News bites: Facebook plans May IPO

Facebook is preparing for an initial public offering in May, The Wall Street Journal reports. 

Apple CEO Tim Cook visited an iPhone production plant in China, Reuters reports. Apple has come under fire for the working conditions in the factories that supply its products.

Half of all American households own at least one Apple product, according to a CNBC poll.

European lawmakers extended price controls for mobile phone rates and enacted new caps, The New York Times reports. 

Concerns that there is a growing phenomenon of employers demanding workers' Facebook passwords might be overblown, The Hartford Courant reports.