SAN FRANCISCO -- Google Inc. forged ahead with its
IPO auction Friday, even as the online search engine leader acknowledged a
newly published magazine interview with its founders contained misleading
information.
The admissions, made in a company filing with the Securities and
Exchange Commission, enabled Google to avoid a last-minute delay in its
long-awaited initial public offering, according to a source familiar with
the negotiations with the SEC, who demanded anonymity.
A Playboy magazine interview with Google founders Larry Page and Sergey
Brin had raised the possibility of an IPO delay because of securities laws
restricting what executives can say before selling stock to the public for
the first time.
Amount of extra oil supply running thin
WASHINGTON -- With so much uncertainty roiling oil markets these days,
analysts say one thing is clear: the world's supply cushion is perilously
thin.
Whether the amount of extra fuel that could be pumped in a pinch is 1
million barrels a day, as many believe, or significantly more than that
doesn't really matter, they say, because the amount of actual production
at risk these days is even greater.
As a result, the threat of output disruptions in Iraq, Russia,
Venezuela and beyond has thrust crude futures above $46 a barrel for the
first time -- the latest run-up coming even after Saudi Arabia offered the
market all it had. If global demand continues to rise at current rates,
don't expect cheap prices anytime soon, analysts said.
Smokers can pursue class-action lawsuit
BOSTON -- Smokers of so-called light cigarettes can pursue a
class-action lawsuit against Philip Morris USA based on the claim that the
tobacco giant advertised Marlboro Lights as less harmful than other
brands, Massachusetts' highest court ruled Friday.
The Supreme Judicial Court's 4-3 decision marks the first time any
state's high court has allowed smokers to proceed with a class action
against the industry over the marketing of light cigarettes. Class-action
status means anyone with a similar complaint against Philip Morris can
join the suit and could be included in any monetary judgment against the
company.
Auctioneer eBay buys craigslist shares
SAN JOSE, Calif. -- Online auctioneer eBay Inc. said Friday it
purchased a 25 percent stake in craigslist, a popular online network of
classified ads and forums.
Financial terms of the deal weren't disclosed. The stake was purchased
from a former craigslist employee who first contacted eBay with the
proposed sale, craigslist officials said.
The auction giant in turn approached craigslist, which has prided
itself on being a profitable, community-driven, privately run business and
maintains it is not looking for corporate buyers
