Here is a round-up of the financial news from around the world:
1. Royal Bank of Scotland Plc (RBS) posted a larger-than-expected full year loss of just under £7 billion, the bank said Friday, after massive litigation and writedown costs hammered the bottom line of the taxpayer owned bank.
2. Pearson (PSO) shares were volatile on Friday after the publishing group said it would launch a strategic review of its Wall Street English and Global Education businesses following a full-year pre-tax loss of £2.56 billion ($3.3 billion).
3. IAG plc (ICAGY) shares traded firmly higher Friday after the British Airways parent posted stronger-than-expected full year profits and launched a €500 million share buyback program.
4. UniCredit (UNCFF) shares traded firmly on Friday after it said that investors have taken up the bulk of its record capital raise on the first day of its offering yesterday in Milan.
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Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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