Shares of Facebook took another tumble today, continuing a downward spiral that began at the start of the week.

The investment banks Goldman Sachs and Morgan Stanley could be on for a bumper pay day after being selected to float Russia's second-largest mobile phone company on the London stock market.

Hopes are rising of a significant advertising boom from a triple whammy of feelgood events with the Diamond Jubilee, Olympics and Euro 2012 football championship between June and August.

Mack the Knife?

Abanker facing burn-out may not make the most sympathetic of central characters, which is perhaps why the protagonist of Aifric Campbell's third novel – a 28-year-old female investment banker – is an anti-heroine. Geri Molloy is a big fish at Steiner's, having made her name by catching the firm's biggest client. Outwardly, she is riding high in the sector's 1990s heyday, but privately is grappling with an emotional crisis that threatens to sabotage her success.

Shell is setting up shop in Kenya and Mozambique after agreeing to buy the East Africa-focused oil and gas company Cove Energy for nearly £1bn.

Kohlberg, Kravis & Roberts (KKR), the US buyout firm, threw a lifeline to the Coryton refinery in Essex yesterday, striking an agreement that will keep it in business for the next three months.

Don't put your money on the bookies, was the advice being given out to punters yesterday. William Hill was left near the back of the pack after it and its rivals were attacked for giving worse odds to gamblers in their shops than those who choose to make their wagers online.

Facebook wants us to think it is worth four times as much as BT. Potential investors will argue otherwise

Goldman Sachs boss Lloyd Blankfein has failed to win the coveted role of lead banking adviser in the Facebook stock market float, despite having already invested in the social networking website.

Goldman Sachs boss Lloyd Blankfein has failed to win the coveted role of lead bank in the Facebook stock market float, despite having already invested in the social networking website.

The lacklustre stock market debut for Zynga raises questions over whether the new tech bubble is already deflating, before Facebook's IPO

The US investment banking giant Morgan Stanley took a $1.8bn (£1.15bn) hit yesterday as it settled a long-running legal battle over toxic sub-prime debt.