- - Thursday, May 24, 2012

NEW YORK

NEW YORK — Facebook’s rocky initial public offering hasn’t stopped life at the world’s biggest online social network. On Thursday, the company unveiled a camera app for the iPhone.

The app can be downloaded from Apple’s App Store and works like most other camera applications for smartphones. To take a photo, you tap a camera icon in the upper left corner of your screen, aim and shoot. You can then add filters, crop or tilt your photo, and share it on Facebook.

The new app is similar to Instagram, the photo-sharing app Facebook is in the process of buying for $1 billion. The acquisition, however, has not yet been completed.

Facebook didn’t give details on when it might release a version of the app for phones that run on Google’s Android operating system.

RHODE ISLAND

Schilling video-game firm lays off all workers

PROVIDENCE — Former Boston Red Sox pitcher Curt Schilling’s faltering video-game company has laid off its entire staff after accepting state subsidies to move to Rhode Island.

An email sent by the 38 Studios company to workers and obtained by the Associated Press says they were notified of the “non-voluntary and non-disciplinary” layoffs Thursday.

38 Studios moved from Massachusetts in 2010 after Rhode Island offered a $75 million loan guarantee officials said would bring jobs and tax revenue. The company was late this month on a $1.1 million payment to the state economic development agency.

The state could be responsible for paying some of 38 Studios’ debts should it collapse. Messages left with Mr. Schilling on Thursday were not immediately returned. Mr. Schilling also pitched for Baltimore, Houston, Philadelphia and Arizona.

BRAZIL

Repsol reports big oil find off Brazil’s coast

SAO PAULO — Spanish oil company Repsol says an offshore block near Brazil’s coast contains at least 1.2 billion barrels of oil equivalent, one of the globe’s largest finds this year.

The company said that testing confirms the potential of the well.

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