Apple Preparing Upgrade to iCloud  —  Apple Inc. is preparing an upgrade of its online service iCloud that includes new photo-sharing features, according to people familiar with the matter.  —  The new features, expected to be announced at Apple's world-wide developer conference beginning June 11 …

Apple Said to Prepare Thinner Mac Laptops Sporting Intel Chips  —  Apple Inc. (AAPL) is preparing a new lineup of thinner MacBook laptops running on more powerful chips made by Intel Corp. (INTC), people with knowledge of the plans said.  —  The MacBook Pro machines, to be unveiled …

It's official: Facebook offers 50.6 million extra shares for IPO, confirms $34 - $38 price range  —  Facebook has just filed a seventh amendment to its S-1, which you can view here.  —  TechCrunch yesterday reported that FB was going to sell extra shares, and they were spot on.

Here's Yahoo's Official Parting With Thompson Over ResuMess — No Severance, But Make-Whole Millions  —  As I reported earlier today, former Yahoo Scott Thompson left the Silicon Valley Internet giant with no severance.  —  The reason for the agreement was that the company was claiming …

Lenovo announces ThinkPad X1 Carbon, calls it the world's lightest 14-inch ultrabook (hands-on)  —  Lenovo unveiled a blitz of refreshed ThinkPad laptops today, each sporting a redesigned keyboard and Intel Ivy Bridge chips, but it had one surprise in store: the ThinkPad X1 Carbon.

Quora Raises $50M At $400M From Peter Thiel, D'Angelo Puts In $20M Of His Own Money  —  Q&A site Quora has raised $50 million at a $400 million valuation according to a report by the Wall Street Journal and the founders themselves have confirmed to me.  We had reported that Quora was raising …

The best of Twitter in your inbox  —  Starting today, you can discover the best of Twitter in a weekly email digest delivered to your inbox.  This summary features the most relevant Tweets and stories shared by the people you're connected to on Twitter.  —  Stories feature a design similar …

Amazon aims to launch front-lit Kindle in July: source  —  (Reuters) - Amazon.com Inc will launch new versions of its Kindle e-reader and tablet, including a monochrome e-reader with front lighting, a source who has seen the prototype told Reuters.  —  The world's largest Internet retailer …

Head of Time Warner Cable Is Unfamiliar With Apple's AirPlay  —  AirPlay, a software tool included with Apple's iPads and iPhones, is widely viewed as being potentially disruptive to the cable industry, because it makes it easy for people to view a broad variety of Internet content on a television.

As 17 more states join class action against book publishers and Apple, new details revealed  —  New York, the District of Columbia and fifteen other states have joined the e-book pricing class action suit against Apple, Macmillan and Penguin, bringing the total number of states involved so far to 31 (if you include DC and Puerto Rico).

LightSquared, Failed Wireless Venture, Files for Bankruptcy  —  LightSquared Inc. filed for bankruptcy after its plan to deliver high-speed wireless to as many as 260 million people ran afoul of U.S. regulators.  LightSquared, based in Reston, Virginia, listed debt and assets …

AMD reveals Trinity specs, claims to beat Intel on price, multimedia, gaming  —  Itching for the details of AMD's latest Accelerated Processing Units (APUs)?  Then get ready to scratch: Trinity has arrived and, as of today, it's ready to start powering the next generation of low-power ultra-portables …

Audiences Now Rarely Drawn to Live Television  —  This week, when they ring the bell on the television upfronts, the annual orgy of advertising buying, I hope the industry isn't counting on my house to lift ratings.  —  So far in the month of May, our household has watched exactly two minutes and one second of live television.

Apple releases update to Leopard, includes Flashback removal tool  —  While Apple has released updates for both Lion and Snow Leopard to remove the Flashback malware that is making the rounds, the company had not released a fix for Leopard until today.  Apple released a Flashback Removal Security Update …

Columbia Pictures Wins ‘Social Network’ Lawsuit Over Zuckerberg Classmate  —  Almost everyone knows the story of the Winklevii.  Not everyone has heard about Aaron Greenspan.  Is it better to be portrayed as a loser in developing a social network than to be cut out of the story altogether?

Facebook Takes A Cue From Instagram, Redesigns Mobile To Make News Feed Photos 3X Larger  —  If you're sick of interrupting your news feed reading to open and load photos, you'll like a new Facebook mobile site, iOS, and Android app redesign rolling out today that makes photos three times larger.

Best Buy Founder to Step Down in Wake of Inquiry  —  Best Buy Co. founder Richard Schulze will step down as chairman next month after an internal probe found that he didn't alert other directors that his handpicked successor as chief executive, Brian Dunn, was allegedly having an inappropriate relationship with a female employee.

Groupon makes first profit, shares surge  —  Groupon Inc posted its first quarterly profit by reining in marketing spending and signing up more customers and merchants, sending its stock about 18 percent higher.  The fledgling company started by music graduate Andrew Mason …

Fact-Checking Digitimes, the Taiwanese Apple Rumor Source That Keeps Crying ‘Wolf!’  —  “It's key to note that the DigiTimes has a hit-or-miss track record for nailing predictions....”  —  “Digitimes has a spotty track record with regard to Apple rumors...”