It's been more than a year since Facebook's stock debuted at $38 in its initial public offering. But after a problematic start and an eventual slide below $20, the company saw its shares reach that initial price in early trading Wednesday, one week after it reported strong advertising revenue.
"Before Wednesday's opening bell, the shares rose as high as $38.05, before settling back down to $37.95," the AP reports. "On Tuesday, the shares closed up 6 percent after coming within pennies of the IPO price."
NPR's business news starts begins with some surprising economic growth.
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GREENE: The U.S. Commerce Department says the economy grew at an unexpectedly swift pace during the second quarter of the year. The Gross Domestic Product, or GDP, grew at an annual rate of 1.7 percent. That compares to the first quarter, when it grew at 1.1 percent. As NPR's Yuki Noguchi reports, this might mean the economy has not been hit hard by the automatic government spending cuts known as sequestration.
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The U.S. economy grew by an annualized rate of 1.7 percent in the second quarter of 2013, according to gross domestic product data released Wednesday morning. The Commerce Department says the rise stems from business investments, particularly in buildings, and an upturn in exports and the civilian aircraft industry.
At 18 years old, American Gabrielle Turnquest has become the youngest person to pass Britain's Bar exams, qualifying her as a barrister. Turnquest is a native of Windermere, Fla. She studied for the exams at Britain's University of Law.
From London, NPR's Larry Miller reports for our Newscast unit:
"The average age to gain a barrister's qualification is 27. Turnquest says she's honored to be the youngest person to become a British barrister. Due to her parent's heritage, she is also called to the Bahamas bar.
Originally published on Wed July 31, 2013 11:43 am
Daniel Chong, the San Diego college student who spent more than four days in a Drug Enforcement Administration holding cell without food or water, has reached a $4.1 million settlement with the U.S. government. The DEA apologized to Chong last year and instituted a review of its practices.
The ordeal, in which Chong was forgotten in a cell after being taken in during a drug raid, caused Chong to become increasingly desperate. At one point, he said last year, he drank his own urine to survive.
Originally published on Wed July 31, 2013 10:57 am
As the sentencing hearing for former Army intelligence analyst Bradley Manning begins today, he faces the possibility of spending many decades in prison. Manning was found guilty Tuesday of 19 counts for giving thousands of classified U.S. documents to WikiLeaks.
Manning, 25, was acquitted of aiding the enemy, the most serious charge against him, which would have put him in jeopardy of a life sentence. He was found guilty of other serious charges, from theft to espionage, for his role in the largest leak of U.S. secrets in history.