Facebook is gearing up to launch a couple of new projects. They are testing out a deals option that would be integrated in to their Places feature. And the social network is also launching a new feature called Facebook Friendship Pages. Check out the full details below:

Proview International Holdings Limited (HKG:0334) is threatening to sue Apple over trademark infringement for the term I-Pad. “We will sue them for damages in China and in the US,” stated Proview chairman Yang Rongshan.

The T-Mobile myTouch 4G will start shipping on November 3rd on $199.99 on a 2 year contract. Some other retailers have dropped the price to $150. The myTouch 4G can run on the HSPA+ network. The phone has a 1GHz Snapdragon processor, 5 megapixel camera, Android 2.2 Froyo operating system, and is 720p capable. The T-Mobile myTouch 4G has a customized Sense UI as well. [UberGizmo]

FriendFinder Networks Inc., a subsidiary of Penthouse Magazine has raised $551 million in funding. FriendFinder CEO Marc Bell said that they are preparing to launch 3 big initiatives. “We’re always looking to raise capital to grow the business,” stated Bell in an interview.

Apple Inc. (NASDAQ:AAPL) has removed the white iPhone 4 from their online store. Now the white iPhone 4 won’t be available until Spring 2011. For now Apple will continue to use the white iPhone 4 model in the Apple iPhone 4 image gallery on their website. [MacRumors]

The current street value of Twitter stock is $1.6 billion according to multiple sources. Twitter has about 225 million shares outstanding after a three-for-one stock split earlier this year. Twitter currently trades at $7 per share on the secondary market and there are a couple of funds out there where people can buy shares from employees and investors. The two funds are called Industry LLC and Lowercase RT. The Twitter board of directors does not interfere with first refusal rights either. Twitter had a $1.1 billion valuation after raising $100 million last year. [TechCrunch]

Yahoo! Inc. (NASDAQ:YHOO) has hired Ross Levinsohn as EVP of Americas. Levinsohn will be in charge of advertising sales and partnerships. He will be reporting directly to CEO Carol Bartz. Levinsohn will be stepping down as the co-founder and managing director of equity management company Fuse Capital. Levinsohn was the President of Fox Interactive Media at the time that they acquired MySpace. Before joining Fox, Levinsohn had management positions at AltaVista, HBO, and CBS Sportsline. [CNET]

What happens when you drop a 1,169 pound pumpkin on a car from 175 ft. high? This viral video answers that question. Matt McConkie from Mountain Green grew the pumpkin in Utah. It was calculated that the pumpkin reached a speed of 67.1MPH and it took 3.1 seconds to impact the car. Check out the video below: