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Facebook Soaring Stock Closes above $38 IPO Price

Facebook's resurgent stock has closed above its IPO price for the first time since the online social networking leader made its debut on Wall Street more than 14 months ago.

The shares gained 56 cents to finish Friday's session at $38.05. That's the stock's highest closing price since ending its first day of trading at $38.23 in May of last year.

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Qatar Sends Gas Aid to Egypt

Qatar on Friday announced it has shipped a consignment of liquefied natural gas as aid for the Egyptian people, in its first such gesture since president Mohammed Morsi's overthrow.

State news agency QNA said the LNG shipment was loaded on Thursday and was headed for Egypt on a gas tanker.

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Spain Basks in Summer Jobs Boom

Spain basked in a summer jobs boom in July when the number of people registered as being unemployed dropped for the fifth month in a row, government figures showed Friday.

The number of jobless benefit claimants fell from the previous month by 64,866 people, or 1.36 percent, to 4.70 million in July, according to raw figures issued in a report by the Labor Ministry.

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Australia Plan to Tax Bank Deposits

Australia plans to slap a levy on bank deposits to help boost its coffers with the money raised used to protect savings against a bank collapse, sparking criticism Friday from the industry.

It was widely reported that a 0.05 percent tax on deposits up to Aus$250,000 (U.S.$223,255) will be collected from 2016, raising a forecast Aus$733 million in its first 18 months.

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Bank of America May Face Civil Charges over Financial Crisis

Bank of America may face civil charges over its actions during the financial crisis related to its mortgage products, the bank said in a filing to a U.S. regulatory agency Thursday.

The bank "has received a number of subpoenas and other requests for information from regulators and governmental authorities regarding MBS (mortgage backed securities) and other mortgage-related matters," it said in its quarterly report to the Security and Exchange Commission.

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Fast-Growing Etihad Takes Stake in Struggling JAT

Etihad Airways says it plans to acquire a 49 percent stake in Serbia's JAT Airways in a wide-ranging deal that will bring a new name and expanded routes for the struggling Belgrade-based carrier.

The pact is the latest partnership for fast-growing Etihad, which is locked in competition with other Gulf carriers, the Dubai-based Emirates and Qatar Airways.

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Procter & Gamble Adjusted 4Q Results Beat Street

Procter & Gamble Co. says its fiscal fourth-quarter net income dropped due to a write down related to its Braun Appliance business and other one-time costs but adjusted results beat expectations.

Its shares edged up 1 percent in premarket trading.

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Sony Returns to Quarterly Profit on Cheap Yen

As a slew of big-name Japanese companies report improved quarterly earnings, one theme is taking the sheen off their rosy numbers: mainstay businesses are still struggling despite the perk from a weaker yen.

The latest example came Thursday from Sony Corp. The Japanese electronics and entertainment company reported a 3.5 billion yen ($35 million) April-June profit, a reversal from the 24.6 billion yen loss it suffered the previous year.

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Japan Lifts GM-Linked Ban on U.S. Wheat Imports

Japan resumed imports of some U.S. wheat Thursday, ending a two-month suspension that came after genetically engineered crops were found on an Oregon farm.

The agriculture ministry purchased 89,579 tons of Western White on Thursday, an official with the ministry's trade division said.

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Qatar Airways Says Grounded Dreamliner Back in Air

A Qatar Airways Boeing 787 Dreamliner resumed flights on Wednesday after being grounded for several days because "technical components required replacement," the company said.

"The aircraft flew today 31st July 2013 to (the start point of) one of Qatar Airways' four Boeing 787 operated routes," it said in a statement.

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