NEW YORK — In one of the largest initial public offerings of stock ever, Facebook said Thursday that it is raising at least $16 billion for itself and its early investors in a transaction that values the world’s definitive online social network at $104 billion.
NEW YORK — After amassing a huge cash hoard, Apple Inc. is finally acknowledging that it doesn’t need all that money, saying Monday that it will start paying some of it out to shareholders in the form of a dividend and share buyback program.
SAN FRANCISCO — Steve Jobs, the mind behind the iPhone, iPad and other devices that turned Apple Inc. into one of the world’s most powerful companies, resigned as the company’s CEO on Wednesday, saying he can no longer handle the job. The move appears to be the result of an unspecified medical condition for which he took an indefinite leave from his post in January. Apple’s chief operating officer, Tim Cook, has been named CEO.