Facebook's $1.6 Billion Revenues, Bartz Out at Yahoo, Hong Kong Apple Store Near Opening Day

This and more important news from your Fast Company editors, with updates all day.

Facebook Hits Big Numbers. The world's largest social network isn't just appealing to its 750 million users--but also to its advertisers, who helped Facebook generate $1.6 billion in revenue in the first half of 2011, a source tells Reuters. That's roughly double what Facebook posted last year. --AC

-- Updated 11:42 a.m. EST 

Carol Bartz Out at Yahoo. It appears that Bartz's contentious two-and-a-half year tenure at Yahoo is finally at an end, according to All Things D. CFO Tim Morse is stepping up as interim CEO. Silicon Valley will be closely watching to see who takes Bartz's place and whether they can get the foundering ship moving forward again. --EBB

-- Updated at 07:45 p.m. EST

Nokia Smartphone Shipments Lag. Apple has edged ahead of Nokia on the number of smartphone shipments predicted for this year, according to a new analysis by Digitimes. It's expected to ship 86.4 million smartphones this year, raising Apple's shipment volume by 82% from the 47.5 million units it shipped in 2010. --NS

Apple Store Nears Opening Day In Hong Kong. The first, brick-and-mortar Apple store in Hong Kong is nearing completion. According to Bloomberg.com, "The shop will be Apple's 5th in the China region, which generated about $8.8 billion in the past three quarters or 11% of Apple's total. Demand for Apple products, and for that matter stores remains high in the region, as evidenced by a rash of Fake Apple Stores that were operating without the company's permission. --LK

Sony Hires Security Chief. Sony has hired a new chief information security officer, following the massive hack attacks on its server that began this spring. Philip Reitinger, Sony's new security chief, has worked for Microsoft and the U.S. Department of Defense, and was the director of the U.S. National Cyber Security Center.  --NS

Amazon's Tablet-friendly Website Redesign. Amazon.com has confirmed that they are testing a new website design. From the early screenshots, the decluttered, sleek design seems well suited for tablet browsing of the massive online store--on the iPad, or the new tabet that Amazon is rumored to be developing on its own. --NS

--Updated 09:30 a.m. EST

German Court Swats Galaxy Tab Again. A German court sided with Apple and ruled that Samsung must withdraw its newest Galaxy Tab 7.7 device from display at the IFA show in Berlin, and also withdraw it from sale alongside its bigger 10.1-inch cousin, which has been the target of IP theft allegations by Apple. The 7.7-inch device had been Samsung's big hope to dodge the cloning allegations due to its different size. --KE

Dutch Hack Led To Spying On Iranians. Among the aftermath of a secure certificate theft from a Dutch Net security source it's emerged that around 300,000 Iranians were spied upon, with hackers using the stolen certificates to snoop on their activities on services such as Google and social networking sites. Suspicion is falling upon official sources in Iran, which has allegedly been advising Syria on how to control its rioters using Net censorship. --KE 

Dell, Baidu Partner For China Tablets. Dell is partnering with local search market leader Baidu in China to develop a range of tablet and smartphone devices. The mobile machines will use Dell's expertise gained from projects like its partly cancelled Streak smartphone as well as a "forked" or privately-sub-developed version of Google's OS Android which Baidu will configure for Chinese needs (and possibly then extend overseas). --KE

--Updated 05:30 a.m. EST


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