DJIA: Belgian, Italian Borrowing Costs Soar, Euro Finance Ministers Meet at EU Headquarters, Facebook Set to Go Public

Category: Global Markets / Nov 29, 2011 11:16AM EDT
The 17 finance ministers that use the euro met at EU headquarters in a desperate attempt to save their currency today, discussing issues like protecting the global economy from Europe’s debt woes. In company news… AMR Corp, the parent company of American Airlines, filed for voluntary Chapter 11 bankruptcy protection in a New York court today. AMR posted a third-quarter loss of $162 million in October, and currently has $4.1 billion in cash and unrestricted investments on hand. And, Mark Zukerberg’s social media network, Facebook, is looking to finally go public. Zuckerberg’s company hopes to raise $10 billion from the initial public offering, valuing Facebook at $100 billion.