The headlines about the US newspaper industry have never been so bleak.
In recent weeks, LinkedIn, the networking website, and the Council of Economic Advisers have reported that the press is “America’s fastest-shrinking industry”, measured by jobs lost; the Newspaper Association of America has shown that advertising sales have halved since 2005 and are now at 1984’s level; and the Pew Research Center has found that for every digital ad dollar they earned, [...]
SAN DIEGO (CN) – A teenager sued MySpace and its former owner News Corp., saying they allowed video and photos of her rape and sexual assault to be posted on the social networking website.
The girl, who was 14 when she says she was raped, says MySpace and News Corp. “had actual knowledge that users of the MySpace website were capable of posting nude and/or pornographic [...]
When President Obama delivers his address on a new job-creation plan to a joint session of Congress on Thursday, he won’t be speaking to a sold-out crowd. Several lawmakers are still determining whether it is worth their time to stay in Washington to hear the president, and some are already planning to skip it.
Republican Rep. Paul Broun of Georgia is the latest to announce that [...]
Singer Sean Kingston is in critical condition in a Florida hospital after a jet-skiing accident Sunday night, according to celebrity gossip website TMZ.
The 21-year-old hip-hop star was operating a jet ski with a female passenger when the personal watercraft crashed into a bridge in Miami, TMZ reported.
A Good Samaritan rescued Kingston and his passenger from the water and they were transported to hospital, where Kingston [...]
A campaign has been launched on Facebook calling for men to beat Saudi women who drive their cars in a planned protest next month against the ultra-conservative kingdom’s ban on women taking the wheel.
The call comes as activists are demanding the release of Manal al-Sharif, a Saudi woman who was jailed for defying the ban.
The page, titled “The Iqal Campaign: June 17 for preventing women from driving,” [...]
LinkedIn Corp., the largest professional-networking website, more than doubled in the first day of trading after its initial public offering.
The stock surged as much as $47.99 to $92.99 and traded at $83.32 at 10:05 a.m. in New York Stock Exchange composite trading. The Mountain View, California-based company sold 7.84 million shares at $45 each, according to a statement released yesterday. The company had raised the proposed range for the share [...]
A panel of federal judges on Monday ruled that Tyler and Cameron Winklevoss can’t back out of the settlement deal they made in a lawsuit charging that Mark Zuckerberg stole their idea for Facebook.
“The Winklevosses are not the first parties bested by a competitor who then seek to gain through litigation what they were unable to achieve in the marketplace,” three Ninth Circuit Court of Appeals judges said in a [...]
By Alistair Barr, MarketWatch
SAN FRANCISCO (MarketWatch) â€” The valuation of Facebook is taking another leap, according to a report Thursday by CNBC.
General Atlantic, a $17 billion investment firm, agreed to buy one-tenth of 1% of Facebook in a deal that values the social-networking website at $65 billion, CNBCâ€™s David Faber said, citing unidentified people with knowledge of the transaction.
General Atlantic is buying about 2.5 million shares [...]
The social networking website is getting rid of 500 positions, or 47% of its employees.
The announcement comes as MySpace continues to be eclipsed by Facebook, and as it tries to reinvent itself as an entertainment website.
MySpace was bought by Rupert Murdoch’s News Corporation for $580m (Â£372m) in 2005, but it has struggled to make money for its parent company.
Mike Jones, MySpace’s chief executive, said the job [...]