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Facebook is in talks on a potential $1 billion deal to buy the Israel-based GPS mobile navigation app Waze, The Wall Street Journal reported. The report late Thursday, citing unnamed sources, said the discussions were "serious" but that no deal had been finalized. Waze, which claims more than 40 million users, could allow the world's biggest social network to expand its offerings in areas such as driving directions, or avoiding traffic jams or car accidents. Read more here.

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