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Finance Latest News: Facebook Shares Finally Above IPO

Wochit 0:56 mins

It's finally happened. Some fourteen and a half months after its IPO, Facebook shares closed above its IPO price of $38/share for the first time since the date of its IPO. Investors who bought shares in Facebook's IPO and held until now are a whopping 5 cents in the money. The Bank of Japan is expected to keep monetary policy on hold, as its unprecedented easing and government stimulus gradually spread through the economy. Joe Kaeser, the new chief executive of German engineering group Siemens, told a newspaper he played no role in the ousting of his predecessor Peter Loescher. German daily Nuernberger Nachrichten quoted Kaeser as saying in an excerpt of an interview, "I worked very well with Mr. Loescher and was not involved in his replacement."

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