The real value of Facebook's stock appears to have become a contentious issue - while a $240 million investment by Microsoft for a 1.6 percent stake in the company in 2007, puts Facebook's value at $15 billion, the company claims its own evaluation to be $3.7 billion.
In June last year, Facebook's self appraisal pegged the price of its privately held stock at $8.88 per share; while the Microsoft investment put the related figures at $35.90 per share.
The incongruity with regard to Facebook's actual worth has come to light because of the revelations pertaining to the Palo Alto-based company's $65 million lawsuit settlement with ConnectU.
Rate holds firm while other rates whipsaw; clears more stops close-in above the market from sellers yesterday on failure to hold
1.3030. Stops and active buying over the 1.3040 area traders say; those were the late buyers I think. Rate appears to be ready to close on the 1.2900 handle; fails into end of day but holds inside range day.
Aggressive sellers likely to try and cap above key 1.3030 area; failure to hold 1.2900 today likely to signal a further break back to 1.2700. The dip is a buy opp but be nimble. Cross-spreaders likely pressure as crosses are unwound. Close above 1.3030 needed for further upside until then rallies likely to be sold into support around 1.2620/30 (?).
The USD continues to trade mixed today after US data failed to inspire traders one way or the other. GBP fell to a new traded low of 1.4315 before reversing back to the 1.4370 area in lighter volumes; cross-spreaders continue to work the sell side of the rate into the New York close. Overnight UK data was also benign and remarks somewhat dovish but the rate remains firm on the 1.4300 handle ahead of more US data tomorrow. Traders expect more two-way action near-term so aggressive traders looking to buy the dip under the 1.4380 area remember to be nimble. EURO was unable to score a new low-print in afternoon trade and remained mired around the 1.2880 area after testing both sides of that zone; offers above the 1.2910 area capped the upside while bids around 1l2850 supported.
The Indian economic system will grow by 7% during the existing fiscal even as latest projections by worldwide agencies like the International Monetary Fund (IMF) stated that the economies of developing countries would shrink by 2%.
This was stated by Union External Affairs Minister Pranab Mukherjee at the 81st annual general meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI).
Speaking on this, Mr. Pranad said, “I am proud to say that in 2008-09 India will still grow by 7 per cent.”
The real value of Facebook's stock appears to have become a contentious issue - while a $240 million investment by Microsoft for a 1.6 percent stake in the company in 2007, puts Facebook's value at $15 billion, the company claims its own evaluation to be $3.7 billion.
Due to heavy selling in IT, oil and gas stocks, the market slipped further downwards this afternoon. 
The Indian economic system will grow by 7% during the existing fiscal even as latest projections by worldwide agencies like the International Monetary Fund (IMF) stated that the economies of developing countries would shrink by 2%.
