Morning roundup: Zuckerberg off Index, Spain drags down Europe

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:

Rain in Spain

With a European commission head calling for a clear path to economic reform that will soothe investor fears, the chief Spanish central banker announced he will step down early from his post amid concerns over a fresh bailout request from mortgage lender Bankia.

Meanwhile, a new poll reveals sharp divisions among Europeans about who’s to blame for the deepening crisis.

Sucks to be Zuck

While U.S. markets returned from the Memorial Day holiday in strong territory, shares of Facebook continued to go downhill. Wall Street’s darling IPO has been plagued by pricing debacles, and technical issues surrounding the launch have reignited the fears the Street was hoping the fresh IPO would salve.

The falling share price has pushed Mark Zuckerberg off the Billionaires Index of the world’s 40 richest people. The 28-year-old is now only worth $14.7 billion.

India idles

Last week, it was drooping numbers in China that had investors worried about the global growth rate, now India has shown signs its economy is losing steam.

Lawsuits smother innovation

Google skirted patent infringement accusations overseas, but the legal action raises a bigger issue. These constant court battles over small details of an invention or business model can stifle innovation and kill the economy.

See, there was some logic to the theory that the fall of the Roman Empire was precipitated by everyone suing everyone else, and nobody doing any real work.

Enjoy your day, The Editors

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.