Morning in brief: Facebook reports profits slip
Social network Facebook has reported its first quarter-on-quarter decline in profits for two years.
The news comes ahead of the company’s intial public offering (IPO), which is expected to be the biggest in history for an internet company, according to Reuters.
Francois Hollande, the winner of the first round of France’s elections, has blamed the rise of National Front leader Marie Le Pen on the austerity measures being felt across the eurozone.
Le Pen took 17.9% of the vote in the first round, a record high for the nationalist party, reports Bloomberg.
Fresh concerns over the eurozone led investors to again retreat into German bunds yesterday, plunging yields on 10-year bunds to record lows, writes the Wall Street Journal. French bond yields also rose Monday, after the first round of France’s elections.
Facebook, the BBC writes, is to pay Microsoft £341m for some of the patents it recently bought from AOL.
Will Dale Nicholls do a better job than Anthony Bolton running the Fidelity China Special Situations trust?