51.com, one of China's largest social networks, is closing a $50 million round and plans to launch a platform for third party developers later this summer, VentureBeat reported.
Twitter has raised a new $15 million round of funding, following a bidding war by venture cpitalists eager to get a slice of the micro-blogging start-up, according to an unsourced report from GigaOm.
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Moody's lost about $1.7 billion in market value on Wednesday after a Financial Times investigation into complex debt instruments known as CPDO's found that a computer glitch led to incorrectly high triple-A ratings for these securities. The attorney general of Connecticut said he was investigating how Moody's had dealt with the possible errors.
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