Facebook, Inc. (NasdaqGS:FB) is reportedly in talks to acquire Waze Ltd. for $800 million to $1 billion. According to Calcalist, due diligence is going on after a term sheet was signed. According to Reuters, officials at Waze declined to comment on the report.

The 41-year-old British advertising executive, Nicola Mendelsohn has just been made Facebook's new vice-president for Europe, the Middle East, and Africa. Mrs. Mendelsohn, who has forged a successful 15-year career working part-time, begins her role at the social media giant in July. The Manchester-born executive - who calls herself a proper Northern lass' - will oversee a team of nearly 1,000, including around 150 in Facebook's Covent Garden office.

Facebook has appointed Karmarama executive chairman and former IPA president Nicola Mendelsohn as its vice president for Europe. She replaces Joanna Shields, who left Facebook's top European job in January 2013 to lead the government's investment group for technology startups, The Tech City Investment Organisation. When she starts her new role in July 2013, Mendelsohn will be responsible for growing Facebook's advertising revenue and improving relationships with brands across Europe, Central and Eastern Europe, Middle East, Africa and Russia. She will report to Carolyn Everson, Facebook's vice president of global marketing solutions. Mendelsohn has served as Karmarama executive chairman for five years, working with clients such as the BBC, Costa, Honda and B&Q. She will step down from the role when she joins Facebook. She is also a former IPA president and currently chairs the Creative Industries Council.