Facebook has announced they'll be bringing ads to all of their mobile apps, including the official Facebook for iPhone app in addition to the new iPad app. Mobile ads will be integrated into the news feed and will roll out immediately. They also plan to introduce premium ads on the desktop logout screen.
Facebook has yet again changed the way the news feed functions and manages content. Love it or hate it, these changes are also starting to appear in the Facebook for iPhone app as well. While there is no update from the App Store, it appears a lot of the changes were made from the back end. Your news feed will now filter most recent news at the top followed by older stories.