Sources say social network has raised price target to $34-$38 a share, potentially valuing the company at more than $100bn
Facebook has reportedly increased the price range in Silicon Valley’s biggest-ever initial public offering to raise more than $12bn (£7.4bn), giving the social network a valuation potentially exceeding $100bn.
The company founded in a Harvard dorm room by Mark Zuckerberg, who turned 28 on Monday, raised the price target to $34-$38 a share – up from $28-$35 – in response to strong demand, according to sources.
That would value Facebook at roughly $93bn …

It’s the week that Facebook shares are likely to start trading in New York, a seismic event in the technology and business world. It promises to be the most valuable stock market debut ever for a technology firm – and there are already expectations that the share price will then soar as investors rush to get in on the act. But suddenly there seem to be quite a few reasons to be bearish about Facebook.
The main cause came from the company itself, which updated its advice to investors in official …

Carroll Shelby, the legendary auto racer and car designer who built the fabled Shelby Cobra sports car and injected testosterone into Ford’s Mustang and Chrysler’s Viper, has died at the age of 89.
Decades after a heart condition forced him to retire from racing, Mr Shelby still loved to drive muscle cars and spent time testing his last Mustang Shelby GT500, which sets a new record for horsepower and hits a top speed of more than 200 miles per hour.
His fabled Shelby Cobra sports car became an automotive and cultural icon, …

Facebook’s $1bn acquisition of photo-sharing app Instagram may be delayed for up to a year, after a complex competition investigation has begun, according to a report.

The Financial Times has cited “two people familiar with the matter” to support the claim that the Amercian Federal Trade Commission has begun a competition probe – which could delay the deal from completing beyond the end of June.
Facebook executives wanted the major deal to be completed by this date (the end of quarter two), according to its initial public offering documents.
The postponement of finishing …

Facebook has created its own ‘App Centre’, in which it will showcase the best apps across the web, all mobile platforms and on the social network.
The App Centre will be rolled out over the coming weeks and aims to display the finest Ios, Android, mobile and web apps.
Facebook’s ambition is to help people discover “the best apps” which their friends enjoy using.
The social network, which now has more than 900 million members, will also sell its own apps through the store. The move is being seen as a shrewd one …