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Citi says to cut IBD bonus by 30%.

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Facebook could file for an IPO as early as Wednesday
Menlo Park, Calif., USA

Fri Jan 27, 10:18 a.m. PST: +The Wall Street Journal reports that Facebook is close to picking Morgan Stanley as the lead underwriter for its initial public offering, according to sources. Facebook could file papers for the IPO as early as this coming Wednesday.

The company is currently looking at a valuation of $75 billion to $100 billion, a source said.

Today's Top News: Spanish unemployment data(22+%), Nokia quarterly earning -1.07bil, US GDP fall short of Fed's expectation +Jenny Jia
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