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Noon News: Facebook IPO May Land Today, Neil Young Hates Digital Music, Amazon May Post Loss in Q1

Today is the day when Facebook may be submitting all required paperwork to regulators for its $5 billion initial public offering. According to the source close to the deal, Facebook has selected Morgan Stanley along with four others - Bank of America Merrill Lynch, Goldman Sachs, JP Morgan and Barclays Capital to handle this IPO.

Neil Young, in a recent interview expressed his sheer dislike for digital music in a rather bold way. Apparently the renowned musician, who some time back used to admire Apple by labelling it as the "Fisher-Price" of sound quality, is now asserting a sarcastic tone towards the digital music trend of current time.

LG will launch a feature phone with three SIM slots in Russia; the LG A290 is the second multi SIM phones we have seen after the one released by Nokia late last year (the X2-02) and Samsung's high end S II Duos. The A290 has an old fashion chocolate bar form factor, a 2.2-inch display with a 176x220 pixels resolution, a 1.3-megapixel camera, a surprisingly big 1500mAh battery and will be on sale for around 75 Euros from the end of the month.

It looks like the Sony LT22i Nypon will be known as the Xperia P when it launches later this month at the Mobile World Congress in Barcelona, together with the Xperia U (ST25i Kumquat) and an unidentified phone codenamed Pepper. The phone, according to a report from GSMArena, which should go on sale from April onwards will cost around 370 Euros and should turn out to be a smaller version of the Xperia S.

Amazon is likely to post a jarring operating loss during the first quarter of the running year, the company has warned. Apparently, the retail giant is expecting its first quarterly result to be somewhere around the $200 million loss to $100 million profit range. According to Amazon, this below-expectation quarterly result can be primarily attributed to a huge number of expansion plans that involved new product lines and new geographical regions.