Friday newspaper round-up: LinkedIn, Strauss-Kahn, Fred Goodwin

20th May 2011 00:54

The spectre of the dot-com bubble has re-emerged after shares in LinkedIn more than doubled on their debut in New York to value the fledgeling business at $9bn. The professional social network admitted that it did not expect to make a profit this year and reported $16 i in earnings for 2010, reports the Times.Dominique Strauss-Kahn will be tried for the alleged attempted rape of a hotel chambermaid, but he is to be released from the notorious Rikers Island jail on $6m bail, he learnt last night. The disgraced politician, who resigned yesterday as the head of the International Monetary Fund, was told by a judge in New York that he would be under armed guard 24 hours a day in an apartment in Manhattan until least until the next hearing on June 6, the Times reports.The International Monetary Fund is facing growing pressure from emerging economic powers and campaigners to appoint a non-European as Strauss-Kahn's successor. China and Brazil have demanded that the succession process be handled in a fair and open way, and are calling for an end to the status quo under which a European has led the IMF since its creation in 1945, the Guardian reports.Sir Fred Goodwin had an affair with a senior colleague that could have affected his judgment as the Royal Bank of Scotland collapsed, MPs claimed last night. For the first time, the public learned that Sir Fred took out a privacy injunction to cover up an affair he was having with a senior woman executive as he led the bank to a disaster that ultimately cost the taxpayer £45bn, the Daily Mail reports.Oil producers need to open the taps and increase supply to protect the global economic recovery, the International Energy Agency (IEA) said in a rare formal statement yesterday. The Paris-based body, which speaks for the big oil consumers in the West, issued the warning ahead of next month's meeting of the Organisation of Petroleum Exporting Countries (Opec), reports the Independent.Amazon.com says it is selling more e-books for its Kindle electronic reading device than paperback and hardback print editions combined, helping its book business to see its strongest growth in more than a decade. The news that the online retailer has sold more than three times as many Kindle books so far this year as in the same period of 2010 came as the Association of American Publishers reported that US e-book revenues had grown 146% in March over the same month a year earlier, the Financial Times reports.Please note: Digital Look provides a round-up of news, tips and information that is impacting share prices and the market. Digital Look cannot take any responsibility for information provided by third parties. This is for your general information only as not intended to be relied upon by users in making an investment decision or any other decision. Please obtain a copy of the relevant publication and carry out your own research before considering acting on any of this information.