Money Matters - Simplified


Facebook buys Sun’s campus, on rapid expansion spree

Facebook, which recently beat Google to be the most-visited site of 2010, has bought Sun’s old campus in Menlo Park, as a part of rapid expansion spree by the social networking giant.

U.N.: World farmland disappearing

United Nations -- The world is losing 75 million acres of farmland a year due to environmental degradation, conversion to industrial use and urbanization, a U.N. report says.

The loss will have dramatic consequences for hundreds of millions of farmers, fishermen and indigenous people, Olivier De Schutter, the U.N. special rapporteur on the right to food, said in a report presented Thursday before the U.N. General Assembly.

"Today, 500 million small-scale farmers suffer from hunger partly because their right to land is under attack," De Schutter says.

"As rural populations grow and competition with large industrial units increases, the plots cultivated by smallholders are shrinking year after year," he says.

Wildfires contained in sourthern France

Marseille, France -- Thousands of acres of forests have been destroyed by wildfires in France that also burned houses and cars, authorities said.

Firefighters said late Tuesday the fires burning in the south of France near the cities of Marseille and Montpellier had been contained, Radio France Internationale reported.

No injuries were reported, but the flames destroyed three homes, a warehouse, a plant nursery and at least 10 cars, officials said.

Water-dropping aircraft halted the advance of the fire Tuesday near the coastal town of La Ciotat about 6 miles from Montpellier.