I think this is a problem with the XML feed itself.
See this article.
Load the string with file_get_contents, and do a str_replace on the amperand to
&
So leaving you with
$xml = simplexml_load_string(str_replace('&','&',file_get_contents('https://developers.facebook.com/blog/feed/')));
EDIT:
Just seen in the comments, this has been tackled before and the str_replace can be improved from my original to
$xml = simplexml_load_string(str_replace(array("&", "&"), array("&", "&"),file_get_contents('https://developers.facebook.com/blog/feed/')));
This avoids converting already correctly encoded ampersands.
EDIT 2 :
Facebook redirects requests from file_get_contents to a browser select page. So we need to 'trick' it into thinking we're using a regular browser.
$url='https://developers.facebook.com/blog/feed/';
$crl = curl_init();
$timeout = 5;
curl_setopt ($crl, CURLOPT_URL,$url);
curl_setopt ($crl, CURLOPT_RETURNTRANSFER, 1);
curl_setopt ($crl, CURLOPT_CONNECTTIMEOUT, $timeout);
curl_setopt($crl,CURLOPT_USERAGENT,'Mozilla/5.0 (Windows; U; Windows NT 5.1; en-US; rv:1.8.1.13) Gecko/20080311 Firefox/2.0.0.13');
$ret = curl_exec($crl);
curl_close($crl);
$xml = simplexml_load_string(str_replace(array("&", "&"),array("&", "&"),$ret));
var_dump($xml);
The first answer should work in most cases, but edit 2 is for the Facebook Dev blog, or any other that redirects based on the user-agent header.