The Washington Post is reporting that The Carlyle Group suffered a $330 million loss Thursday when a Japanese mobile phone company in which it had a big interest filed for bankruptcy protection, the second time in a little more than a year that Carlyle has taken a hit in the highly volatile telecommunications field.

Facebook is on the verge of launching a new location-based feature, allowing users to see the current locations of their friends, in late April.

MTV Games and Harmonix have announced there will be an official Rock Band sequel by the end of the year.

Like many other developers, uLocate works closely with ad networks to monetize WHERE, its free mobile app that is available on a number of carrier networks and Android, iPhone and Palm (NSDQ: PALM).

But WHERE often struggled to keep its fill rates high, and when campaigns ran out, it had to use less desirable banner ads pushing ringtones and wallpapers, said uLocate’s VP of Marketing Dan Gilmartin. Today, the Boston-based company is launching an ad network that it created internally to remedy the problem and has been using since December. The ad network, which it calls the WHERE Ads hyper-local advertising network, is now available outside the company, and is being used by various publishers, including Geocade, Jambase, MocoSpace and Superpages.com.

Part 1 of our unboxing and look at some of the features of the Android-powered HTC Legend, the follow-up to the popular HTC Hero. The Legend features an AMOLED touchscreen display and has a body that is carved from a solid block of aluminum. In this video Russell walks us through the contents of the box as well as some of the features of the phone's Sense user interface.
Watch the video here.

Malicious software for cell phones could pose a greater risk for consumer's personal and financial well-being than computer viruses, say scientists from Rutgers University.

Malware - Mobile phone - Computer virus - Rutgers University - CellPhones