LINKEDIN PLANS TO EXPAND TO SUNNYVALE: SUNNYVALE (AP) — Professional networking website LinkedIn plans to expand its California operation to a new campus in Sunnyvale.
The Mountain View-based company said in a regulatory filing on Wednesday that it has reached a deal to lease 580,000 square feet of space in the city.
It plans to build a new campus there that could accommodate 2,900 workers. The campus is expected to open in July 2014.
LinkedIn spokeswoman Erin O'Harra told the San Jose Mercury News the company anticipates keeping its headquarters in Mountain View. It is also expanding its space there.
FACEBOOK CO-FOUNDER SELLS 450,000 SHARES: NEW YORK (AP) — Facebook co-founder Dustin Moskovitz is shedding another 450,000 company shares for a take of about $8.7 million.
Moskovitz has been selling 150,000 shares a day and disclosing the sales every three days. Including the most recent sale, he still holds more than 130 million shares.
The latest filing, made late Wednesday, covered sales from Monday to Wednesday. He sold shares at prices ranging from $19 to $19.49.
Shares of Facebook Inc., based in Menlo Park, Calif., have been in steep decline since debuting at $38 each in May. Shares hit a new low last week and haven't traded above $20 in two weeks.
Moskovitz, 28, was Mark Zuckerberg's Harvard roommate when they founded Facebook in 2004. He left in 2008 and started the software company Asana.
KONA COFFEE TROUBLE BREWS BETWEEN SAFEWAY, FARMERS: HONOLULU (AP) — A national grocer said it has changed its label on packages of Kona coffee blends, making good on a promise it made last year to a group of Hawaii coffee farmers.
But the Kona Coffee Farmers Association said Thursday Safeway hasn't fully honored that promise.
Last year, Safeway agreed to change the label on Kona coffee blend products sold on the mainland to add the word "10 percent minimum Kona blend." That was after the association called for a boycott of the company's 1,700 stores nationwide because farmers believed the labels were misleading and degraded the reputation of Hawaii's world-famous coffee.
Safeway doesn't sell the coffee blend in any of its Hawaii locations, so the company wasn't subject to a law in the Aloha State that requires labels reflect the percentage of Hawaii-grown coffee, which needs to be at least 10 percent for the state designation.
Instead, the state Department of Agriculture asked Safeway to voluntarily comply with Hawaii's law.
The grocer, which is based in Pleasanton, Calif., agreed and promised to begin selling 100 percent Kona coffee in some California stores.