Facebook has priced its much-hyped stock at $38 a share in advance of its initial public offering Friday. It is expected to be one of the largest IPOs in history and the company is expected to raise as much $18 billion.
Facebook hopes to raise more than $100 billion in its initial public stock offering. In a piece at Slate.com, tech columnist Farhad Manjoo warns that Facebook users can expect to see changes, including lots more ads. But he warns the company must balance profit seeking with the desires of users.
The losses from ill-fated bets made by the bank's London office have been expected to mount. But they're rising even faster than some predicted. Still, JPMorgan's profits from other operations will likely offset the billion dollar blunders.
The Federal Trade Commission has announced that Skechers will pay more than $40 million to settle charges that the company made unfounded claims about its shape-up shoes. The FTC says the marketing was deceptive.
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