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Eye on the World: Friday, May 18, 2012
European markets were particularly jittery on Friday, as investors worried about political crises in Greece and Spain and downgrades to the credit rating of several Spanish banks. Moody’s ratings agency also noted, however, that Spanish banks had taken steps to improve their financial situation, and that the support of the European Central Bank would help to stabilize the situation.
“Under God’s government” asserts that our prayers can help reveal answers to economic questions, even on an international scale. The authors quote Mary Baker Eddy’s statement, “To coincide with God’s government is the proper incentive to the action of all nations” (The First Church of Christ, Scientist, and Miscellany, p. 278).
Social network Facebook will begin selling company shares to the public on the Nasdaq index on Friday, with a total value of $104 billion – making this the third-largest initial public offering (IPO) in history. Investors say the share price will increase in trading, although analysts question how Facebook will increase its profitability.
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