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Facebook’s $16bn IPO means nothing today

Facebook’s $16bn IPO means nothing today

The biggest tech event of the year - if you believe the financial pundits - has been and gone, leaving analysts, shareholders and Mark Zuckerberg to pick through the remains of the Facebook IPO. Seldom have so many gathered to stretch credibility and understanding to talk about so little. In the end, despite stock flat-lining in a way that sent delicious shivers of schadenfreude down the spines of those who still can't quite see the worth in shared contemplation of navels, Facebook has more than $16bn of extra cash in its account. For actual Facebook users though - in fact, for just about everyone, even if they're now a shareholder in the company - the IPO is, so far, gloriously irrelevant.

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Bad luck Nokia: Your Next Billion is saying No Thanks

Bad luck Nokia: Your Next Billion is saying No Thanks

You can't make an omelet without breaking eggs, but Nokia's looking more scrambled than anything else today. Some number crunching after Nokia's warning of worse-than-predicted financials for Q1 2012 reveals quite how badly the Finnish company's legacy business is crumbling: the same business that Nokia was relying on to keep it afloat during the Windows Phone transition. The headline figure: a mere 83 million handset sales, down from 108.5m a year ago.

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