Facebook costs may hit $200m

Losses by banks and brokerages due to Facebook’s botched debut on the Nasdaq exchange last month may be as high as $200m (£128m), Thomas Joyce, chief executive officer of Knight Capital, said yesterday. Nasdaq said on Wednesday that it would offer $40m in cash and rebates to clients harmed by its mishandling of Facebook's market debut. “It's underwhelming at best,” Joyce said of the plan during a conference.