Facebook's debut is modest, high volumes cause problems  —  (Reuters) - Facebook Inc shares rose less than expected on their first day of trade on Friday and huge order volume caused technical problems that marred the coming out party of the No. 1 online social network.

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.

Zynga's stock drops 13% during Facebook IPO, trading halted (UPDATED)  —  During Facebook's IPO event, which the world is watching, a company closely tied to it called Zynga wasn't celebrating.  —  Its stock (ZNGA) dropped over 13% and trading has been halted.

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.

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 …

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.

Worries mount as Nokia burns through cash  —  Nokia Oyj is tearing through its cash reserves at an unsustainable rate, raising what some analysts say are serious questions about the struggling Finnish phone maker's ability to stabilize its finances in the months ahead.

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 …

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 …

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.

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.

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 …

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.

Apple no longer censoring the word ‘jailbreak’ in U.S. iTunes Store  —  Yesterday a bit of a hullabaloo was started when it was discovered that Apple was censoring the word ‘jailbreak’ in the U.S. App Store.  Now, that censoring has been corrected, and the word is visible across all categories …

Four Years of App Store: Developers Weigh In On Search, Discovery, and Curation  —  “The App Store is a grand slam, with a staggering 10 million applications downloaded in just three days”.  That's how Apple co-founder and late CEO Steve Jobs saluted the launch of the company's new storefront for iOS …

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.”

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 …

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.