Internet kiosk maker pieNETWORKS (ASX: PIE) has reported a $3.4m loss on revenues of about $650,000 for the half year to 31 December 2011, saying it is exploring new directions following its inability to get a commitment from Telstra to purchase a substantial number of its Hotspot Webphones.

Despite the best intentions of everyone, Facebook's IPO was a litany of problems. One could hardly have planned it to be this bad.

After much optimistic hype and almost equally as much pessimistic speculation, the debut of Facebook on the NASDAQ stock exchange turned out to be a bit of an anti-climax, with shares closing at almost the same level as the US$38 IPO.

In an overnight release, Facebook has confirmed the IPO price for its new shares.

According to a recent poll, half of Americans think that Facebook is nothing more than a passing fad.

Just to compound the woes of everyone involved, it appears departing Yahoo! CEO was diagnosed with cancer last week.

Even Facebook can't decide what its worth, and the analysts are getting cold feet too.

Scott Thompson is attempting to portray his Yahoo! bio 'error' as a sin of omission, rather than commission.  It seems few believe him.  Falling on his sword over the weekend suggests he didn't believe it himself, either.

One of the problems with telling a rather public fib is that one has to keep on telling it in order to maintain the status quo.  So it was with newly-appointed Yahoo! CEO Scott Thompson.

Apple's run of record-setting quarterly reports continues. New second (March) quarter records were set for iPhone, iPad and Mac sales.

Telecom New Zealand has named its former COO Simon Moutter - currently CEO of Auckland Airport - as CEO and managing director. He will replace Paul Reynolds on 1 September.

Foxtel's acquisition of Austar has been completed: the company will be delisted from the ASX today and its long-serving CEO, John Porter has taken on a new chairmanship role, his second.

Listed software company Reckon Ltd has announced it has spent $660,000 for a 30 per cent stake in local start-up Connect2Field Holdings which makes an app for smartphones to provide cloud based job management and scheduling. The move signals Reckon's new direction following the company's recent announcement that its 20 year relationship with Intuit, which owns the QuickBooks and Quicken brands, was drawing to an end.

  With profit margins remaining high and a pipeline of new products, Apple may well be on track for a trillion dollar valuation.  

ISP and telecom service provider Eftel (ASX: EFT) has launched a rights issue to raise $9.27m to pay off high interest rate debt and boost its working capital to enable it to invest in customer acquisitions.

  Much to NYSE's chagrin, it appears Facebook will find a home on Nasdaq.

Here's what Yahoo! CEO Scott Thompson wrote in a letter to all employees in relation to today's mass lay-offs.

Yahoo! has confirmed the widely-reported number of 2000 staff that will be let go. The mass lay-offs is tipped by some to be just the first stage of a major restructure.

The word is - radical head-count cuts at Yahoo, particularly in the International divisions.

IT&T industry veteran, Peter James, has been appointed a non-executive director of Macquarie Telecom.