Launched in February 2004, Facebook is a social networking service founded by Mark Zuckerberg with his college roommates and fellow students Eduardo Saverin, Andrew McCollum, Dustin Moskovitz and Chris Hughes. Early investors include Microsoft and Hong Kong tycoon Li Ka- shing, through his namesake charitable foundation. Facebook’s US$16 billion initial public offering in May 2012 generated huge investor interest although the shares subsequently slumped in price.
A Bad Week for ... , May 5, 2013
The darling of the social media world reported promising figures for the first quarter, but has found itself defriended by millions of users as it falls out of fashion. Users in the United States, Britain and other key territories no longer like using the website. In the last six months, Facebook has lost nearly nine million monthly visitors in the US and two million in Britain.
The racing trainer was hit in the pocket for a controversial interview he gave to the Post, becoming the first trainer to be fined under a similar misconduct charge in 10 years. Woods was told to pay HK$100,000 by Jockey Club stewards for saying of one of his horses: "There was something very sinister about his run." Yet pre-race and post-race samples showed no evidence of prohibited substances.
Hong Kong hoteliers
The May Day golden week has proved to be anything but for the city's hotel sector. With fewer mainland tourists making the journey, hoteliers cut room rates by as much as 10 per cent, but saw occupancy rates stay at around 80 per cent, the same as last year. Many in the industry say the holiday has lost its shine in recent years.