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Shareholders Cut CEO Pay in Backlash
21 May 2012 at 5:48pm

Dan Hesse, chief executive officer of Sprint Nextel Corp., speaks during a keynote event at the Mobile World Congress in Barcelona, Spain, March 1, 2012.

It was a good day for owners of U.S. equities Monday, with stocks putting together a solid rally to ease some of the sting of the recent run of weak performance.

After a weekend that brought both fresh concerns about Europe and hopeful signs about China, investors decided to focus on the latter.

A woman points at the parliament building during a protest in front of the Greek parliament on April 5, 2012.

British bank Barclays is selling its near-20 percent stake in U.S. asset manager BlackRock, worth $6.1 billion, as tougher global regulations have cut the attraction of such holdings.

On the Nasdaq market, however, Facebook's shares slid below their $38 issue price as support from underwriters of the initial public offering dissipated after its Friday debut.

Stock index futures rose on Monday after Wall Street posted its worst weekly loss for the year and on assurances that world powers want debt-laden Greece to remain in the euro.

Reuters reports that U.S. fund manager BlackRock Inc on Monday named Justin Arter as head of its Australian operations, replacing Damien Frawley who is moving to head Queensland Investment Corp .

Barclays has announced that it has hired four Investment Representatives who will be based in New York in the Wealth and Investment Management division.

Volatility has returned to Wall Street as the political gridlock in Greece has re-focused investors' attention on the looming debt crisis overseas.

Facebook on Friday sold 421 million shares of stock in a deal that valued the company at more than $100 billion.

The United Kingdom's Trade & Investment Committee, also known as the UKTI, is stepping up support for this year's EuraMedia Summit in Boston, Massachusetts.

I see where James Gorman, CEO of the investment house Morgan Stanley, has seen his compensation for 2011 drop a quarter from last year.

The Bank of England: Michael Cohrs, a member of the financial policy committee, says UK banks are ready for a Greek exit from the eurozone.

Facebook went public Friday May 18, 2012 almost three years into a recovery, while Lehman Brothers collapsed Monday September 15 2008, almost a year into a recession.