Morning roundup: Facebook fury; Executive pay; Debt problems everywhere

We’re committed to keeping you and your clients up-to-date with global industry news. Every morning, we offer articles from around the web. Here are some selections:

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Facebook fury IPO fury at Facebook is proving a welcome distraction on Wall Street. The most anticipated stock offering so far this century got an extra bit of juice when it was announced the share ceiling had been raised.

The company continues to see some curves on the road to riches, most recently the loss of $10 million in advertising revenue following a decision by General Motors to pull off the site.

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Bank shareholders may curb pay An initiative to allow shareholders of EU banks to cast votes on executive pay is the talk of the Eurozone. Aimed at curbing excessive packages, it coincides with an auditor’s call for pay clawbacks at JP Morgan Chase.

Banks are firing back, though. Internal discussions continue on ways to limit impact of the Volker Rule, and also hamper interference by ratings agencies and curb the amount of data they can collect.

Problems at JP Morgan Chase continue to come to light as the bank becomes a poster child for the dangers of complex derivatives trading. Turns out traders on different desks at the bank were buying their own risky positions from one another.

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Debt problems all around As Greece ponders its place in the European Union, prime ministers of both France and Germany say they want the debt addled country to remain, but urge it stay the course on Austerity.

Greece has a new friend in the world when it comes to debt troubles. U.S. Congressional leaders say they’ll demand drastic spending cuts in exchange for raising the country’s debt ceiling.

All this has been good for bonds, as investors flock to debt issued by so-called safe countries, despite return rates that run below inflation.

And, well, you know things are odd when the Financial Times runs a story on how John Maynard Keynes would have solved the Euro crisis; and when they break out that old chestnut headline Capitalism is Still the Best System There Is.

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Enjoy your day, The Editors

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