 | Good afternoon Bit |  |  | Facebook's first-half revenue roughly doubled to $1.6 billion, underscoring the world's largest social network's appeal to advertisers, a source with knowledge of its financials told Reuters. Net income in the first half of 2011 came to almost $500 million, said the source, who wished to remain anonymous because privately-held Facebook does not disclose its results. Facebook's stronger results come as investors have pushed its valuation to roughly $80 billion in private markets, with many industry observers expecting the world's No. 1 Internet social network to go public in 2012.
Best Buy said it will offer products online from other sellers through a new third-party Marketplace as the electronics retailer tries to better compete with Internet rivals Amazon.com and eBay. Best Buy Marketplace will add roughly one-third more products online in time for the holiday shopping rush. Buy.com, Mambate, SF Planet, ANT Online, BeachAudio.com and Wayfair are the third-party sellers that signed up for the launch.
Browsing, or aimless navigation by subject or genre that brings you to something unexpected, yet ultimately rewarding, is not well-supported by the search-based or social methods of information discovery that dominate the Web today, Trapit's Laura Larsell argues. Searching dominates. But most of the time, people don't have solid ideas of what they really want to find. What's needed are techniques to more easily group like content, such as the content discovery, personalization and curation platform that Larsell is helping develop, she adds.
An uninspired photo of a plate of sushi discovered by PocketNow may have been captured by Apple's soon-to-be-unveiled iPhone, according to data the site recovered from the image. The data indicated that an iPhone 4 took the pic. But the image was too big and the aperture of the lens too wide to have been captured by that phone, PocketNow wrote. A flurry of sleuthing ensued online, with multiple theories as to the authenticity of the data proliferating and even image-bending that revealed what looked like hands holding the device responsible for the replication of raw fish on a white plate. | | | Iridium to sell new phone, other services | | September 07, 2011 04:51 PM ET | | WASHINGTON (Reuters) - Iridium Communications Inc unveiled what it called the world's most rugged satellite handset on Wednesday as part of a new suite of services designed to run off its 66-satellite global network. | Full Article | | Nvidia up on outlook, analysts skeptical | | September 07, 2011 02:17 PM ET | | (Reuters) - Shares of Nvidia Corp jumped more than 11 percent on Wednesday, as investors bet on strong sales for the company's chips used in mobile devices like smartphones and tablets. | Full Article | | | BUSINESS NEWS
| | Wall Street jumps as Europe debt concerns ease | | September 07, 2011 04:50 PM ET | | NEW YORK (Reuters) - Wall Street bounced more than 2 percent on Wednesday, reversing three days of losses after Germany's top court smoothed the way for Berlin's participation in bailouts that could ease Europe's debt crisis. | Full Article | | Recovery still on the ropes in late summer: Fed | | September 07, 2011 03:16 PM ET | | WASHINGTON (Reuters) - The sluggish recovery failed to gain any speed in recent weeks and softened in some areas with factory activity sputtering and retail sales under pressure, the Federal Reserve said on Wednesday. | Full Article | | Cerberus-owned NewPage files for Chapter 11 | | September 07, 2011 01:16 PM ET | | WILMINGTON, Delaware (Reuters) - NewPage Corp , the biggest maker of magazine paper in North America, filed for bankruptcy on Wednesday, succumbing to falling demand as advertisers and readers move online. | Full Article | | Oil-funded study: More drilling would add 1 million jobs | | September 07, 2011 03:36 PM ET | | WASHINGTON (Reuters) - The United States could create more than one million jobs by 2030 by expanding offshore drilling, limiting federal regulation of shale gas development and quickly approving a Canadian oil sands pipeline, according to a study commissioned by a major oil industry trade group. | Full Article | | | | U.S. TOP NEWS | | | | | RELATED VIDEO | | |  |  | | A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today. |  | | Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents. Register Today. |  | | The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day.. Register Today. | | | » MORE NEWSLETTERS | | | ODDLY ENOUGH | | | | | | |
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