Facebook, the current social networking 'fad' continues to attract significant news coverage. The Wall Street Journal reports that Microsoft has made an approach to Facebook's owners for a 5% share of the business in return to around $300-$500m. This is yet another potential battleground between Microsoft and Google (as well as possibly Yahoo!) to gain a share of the high traffic web properties. Microsoft's main aim at the moment may just be to keep Facebook away from their rivals and then consider ways to make the investment profitable.

At the same time, an article in Advertising Age says that the New York Attorney General is investigating the safety measures in place on Facebook after receiving reports from undercover investigators - posing as underage users - that they repeatedly received sexual approaches through the social network and could also access unsuitable material. Added to this, Facebook was reported to be slow to respond to direct contact with concerns about these issues.