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(MENAFN - AFP) Oil giant Shell revised down Friday its 2014 net profit, after uncovering an error in the value of its downstream operations one day after posting annual results.

Shell announced in a new statement that annual net profits fell nine percent to $14.874 billion (13.17 billion euros) last year compared with 2013, hit by collapsing global oil prices.

The Anglo-Dutch ...

(MENAFN - AFP) The US government is getting more than $41 billion from an auction of wireless spectrum, highlighting surging demand for new devices that connect to the Internet, officials said Friday.

The Federal Communications Commission, which revised down its estimate from $45 billion, said the auction that ended Thursday raised the highest amount ever for this type of ...

(MENAFN - AFP) Spain returned to growth in 2014 after a six-year slump, official data showed Friday, but the recovery is far from being felt as one in five Spaniards is still unemployed.

The eurozone's fourth-largest expanded by 1.4 percent last year after contracting by 1.2 percent in 2013, according to provisional figures from the National Statistics Office.

It is ...

(MENAFN - AFP) Shake Shack, a hamburger chain that prides itself on fresh ingredients and good service, soared Friday in its first day of trade on Wall Street.

Near 1740 GMT, shares of the restaurant chain were at $48.24 on the New York Stock Exchange, up 129.7 percent from its initial public offering (IPO) price of $21. Shares got as high as $52.50 earlier in the session.

The ...

(MENAFN - AFP) European stock markets closed down Friday, as deflation worries deepened for the eurozone, which was locked in crucial talks with Greece over a possible restructuring of debt.

London's benchmark FTSE 100 index ended the week down 0.90 percent at 6,749.40 points.

Frankfurt's DAX 30 index shed 0.41 percent to 10,694.32 points, and in Paris the CAC 40 fell ...

(MENAFN - AFP) Qatar Airways on Friday snapped up almost 10 percent of IAG, parent of British Airways and Spanish carrier Iberia, in the second European entry by a Gulf carrier.

"As part of efforts to enhance operations and strengthen existing commercial ties... Qatar Airways has acquired a 9.99 percent stake in IAG," the company said in a statement.

The airline's chief ...

(MENAFN - AFP) Greece's new government dramatically escalated its battle with the country's international creditors Friday, refusing to meet EU and IMF officials and rejecting fresh loans offered for February.

Athens had been promised another 7.2 billion euros in funds from the European Union, the IMF and and the European Central Bank if it completed reforms required by its ...

(MENAFN - AFP) Eurogroup chief Jeroen Dijsselbloem on Friday warned Athens against "ignoring" the terms of its international bailout deals after holding talks with Greece's new anti-austerity government.

"Ignoring arrangements is not the way forward," Dijsselbloem told a news conference after talks with the government that wants to renegotiate the bailout and erase part of ...

(MENAFN - AFP) The US economy had its best year since 2010 last year, outpacing all of the other major developed countries as consumer confidence picked up, helped by sinking oil prices.

But a slowdown in the fourth quarter held back the annual growth figure, baring some of the persistent challenges -- like the soaring dollar -- to locking the world's largest economy into ...

(MENAFN - AFP) European stock markets traded mixed Friday as deflation worries deepened for the eurozone, which was locked in crucial talks with Greece over a possible restructuring of debt.

London's benchmark FTSE 100 index dropped 0.17 percent to 6,798.79 points in afternoon trade.

Frankfurt's DAX 30 rose 0.04 percent to 10,741.63 points, with early gains won thanks ...

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