Facebook has raised $500 million from Goldman Sachs and a Russian investor in a transaction that values the company at $50 billion, according to people involved in the transaction. As part of its deal with Facebook, Goldman is expected to raise as much as $1.5 billion from investors for Facebook.
Record low yields show the balance of power has clearly shifted from investor to issuer. U.S. non-financial corporations now have $1 trillion in cash, according to Moody’s, and may choose to spend it on mergers and acquisitions or share buybacks, both potentially damaging for bondholders. The risk of leveraged buyouts also is increasing, as high-yield funding costs have been reduced by low underlying rates.
When a misspelling causes havoc, it’s time to take a step back.

Federal officials fielded rumors that the culprit was a single stock, a single institution or execution system, a $16 billion trade that should have been $16 million. But they did not know the truth.
Update: an intro to High-Frequency Trading.