Facebook Shares Open 10.5% Higher At $42.05  —  JOSH CONSTINE AND KIM-MAI CUTLER  —  Facebook shares opened at $42.05, a 10.5 percent increase from its final price last night at $38.  This would value the company at $115 billion.  While the price is going to fluctuate a lot today …

Facebook Sued For $15 Billion In Suit Over User Tracking  —  Facebook Inc. (FB), which is scheduled to begin trading today, was sued by users of its social network in an amended class-action case claiming the company invaded their privacy by tracking Internet usage and seeking $15 billion.

Samsung gets 9 million preorders for new Galaxy phone: report  —  (Reuters) - Samsung Electronics Co has received some 9 million pre-orders for its third-generation Galaxy S smartphone from more than 100 global carriers, the Korea Economic Daily reported on Friday.

RIM, Motorola told Apple they could find a nano-SIM compromise: here it is  —  Eventually, the committee chairman decided to hold an informal vote by show of hands whether each of the two proposals adequately met the jamming requirement.  For the Apple design, seven voting members said it did not, 28 said it did.

GM ad move followed failed Facebook pitch: sources  —  (Reuters) - Facebook may only have itself to blame for why General Motors rained on its IPO parade this week.  —  GM announced the decision to drop Facebook paid ads on Tuesday in what was the first highly visible crack in Facebook's strategy …

Groupon Stock Spike Probed  —  Wall Street Regulator Is Reviewing Jump Monday Before Firm's Earnings Release  —  A Wall Street regulator is examining trading in Groupon Inc. that sent its stock price soaring hours before a favorable earnings announcement Monday, according to a person familiar with the matter.

Exclusive: Yahoo Finally Set to Strike Alibaba Share Deal — Half Now, Then Half of What's Left After Eventual IPO  —  Yahoo is in the final stages of selling a large chunk of its stake in the Alibaba Group back to the company — in a complex deal that is set to include a multi-billion-dollar share buyback …

PayPal handles 60% of web transactions, leaves Google in the dust  —  PayPal processes 60% of web transactions, Google is the fastest payment gateway, and some unlucky surfer had to wait over 92 seconds for his online purchase to complete.  —  Those are only a few of the findings …

J. Crew CEO, Apple Board Member Mickey Drexler Reveals Steve Jobs' iCar Dream, Confirms “Living Room” Plans  —  J. Crew CEO and Apple board member Mickey Drexler offers an insider's perspective on Steve Jobs's vision: “Steve's dream before he died was to design an iCar.”

Reticent Rich: Preferred Style in Silicon Valley  —  MENLO PARK, Calif. — Wealth is here if you know where to find it.  —  Fabulous home theaters are tucked into the basements of plain suburban houses.  Bespoke jeans that start at $1,200 can be detected only by a tiny red logo on the button.

The Top 10 tech startups best positioned to strike engineering gold  —  In today's Silicon Valley, engineering talent is as sought after by companies as gold was by the first prospectors in the Wild West.  Talent is a company's most important asset, so we decided to use LinkedIn's data insights …

Amazon to Sell Ads on Kindle Fire Welcome Screen — If You Have $600K  —  Amazon Seeks Big Money as It Brings Advertising to Its Hottest Tablet  —  The Kindle Fire is Amazon.com's best-selling product, the company said in its first-quarter-earnings release.  And it's being treated that way by the Amazon ad sales team.

UK government staff caught snooping on citizen data  —  Don't worry about hackers illegally accessing government systems.  It turns out government workers and civil servants who are trusted with private citizen data are more likely to access your data illegally.

Facebook Keeps Shipping.  Now You Can Silence Spammy Apps And More With New Notification Controls  —  If there's something on Facebook that won't stop pinging you with Notifications, tell it to shut up instantly with Facebook's new granular, in-line notification controls.

2012 Venture Capital Funding to Facebook Mafia Up 137% vs. 2011.  Greylock is Most Active VC FB Mafia Investor So Far.  —  The Facebook Mafia isn't waiting for an IPO to strike out on their own as company alumni have already raised $271 million of venture capital funding since 2006.

Verizon Clarifies: Unlimited Data Plans Will Die Slow Death  —  Verizon on Wednesday outlined its goals with shared data plans, and some news organizations incorrectly reported that it was killing unlimited data plans the instant that shared data plans were introduced.

Comcast to Replace Usage Cap With Improved Data Usage Management Approaches  —  Today, the way people use video and access information has changed dramatically.  Four years ago, when we first instituted a broadband Internet data usage threshold, the iPhone had just been introduced …

New tailored suggestions for you to follow on Twitter  —  Every day, hundreds of thousands of people sign up for Twitter to get closer to the things they care about — friends, businesses, celebrities, news and information from all over.  If you've used Twitter for awhile …

More Start-Ups Join the $1 Billion Club of Valuations  —  Pinterest Is Latest Start-Up Hitting Rich Valuation; Venture Activity Rivals Dot-Com Boom Days  —  The coveted club of Silicon Valley start-ups worth a billion dollars is quickly losing its exclusivity.

Vyclone video app aims to out-social Viddy and Socialcam  —  New iPhone app connects people shooting videos of the same event, and edits their footage together  —  Video-sharing apps are all the rage in Silicon Valley in 2012.  Well, two are.  Viddy raised $30m in mid-May as it passed 27m users …