executive Tim Cooper agree on one important aspect.

+ Stocks post biggest weekly retreat in 2012—Australian shares lost ground, led down by mining and financial stocks, recording the worst weekly performance this year as appetite.

+ A company poised to deliver—When is a company with declining sales and falling pre-tax earnings - worth your consideration?

+ Stocks post biggest weekly retreat in 2011—Australian shares lost ground, led down by mining and financial stocks, recording the worst weekly performance this year as appetite.

+ ANZ cuts rates by 37bps—ANZ cut the rate on its standard variable mortgage by 37 basis points, joining other banks in holding back some of last week's RBA rate reduction.

+ Australia's jobless figures need some work—What does it take to have a job in Australia? If you ask the stats folk, the answer is: as little as 60 minutes work a month.

+ A mug's game—Funny how no economist picked up on the surprise fall in the unemployment rate. Then again, predicting what's next is rarely easy.

+ Spreading the pain of PPPs—Public private partnerships too frequently deliver shocker deals but it's not always the taxpayers who foot the bill.

+ Markets Live: JPMorgan loss weighs—Australian shares are trading flat after US banking giant JPMorgan spooked investors with a $US2 billion loss on a failed hedging strategy.

+ NSW signs $2.3b desalination plant deal—State signs $2.3b deal with a consortium for the long-term lease of a desalination plant in Sydney, according to a knowledgeable source.

+ JPMorgan takes $2b hit—JPMorgan Chase loses $2b in a trading portfolio designed to hedge against risks the company takes with its own money, putting pressure on bank stocks.

+ Shares face shaky start of trade—Australian shares are expected to open flat to slightly lower after US bank JPMorgan flagged losses after Wall Street closed, weighing on investor sen...

+ Iron ore shifts into overdrive—The two-speed economy has morphed into a ''three-speed'' economy with iron ore leaving the rest of the mining sector in its wake, Rio Tinto says.

+ Shares poised to rise—Australian shares are expected to open slightly higher this morning, tracking rises in Europe and a slim gain on Wall Street.

+ Markets recover on Greek government hopes—Global markets have recovered on hopes for an end to Greece’s political chaos, with Spanish shares outperforming.

+ Steady as she goes at NAB—With limited options on pricing, one questions whether the current strategy remains sustainable.

+ Falling demand, low prices hit Loy Yang A—Power station thrown into the red in 2011, with little likelihood of a quick turnaround.

+ Lawyers to get large chunk of Centro cash—Litigation funder to recoup about $60 million from the $200 million class-action settlement.

+ Nickel price alarm bells ring for Mirabela—Perth-based Mirabela Nickel's share price has continued to slide today after dropping 30 per cent yesterday, on the back of lower nickel prices.

+ Reality check on mining boom—There is a creeping realisation that the commodities boom is becoming harder work, with project costs blowing out.

+ Optus appeals web broadcast decision—Optus is going to the High Court to appeal the decision that stopped its near-live streaming service to mobile phones.

+ Markets Live: Shares edge higher—Australian shares are heading higher, led by a surge in miners. Banks, though, drag as ANZ goes ex-dividend.

+ Prices out of whack as profits beat goals—So who's having a lend of who? Victoria's electricity distributors are earning much higher profits as service levels slide.

+ Markets Live: Shares run out of puff—Australian shares are trading flat as the initial boost from the surprisingly strong employment figures fades.

+ NAB sticks with mortgage discounts—NAB plans to stick with its mortgage discounting strategy even as the move weighs on profits.

+ Take jobs surprise with grain of salt—Analysis Jobs numbers bounce around and the next move will likely be down again as much of the economy is still soft.

+ Markets Live: Stocks jump on jobless rate—Australian shares have slipped into the red but are still holding up better than global markets, which fell amid concern Greece's debt crisis is worse...

+ Centro settlement deal heads to investors—Lawyers for parties in the Centro class action end ''kabuki dance'' of negotiations and agree to put proposed $200 million settlement to investors.

+ Centro investors to consider settlement—Lawyers for parties in the Centro class action end ''kabuki dance'' of negotiations and agree to put proposed $200 million settlement to investors.

+ Markets Live: Stocks edge higher—Shares ignore negative leads to start the day higher after global markets fell amid concern Greece's debt crisis is worsening.

+ Australian crawl holds back NAB—Analysis While the UK continues to cloud NAB's outlook, the weak domestic economy is also causing headaches.

+ Confident Rio Tinto warns on rising costs—Rio is more confident about the health of the global economy than it was six years ago, but warns on rising costs.

+ Qantas pilots lose Fair Work court challenge—Qantas's long-haul pilots have lost their challenge of the industrial umpire's decision to ban industrial action.

+ Caltex closer to shutting Kurnell refinery—Caltex posts a first-quarter net profit of $106 million, down from $194 million a year earlier.

+ News profit jumps as Carey backs Murdoch—News Corp chief operating officer Chase Carey launches a vigorous defence of his boss.

+ Shares set to follow offshore markets lower—Australian shares expected to open down after global markets fell amid concern Greece's debt crisis is worsening as the nation struggles to form a gov...

+ Brickbats, few bouquets for Swan's budget—Tuesday's budget came under attack from all sides yesterday, with critics saying it was short-sighted and denied much-needed industry stimulus.

+ Billabong coup: chief out—A boardroom coup, perhaps four months in the planning, sees Billabong's 20-year veteran sacked in favour of former Target boss Launa Inman.

+ BHP reshuffles struggling assets—Shuffle a sign of 'long-term faith' in commodities such as aluminium and nickel.

+ Further discipline hinted on Centro—Corporate regulator indicates it may yet take further action as class action finalises.

+ DJs reshuffle in revival bid—Zahra undertakes major step in attempt to revive fortunes of high-end department store.

+ The most profitable bad news ever—Is it really that grim? Despite the great depression, wars, oil shocks, bouts of inflation, equities do better than you might think.

Last new 19/5/12 8:51am.