An Austrian law student said his class action challenging Facebook (FB.O) for alleged privacy violations had gathered support from 60,000 users and passed its first legal review.Max Schrems, who already has a case involving the social network pending at the European Court of Justice, is claiming damages of 500 euros ($663) per user from U.S.-listed Facebook. The $195 billion company has 1.32 billion active users.
Regions
Foresight wins Goldman big role in China's preferred shares deals
As Chinese banks prepare to raise $55 billion in the country's first preferred share offers, foreign investment banks with experience in structuring such deals are ready to pounce on a potential $275 million in underwriting fees.
U.S. venture firm Kleiner Perkins suffers security breach
California detectives are investigating a July computer theft at storied venture capital-firm Kleiner Perkins Caufield & Byers, a spokeswoman for the Menlo Park police said on Thursday. The theft may put Kleiner in jeopardy of losing valuable financial data and making the firm the latest in a long list of businesses that have lost sensitive information to thieves. In this case, the information was taken by physical, not electronic, means.
Germany gives nod to RWE unit sale to Russian investor: sources
Germany's economy ministry will approve the sale of utility RWE's (RWEG.DE) oil and gas unit DEA to a Russian investor despite tensions between Russia and the West over the Ukraine crisis, two people familiar with the matter said.
Intuit forecasts much bigger loss for current quarter
Intuit Inc, the developer of tax-preparation software TurboTax, forecast a much bigger first-quarter loss, citing restructuring in its small business group unit. The company forecast a current-quarter loss of 36-37 cents per share. It reported a loss of 4 cents in the same quarter a year earlier.
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Boeing Co (BA.N) has completed a key review of its design for a new commercial venture to fly astronauts to the International Space Station, making it the only one of four rival bidders to finish the NASA work on time, company officials said on Thursday.
Gold held near a two-month low on Friday and was headed for its worst week in five, hurt by strong U.S. economic data and fears that the Federal Reserve could hike interest rates sooner than expected.
An index of Asian shares neared a six-and-half-year peak on Friday and was poised for a weekly gain, after upbeat U.S. economic data sparked another record close on Wall Street.
EBay Inc (EBAY.O) is considering a spinoff of PayPal, its fast-growing payments unit, as soon as next year, tech news website The Information reported, citing sources.Shares of the online retailer jumped nearly 4 percent to $55.48 at midday.
Americans resold their homes in July at the fastest pace in almost a year, a sign the housing market was gaining steam again after a year-long slump.
Chinese antitrust officials have met with their South Korean counterparts to discuss violations by U.S. chipmakerQualcomm Inc (QCOM.O), sources said, as Beijing reaches out to regulators overseas to complete a case that could result in record fines at home.
Norwegian software maker Opera signed a deal to take over the browser building unit of Microsoft's Nokia mobile phone unit and reported second-quarter earnings above expectations on Thursday, sending it shares sharply higher.
Walt Disney Co is ramping up its first major push to promote the "Star Wars" franchise it purchased from George Lucas in 2012, blitzing consumers this year with a mobile game, animated TV show and an expanded line of toys and clothes.
Shake Shack, the fast-food restaurant chain that has developed a cult following for its 'Shackburgers', 'flat-top' hot dogs and eponymous shakes, has selected JPMorgan Chase & Co(JPM.N) and Morgan Stanley (MS.N) to lead a proposed initial public offering, according to people familiar with the matter.
