Shares in Facebook fell sharply shortly after markets opened in the US on Monday, falling by more than 13%, below Friday’s listing price of $38/share, as investors fretted about the company’s ability to grow as quickly as the high listing valuation demands. The share, which seesawed in its first day
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On Friday, social network Facebook will list on Wall Street in the third largest initial public offering (IPO) in US history and the largest in the technology sector. The initial share price is set at US$38 and, with 421m shares being listed, the move will make
Apple is set to release a major update to its cloud service, iCloud, that will include new features for sharing images and may be positioned to compete with Instagram, the social photography service that was recently acquired by Facebook for US$1bn in cash
Facebook knows one of the biggest challenges it faces is monetising its mobile platforms and so it’s gradually overhauling them to do just that. When it originally filed its S-1 documents ahead of its listing on the stock market, Facebook conceded that its inability
The UK’s Advertising Standards Authority is investigating claims by Apple that its new iPad supports fourth-generation (4G) mobile networks. According to a report by the BBC, the regulator is concerned that Apple may not be complying with an agreement to amend claims about the tablet computer’s capabilities
Troubled phone maker Nokia is attempting to unload its luxury mobile-phone brand, Vertu, for a reported $265 million (€200 million), the Financial Times is reporting. Nokia is being advised by Goldman Sachs on the deal and is currently in talks to sell the brand to private equity group Permira. For the baller
Can reality trump art? That was the question hovering over the launch on 24 April, at the Museum of Flight in Seattle, of a plan by a firm called Planetary Resources to mine metals from asteroids and bring them back to Earth. It sounds like the plot of a film by James Cameron — and, appropriately, Cameron is indeed one of the company’s backers. The team
There is a certain Darwinian poetry in the fact that Cable & Wireless Worldwide, a remnant of a once mighty telecommunications empire based on telegraph wires and established in the 1850s, looks set to be eaten up by Vodafone, a contemporary telecoms industry giant born only in 1985. Even as late as 1999, C&W (CWW’s predecessor
Apple announced its second quarter earnings Tuesday, turning it US$39,2bn in revenue, beating analyst estimates of $36,8bn. The company raked in $11,6bn in net income. Year over year, Apple’s net profit increased by 94%. Last quarter, Apple announced $13,1bn in net profit, blowing Wall Street estimates out of the water
Apple announced it has sold 11,8m iPads since the company debuted the tablet in early March. The number reflects a 151% increase over iPad sales during the same quarter a year ago. The company released its third version of the iPad this quarter, starring the new “Retina” display (2048-by-1536 resolution), which quadruples the amount of pixels packed