Business News Briefs
Soaring Facebook stock closes above $38 IPO price
Facebook's stock has closed above its $38 IPO price for the first time since the online social networking leader made its debut on Wall Street more than 14 months ago. The shares gained 56 cents to finish Friday's session at $38.05. That's the stock's highest closing price since ending its first day of trading at $38.23 in May of last year. The stock has been soaring since last week when Facebook reported better second-quarter earnings than analysts anticipated.
FDA defining what 'gluten free' means on packages
A label that reads "gluten free" will now mean the same thing for all food, regardless of which kind you buy. After more than a six-year delay, the Food and Drug Administration has set a new standard for labels that will make shopping easier for consumers on gluten-restricted diets. Under an FDA rule announced Friday, products labeled "gluten free" still won't have to be technically free of wheat, rye and barley and their derivatives. But they will have to contain less than 20 parts per million of gluten.
Big cruise lines post data on onboard crime
For the first time, the three largest U.S.-based cruise lines have posted on their websites more comprehensive data about allegations of serious crimes committed aboard ships. The disclosures were made voluntarily but come amid growing pressure from Congress and crime victims for greater accuracy about crime at sea. The postings by Carnival Corp., Royal Caribbean and Norwegian Cruise Line show many more crimes were reported to security personnel than had previously been made public, but still a minuscule number compared with the nearly 17 million people who embark on cruises in North America every year.
Utah farmlands and pastures rise in value
Utah agricultural real estate, including land and buildings on farms, is valued at $1,900 per acre, up 5.6 percent from last year but lower than the national average of $2,900 per acre, a 9.4 percent increase, according to a report released Friday by the Utah Field Office of the National Agricultural Statistics Service. The highest farm real estate values were in the Midwest's Cornbelt region at $6,400 per acre.
Google relaunches Zagat website and mobile apps
After acquiring the crowd-sourced dining guide Zagat in 2011 to much fanfare, Google has launched a revamped website and free mobile apps as part of the brand's rebirth. The new Zagat has launched in nine US cities, with plans to expand to 50 more international destinations in the coming months. For the first time, the app is being offered for free, no registration required.