business

As more details emerge on the behind-the-scenes events surrounding Facebook's initial public offering, the more upsetting the revelations might become to individual investors.

Just before Facebook went public, a large investment firm named Capital Research & Management indicated to the social network's underwriters that it wanted to take a significant investment in the company. However, according to the Wall Street Journal, citing sources, Capital Research was warned by one of Facebook's underwriters about the social network's declining revenue forecast, leading the investment firm to buy far fewer shares than initially anticipated. Some of the firm's … Read more

Centzy, an online search tool, hopes to get consumers the biggest bang for their buck at local businesses.

The tool, launched at today's TechCrunch Disrupt in New York, gives users a comparison of businesses based on prices, reviews, store hours, and proximity to a user's work or home.

"Ever have the nagging feeling that you're getting ripped-off on your dry-cleaning or oil change?," the company's press release says. "Know instantly with Centzy, the only one-click tool for comparing prices of local businesses you already use."

According to the release, fewer than 10 … Read more

Google's $12.5 billion acquisition of Motorola Mobility will finally close by Wednesday.

Motorola Mobility announced in a Form-8K filed today with the Securities and Exchange Commission that now that the Bureau of the Ministry of the Commerce of China has cleared Google's acquisition, the companies will finalize the transaction "within two business days."

China announced on Saturday that it had approved the acquisition, making it the last major regulator to give the deal the green light. Both the U.S. Justice Department and European Union regulators approved the acquisition in February.

Google announced plans to acquire Motorola Mobility in August for $12.5 billion, … Read more

Last update: 1:37 p.m. PT.

The world's largest social network is now a public company, and though it got off to a good start, the share price story for the day wasn't terribly inspiring.

Facebook today kicked off its IPO day at $38 a share, and in early trading, the company's stock jumped 12 percent to $42.50, and touched a high of $43.20.

But the shares took a startling plunge soon thereafter back to about the starting price before trending upward once again to just over $41 by early afternoon Eastern time. The … Read more

Nokia has been on a cash-spending tear as of late, and most analysts believe there will be no way for the company to stop it.

Reuters today released the results of a poll it conducted with analysts on their thoughts related to Nokia's cash spending. According to the news service, analysts on average believe that Nokia will cut through 2 billion euros ($2.5 billion) in the next three quarters to keep its operation going. If Nokia does so, it would mean that its cash-spending rate would be accelerating: during the last five quarters, it burned through 2.1 … Read more

Facebook today revealed that it will have more shares than expected available to investors when it goes public on Friday. But the social network won't be the one cashing in on it.

Facebook will now offer up to 484.4 million shares of class A common stock, including overallotment, when it goes public on Friday. In a filing yesterday, Facebook revealed that it was only planning to go public with a maximum of 388 million shares. The increase has pushed the maximum amount of cash potentially secured in the offering up $3.66 billion from $14.7 billion to $… Read more

Facebook today revealed that it will be offering more Class A common stock than initially anticipated, in a move that bulks up its breathlessly awaited IPO by almost 25 percent.

In a revised S-1 Registration Statement filed with the Securities and Exchange Commission this morning, Facebook said that it will now offer 421.2 million shares of class A stock when it goes public on Friday. The company has also upped the amount of shares it will allow for overallotment from 50.6 million to 63.2 million. All told, the company could offer 484.4 million shares when it … Read more

Facebook's initial public offering is set to take place later this week. But a key component in that process -- accepting orders from investors -- is ahead of schedule, according to a new report.

The world's largest social network is planning to stop taking orders for its IPO as early as tomorrow, according to Bloomberg, citing a source. Facebook had initially anticipated calling off its orders on Thursday, but due to stronger-than-expected demand, it's pushing its schedule ahead somewhat.

Facebook last week set out on its roadshow across the U.S. Prior to an IPO, a roadshow … Read more

Panasonic has joined a growing list of Japan-based companies that suffered through a difficult 2011 and early 2012.

The company today announced that it generated 7.8 trillion yen ($97.6 billion) during the fiscal year ended March 31, down 10 percent compared to the prior year. What's worse, it lost 772 billion yen ($9.7 billion) during the 12-month period, reversing the 74 billion yen profit it generated in the prior year.

Although Panasonic said that the losses were due in part to natural causes, including the floods in Thailand and the earthquake in Japan, the company also … Read more