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Business social network LinkedIn filed for an initial public offering late Thursday, offering the first public glimpse into the finances of the seven-year-old Web company.

The BBC has confirmed plans to close five of its 32 World Service language services.

The company said Tuesday that it plans to recruit a record number of new employees in 2011, as it pushes forward with an increasingly diverse product portfolio.

Facebook has said it has raised $1.5bn (£900m) from investors, valuing the world's most popular social networking site at about $50bn.

A three-year turnaround plan has helped eBay's earnings beat market forecasts.

Amazon has agreed to buy online movie rental service Lovefilm.

Apple made record profits and record revenues in the run-up to Christmas as shoppers bought more Macs, iPhones, and iPads than analysts predicted.

BP has signed a joint venture with Russian energy firm Rosneft to exploit potentially huge deposits of oil and gas in Russia's Arctic shelf.

The social networking website is getting rid of 500 positions, or 47% of its employees.

Three Harvard graduates are to gamble a $65m settlement they made with Facebook over who came up with the idea for the site, in an effort to get more money.

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