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Thursday, September 12, 2013

Takeover Digest-New York Times business news - Sept 12, (NASDAQ: FB)

The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. * Several big life insurers are going to have to set aside a total of at least $4 billion because New York regulators believe they have been manipulating new rules meant to make sure they have adequate reserves to pay out claims. The development stems from contentions by insurance companies that states' regulations are forcing them to hold too much money in reserve. ()* Facebook Inc, which has repeatedly tripped over its own feet when changing its privacy practices, has stumbled yet again. The Federal Trade Commission said on Wednesday that it had begun an inquiry into whether the social network's proposed new privacy policies, unveiled two weeks ago, violated a 2011 agreement with regulators. Under that agreement, the social network is required to get the explicit consent of its users before exposing their private information to new audiences. ()

Facebook, Inc. (Facebook) is engaged in building products to create utility for users, developers, and advertisers. Shares of FB traded higher by 3.3% or $1.44/share to $45.04. In the past year, the shares have traded as low as $18.80 and as high as $44.79. On average, 57936600 shares of FB exchange hands on a given day and today's volume is recorded at 72328248.



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