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

Staff writer
02 Feb 2012
00:00
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Daily News

Facebook files for $5b IPO

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.

New York Times

LG phone unit back in black

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.

Bloomberg

Qualcomm Q1 profit grows 19%

Qualcomm has reported a 19% increase in first quarter profit to $1.39 billion, and surpassed analysts' estimates with revenue of $4.68 billion.

Reuters

MEP warns of anti-piracy danger

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.

The Guardian

Social networks top addiction research

Cigarettes and alcohol are easier to resist than social networks, research by a US business university shows.

The Telegraph

File sharing protest hits Ukraine

Angry web users brought down Ukrainian government websites yesterday, in retaliation for the closure of a popular file sharing website.

Reuters

More changes likely at RIM

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.

Bloomberg

Assange appeals extradition at Supreme Court

Wikileaks founder Julian Assange has appealed to Britain's Supreme Court seeking to avoid extradition to Sweden to answer prosecutors' questions about rape allegations.

New York Times

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