Two bits of economic news this morning:
-- Consumer prices overall were unchanged in April, the Bureau of Labor Statistics reports, thanks in large part to a 2.6 percent drop in the price of gasoline.
Strong demand for its first public sale of stock has led Facebook to raise its forecast for how much each share will sell for when the company goes public on Friday.
"We anticipate that the initial public offering price will be between $34.00 and $38.00 per share," the company says in a statement filed earlier today with the Securities and Exchange Commission.
Earlier, the social medial giant had expected shares would sell for $28 to $35 each.
Originally published on Tue May 15, 2012 7:51 am
DAVID GREENE, HOST:
And our last word in business: the passenger door is now closed. Please make sure all your electronic devices have been switched off.
If you're sick of those rules on planes, well, they may be changing a bit. Virgin Atlantic has announced passengers on their new Airbus will soon be able to chat on their mobile phones.