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Photo-sharing social network Pinterest valued at $1.5 billion

Move over, Facebook. Pinterest, the social site that lets people “pin” pictures and content to create collections of interest, has become the latest company to be valued at more than $1bn (£630m), following a $100m round of funding. While estimates of the effective valuation implied by the investment vary between…

Facebook to kick off IPO the hacker way: reports

SAN FRANCISCO — Facebook will go public hacker style with an all-night software bending bash to culminate with co-founder Mark Zuckerberg remotely ringing the Nasdaq opening bell on Friday, reports said. Employees were signing up for a “hackathon” to start late Thursday at Facebook’s offices in the Silicon Valley city…

Google searches get smarter

SAN FRANCISCO — Google on Wednesday began making its search engine smarter in a major upgrade that looks beyond query words to figure out what people are actually seeking online. “Knowledge Graph” technology built to recognize people, places or things signified by keywords took its fledgling steps in the United…

GM to pull ads from Facebook

General Motors has confirmed that it is pulling its advertising fromFacebook after determining that paid ads had little impact on consumers. GM has been spending about $10 million on paid advertising and $30 million on unpaid marketing on Facebook. “We are reassessing our Facebook advertising, but we remain committed to very aggressive social media…

China Mobile in talks with Apple over iPhone

China Mobile, the world’s biggest mobile operator by subscribers, said Wednesday the company is in talks with Apple to offer the popular iPhone to its users in the Asian nation. The company’s domestic rivals – China Unicom and China Telecom– already offer the iPhone to their subscribers. “Both sides have been making contact with each…

Judge allows ebook price-fixing class action suit to continue

A judge Tuesday allowed a class-action case to proceed against Apple and six publishing houses alleging a price-fixing scheme for electronic books, citing “ample” indications of a conspiracy. The suit, file last August, is separate from a US government complaint last month which makes similar allegations, that Apple colluded with…

Facebook will stream ‘Casablanca’ Wednesday for 70th anniversary

The stars of much-loved classic film “Casablanca” may always have Paris, but on Wednesday they will have Facebook. The legendary black-and-white film starring Humphrey Bogart and Ingrid Berman will be streamed free at Facebook in the United States to celebrate the release of a 70th anniversary edition by Warner Home…

General Motors plans to pull Facebook ads due to lack of impact

General Motors plans to stop advertising on Facebook because it determined paid ads had little impact on consumers, the Wall Street Journal reported Tuesday, citing people familiar with the matter. The news comes at a bad time for Facebook, which is expected to launch an initial public stock offering Friday…

Facebook raises public offering price after being ‘swamped’ with requests

Facebook has raised its initial public offering price to between $34 and $38 a share after being “swamped” with requests, confounding sceptics who say the social network is overvalued. The new price range is comfortably above the previous guide of $28 to $35, and confirms Facebook’s place in the history…

Authors demand royalties from library ebook lending

Authors are calling on the government to remunerate them when their ebooks are lent from libraries, calling it “patently unjust” that digital titles are currently borrowed with no payment made to the writer. Authors are paid 6.05p every time their physical books are borrowed from the UK’s public libraries, up…

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