Webwire: Facebook files for $5b IPO; LG phone unit back in black

Staff writer
telecomasia.net
Facebook has as expected filed to list on a currently undisclosed stock exchange, and revealed it is seeking to raise around $5 billion from the listing. Many expect the company to be shooting for a valuation of up to $100 billion.
 
LG Electronics’ mobile phone division halted a run of seven loss making quarters with a 12 billion won ($10.68 million) operating profit in 4Q11, despite a drop in sales.
 
Qualcomm has reported a 19% increase in first quarter profit to $1.39 billion, and surpassed analysts' estimates with revenue of $4.68 billion.
 
A Member of the European Parliament (MEP) claims proposed anti-piracy laws he was in charge of brokering could restrict web freedom and even limit the public’s access to lifesaving drugs. Kader Arif quit as lead negotiator of the Anti-Counterfeiting Trade Agreement last week.
 
Cigarettes and alcohol are easier to resist than social networks, research by a US business university shows.
 
Angry web users brought down Ukrainian government websites yesterday, in retaliation for the closure of a popular file sharing website.
 
RIM’s new chairwoman, Barbara Stymiest, plans further changes to the vendor’s board, hinting she may focus more on Asia Pacific to leverage the addition of an Indian-born investor to the firm’s backers.
 
Wikileaks founder Julian Assange has appealed to Britain's Supreme Court seeking to avoid extradition to Sweden to answer prosecutors' questions about rape allegations.

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