Officials in western India have suspended two senior police officers for arresting two women because of their Facebook posts. The women were detained for criticizing the shutdown of the country’s financial hub for last week’s funeral of right-wing politician Bal Thackeray. One woman said on Facebook that the city of Mumbai had come to a […]
Indian Police Officers Suspended For Facebook Arrests
Posted November 27th, 2012 at 8:50 am (UTC-5)
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Three Months After Debut, Facebook’s Value Cut Nearly in Half
Posted August 17th, 2012 at 12:05 pm (UTC-5)
The popular Internet social networking site Facebook has lost nearly half its stock value, just three months after its widely heralded debut as a publicly traded firm. Shares of the U.S.-based company were first offered to investors in May at $38, making the company worth about $100 billion, and its first-day share price reached $45. […]
Facebook Loses Money Despite 30% Increase in Revenue
Posted July 26th, 2012 at 5:15 pm (UTC-5)
Facebook, the world’s most popular social network website, says it lost money during the second quarter of the year, despite higher than expected revenue. In its first earnings report since its initial public offering of stock last May, Facebook posted a net loss of $157 million on revenue of $1.18 billion — up more than […]
US Stock Exchange Apologizes for Facebook Stock Snafu
Posted June 7th, 2012 at 1:40 pm (UTC-5)
A major U.S. stock exchange is apologizing and offering $40 million in damages for the technology problem that marred the start of stock trading last month in Facebook, the popular Internet social-networking site. The Nasdaq exchange in New York was initially overwhelmed by the large volume of investors wanting to buy and sell the Facebook […]
NASDAQ Chief Apologizes, Offers Compensation for Facebook Stock Glitches
Posted June 6th, 2012 at 6:40 pm (UTC-5)
The chief of the NASDAQ stock exchange says he is embarrassed and apologizes for the technical problems that led to investor losses on the opening day of trading of Facebook shares. Robert Greifeld told CNBC television on Wednesday that the problems were a low point for NASDAQ. He said he is focused on the future […]
Facebook Stock Falls Below $30 a Share
Posted May 29th, 2012 at 5:40 pm (UTC-5)
Shares in the social networking site Facebook fell to less than $30 Tuesday. The price of Facebook dropped $3.07, almost 10 percent, to close at $28.84. Facebook shares are 24 percent lower since their highly publicized IPO on May 18th of $38. Financial experts say Facebook stock has been hurt by an oversupply of shares, […]
Congress Looking Into Facebook IPO
Posted May 23rd, 2012 at 7:05 pm (UTC-5)
U.S. lawmakers are looking into issues with Facebook’s initial public offering, amid allegations that information about the company’s ability to make money was withheld from some investors. The Senate Banking Committee says its staff will meet with Facebook officials, regulators and other stakeholders. A spokeswoman for the House Financial Services Committee says staff members are […]
US Regulators Looking at the Leadup to Facebook Stock Opening
Posted May 23rd, 2012 at 11:15 am (UTC-5)
Days after social media giant Facebook started publicly selling its stock, financial regulators in the U.S. are taking a closer look at whether key information about the company’s financial prospects was provided to large investors in advance of the sale, but withheld from others. In the days leading up to the start of trading in […]
Regulators to Look Into Facebook IPO as Share Price Drops
Posted May 22nd, 2012 at 8:15 pm (UTC-5)
Massachusetts’ state secretary — the state’s top securities regulator — has subpoenaed investment firm Morgan Stanley over allegations it may have withheld information about the future revenue of Facebook. Shares in the world’s most popular social network were sold in an initial public offering Friday at $38 each. The price of Facebook stock has since […]
Facebook Stock Plunges in Second-Day Trading
Posted May 21st, 2012 at 3:05 pm (UTC-5)
The price of shares of social-media giant Facebook plunged on its second day of stockmarket trading. Investors quickly started selling the stock on the Nasdaq exchange Monday, sending the price of Facebook shares down 13 percent in the first hour. It later regained some strength, but still was down more than 10 percent in midafternoon […]
