News Corp will withdraw its bid for British broadcaster BSkyB, the company said. Breakingviews columnist Chris Hughes writes James Murdoch should stage his own tactical retreat and resign from News Corporation.
Zynga Inc filed paperwork for an initial public offering on Friday, the latest in a series of hot social media companies to seek capital in the U.S. public markets. The company, which is behind a series of popular games on Facebook, said it hoped to raise up to $1 billion. It did not specify the number of shares it plans to sell or give an expected price range.
Commodities trader Glencore made a steady market debut with shares trading just above the widely expected launch price of 530 pence, giving it solid currency for potential acquisitions.
As centers of innovation go, there are worse places to place a bet on the past repeating itself than California’s technology hub. Looking beyond the Internet, housing and credit bubbles, it’s still the preferred playground of such leading financial weathervanes as venture capitalists, gizmo nerds and software studs.