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Facebook has announced a major revamp of how users control their privacy on the site. Among the changes, items posted online will each have their own sharing settings determining who can see them. It is the latest in a long line of attempts by Facebook to streamline how members manage their personal information.

For most people, logging into Facebook on your birthday means feeling like the most popular person in the world. Notifications flood your inbox, new wall posts appear with each page refresh and everyone seems to "like" anything you say.

Apparently, "Anonymous" won't be accepting your friend request.

Facebook announced Tuesday that it was acquiring Push Pop Press, an interactive digital e-book publisher, although Facebook said it did not plan to enter the book industry.

ComScore and Nielsen are introducing rating systems for Facebook, to help advertisers better compare the social-networking site to traditional advertising outlets such as TV and print.

Gizmodo reader Tal Ater agreed that Facebook's new chat system is a clusterzuck of confusion, so he created a little program to fix it! It will take off the list anyone who's offline.

Investors pile into Internet IPOs and start-ups, making overnight millionaires. House prices and salaries soar. Another dot-com bubble? Maybe, but with differences. As she unloaded groceries in the driveway of her Palo Alto home, Lisen Stromberg was approached by a real estate broker who asked whether she'd be willing to sell her five-bedroom house to a senior Facebook executive.

Despite new ownership and an injection of Justin Timberlake celebrity cachet, the bad news just keeps coming for Myspace.

Could social networking company Facebook Inc.’s big news on Wednesday be a partnership with Internet video calling firm Skype Limited? That’s the word on the street, according to reports. The partnership would allow friends to chat with each other, and potentially give it an edge over Mountain View-based Google Inc. (NASDAQ:GOOG), which has launched its own Google+ social networking service.

Skype and Facebook have both declined to comment. But an announcement is expected at 10 a.m.

Speaking to reporters on Thursday, Facebook’s CEO Mark Zuckerberg said that the social network has plans to “launch something awesome” next week. There’s no official word on what will be announced, but we suspect it’s going to be the new iPhone photo-sharing service that we saw just last week.