Facebook revenue to be billions in 5 years: board member
Facebook will likely be posting billions of dollars in revenue in five years, up from about $500 million this year, according to Silicon Valley entrepreneur Mark Andreessen who sits on Facebook's board.
Daily Wrap Up - July 6 - Industries: Air Traffic, New GM, Rio sale
Less profitable skies as airlines report dropping June traffic, Judge approves sale to New GM, Rio Tinto sells food packaging division for $1.2 billion
S&P raises loss expectations for risky US mortgages
Standard & Poor's on Monday boosted its expectations for losses on risky loans backing U.S. mortgage securities to as much as 40 percent, suggesting a darkened outlook for the troubled housing market.
Nomura plans global prime broking business
Japan's Nomura Holdings plans to launch a global prime brokerage business by September as the financial crisis has created room for new players to serve hedge funds, a senior executive said on Monday.
World Trade Center developer quits negotations
The New York-New Jersey Port Authority on Monday said the World Trade Center developer, Larry Silverstein, had stopped negotiating over his demand for the agency to guarantee his loans for two office towers.
China erupted into deadliest riots since 1989
China has erupted into the deadliest ethnic riots Sunday since the 1989 military crackdown on the Tiananmen pro-democracy demonstrations.
Commercial Real Estate Market Conditions: Activity Still Slow, But Some Bright Spots
The survey is designed to provide REALTOR® members with an overview of the market performance, sales and rental transactions, current economic challenges and future expectations.
Michael Jackson to be laid to rest at Forest Lawn Memorial Park
Michael Jackson will be buried on Tuesday at the Forest Lawn Memorial Park in Hollywood Hills following a private family ceremony hours ahead of the public memorial which will be held at the Staples Center.
Obama agrees arms cuts, Afghan transit with Russia
Visiting President Barack Obama and Kremlin leader Dmitry Medvedev agreed a target for cuts in nuclear arms and a deal to let U.S. troops fly across Russia at the start of a trip intended to mend strained ties.
Ex-Goldman programer out on bail in theft case
A former Goldman Sachs Group Inc computer programer accused of stealing secret trading codes from the financial firm has been released from federal custody after posting bail, authorities said on Monday.
Michael Jackson book a headache for Jackie O
Michael Jackson crossed swords with a lot of people when he was alive, but perhaps none more important than Jacqueline Kennedy Onassis.
EBay bans selling tickets of Michael Jackson's memorial service
The leading auction website EBay said Monday that it is cracking down on those trying to sell tickets for Michael Jackson's memorial service.
Lawyers make final joust in AIG stock case
Maurice Hank Greenberg, former chief executive of American International Group Inc , fabricated documents and lied under oath in a bid to rewrite history and cloud who is the rightful beneficiary of a valuable block of AIG stock, AIG lawyer Ted Wells told a federal jury on Monday.
Honduras isolated, Clinton to meet ousted leader
The United States on Monday condemned violence against protesters in Honduras and called for President Manuel Zelaya's reinstatement as the Central American country faced growing isolation over last week's coup.
Audi saw best-ever H 1 sales in China
Audi AG, a German subsidiary of Volkswagen AG, said on Monday it sold 67,000 cars in the January-June period, the best first-half result ever in the country.
U.S. says has far less than 52,000 UBS account names
U.S. tax authorities have discovered far fewer than the 52,000 accounts with Swiss bank UBS AG suspected of being used by Americans to avoid taxes, the U.S. government said in a court filing on Monday.
Treasury ready to twist arms over consumer agency
The Treasury Department is warning the financial services industry that it will not back down from its proposal to create a new consumer protection agency, even while lobbyists build a warchest and strategy to defeat the plan.
Chinese pen instant Michael Jackson biography
Two Chinese writers slaved for 48 hours straight to produce an instant biography of late singer Michael Jackson, despite having never met him, a state-run newspaper said on Monday.
Chip maker unveils lowest-noise LMX2541 frequency synthesizer
National Semiconductor Corp on Monday introduced its Powerwise LMX2541 chip, equipped with integrated VCO, the industry's fully integrated lowest –noise frequency synthesizer.
Exiled Uighur leader rejects China riot accusations
Exiled Uighur businesswoman and activist Rebiya Kadeer rejected on Monday Chinese allegations that she was behind rioting in China's northwestern Xinjiang region that left at least 156 people dead.
Ricketts, Tribune reach deal for Cubs: source
The Ricketts family has reached a deal to buy the storied Chicago Cubs baseball team from bankrupt media company Tribune Co for slightly less than the original $900 million bid, a source familiar with the deal said on Monday.
Daily Wrap Up for July 6 - Finance
More mortgage losses expected
Standard & Poor's Monday boosted its expectations for losses on risky loans backing U.S. mortgage securities to as much as 40 percent, suggesting a darkened outlook for the troubled housing market. According to a S&P report the more dire assessment is likely to significantly impact bonds originally carrying AAA ratings.
Did You Know: Size of Home Purchased
The American Institute of Architects recently released a study, AIA Home Design Trends Survey, showing there is a growing demand away from McMansions and towards homes that are smaller.
Michael Jackson memorial participants: Mariah Carey, Stevie Wonder
Singers Mariah Carey, Usher and Stevie Wonder are among those scheduled to participate on Michael Jackson's memorial service on Tuesday, according to CNN, citing a statement from the Jackson family.
Summertime....Will the Home Buying be Easy?
It was a good kick-off for the summer season. The pending home sales index figure that was released earlier this month marked a third straight month of rising pending sales. That is certainly welcome and encouraging news.
Midday Minute - July 6 - Energy
Toyota to mass produce plug-in electric cars by 2012, EU pushes U.S., Japan to a climate change limit, China to build its biggest wind power facility
Wrap up - July 6 - Energy
Emissions from U.S.power plants drop in 1Q, U.S. to deploy officials to China to highlight clean energy, Toyota's hybrid tops best-selling cars in Japan in June
Daily Wrap up July 6 - Tech
Netscape founder Marc Andreessen said in an interview that he expects Facebook's revenue to be in excess of $500 million in 2009, and estimates that in five years, it'll be well into the billions.
Rio sells U.S. food packaging unit for $1.2 billion
Global miner Rio Tinto further improved its cash position on Monday by selling a part of its food packaging business to Bemis Co for $1.2 billion in a deal that makes Bemis by far the largest North American player in a still fragmented industry.
Remodeling Industry Shows Signs of Rebound?
The home remodeling history has taken a hit in recent months but finally may be starting to show signs of picking up, according to the Web site www.remodelormove.com and its latest Remodeling Permit Activity Report.