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| WSJ.com: US Business |
| Facebook IPO: Insiders Cashing Out Thu, 17 May 2012 07:11:55 EDT Some of Facebook's biggest holders are selling up to $3.8 billion in extra shares in Friday's IPO, in some cases at Facebook's request. Goldman Sachs and Tiger Global will now sell as much as 50% of their stakes. |
| GM Claims Immunity for Old Cars Wed, 16 May 2012 23:47:03 EDT GM pushed a lawyer to drop a potential punitive-damages claim involving a prebankruptcy vehicle involved in a fatal accident, asserting a level of immunity in that some lawyers claim is a stretch. |
| GE Capital Resumes Dividend Wed, 16 May 2012 19:56:25 EDT General Electric is again able to take cash out of its hulking finance arm in the form of a $475 million quarterly dividend. |
| 3M Begins Untangling 'Hairballs' Thu, 17 May 2012 03:46:00 EDT 3M, which used to have a convoluted production process for some products, is trying to untangle these "hairballs" to cut costs. |
| Wal-Mart Struggles to Think Small Wed, 16 May 2012 21:57:23 EDT Wal-Mart is slowly rolling out small-format stores in the U.S., giving Target and dollar-store rivals plenty of opportunity to develop their own offerings. |
| Verizon Wireless to Curb Unlimited Data Plans Wed, 16 May 2012 20:30:44 EDT Verizon Wireless will no longer allow customers to keep their unlimited data plans when they upgrade to its high-speed mobile network, known as 4G LTE. |
| Drug Trial Boosts Hope for Tailored Treatment Wed, 16 May 2012 23:22:56 EDT Pfizer's drug Xalkori for adult lung cancer is showing promise against childhood cancers, illustrating how personalized medicine is emerging as a weapon against pediatric malignancies. |
| Skechers Settles With FTC Wed, 16 May 2012 23:46:46 EDT Skechers will pay $50 million to resolve allegations it made unfounded claims that its "toning shoes" would help consumers tone muscles and lose weight. |
| HTC Delays Smartphone Launch Wed, 16 May 2012 21:43:45 EDT HTC faces another setback in the U.S. as the Taiwanese handset maker said Wednesday that a customs review required by a trade body will cause a delay in the launch of a new smartphone |
| Mixed Results Posted at Chinese Internet Firms Thu, 17 May 2012 07:01:21 EDT China's biggest Internet companies are posting mixed results despite the addition of millions of new users each year, pressured by tougher government content restrictions, higher costs and the shift to mobile devices. |
| Google Makes Its Search Engine Smarter Wed, 16 May 2012 18:14:56 EDT Google said it is rolling out an extensive update to its dominant search engine by using troves of data to refine the answers it provides to user queries on specific topics. |
| Can Tumblr Turn a Profit? Wed, 16 May 2012 23:14:29 EDT Tumblr founder David Karp switches from building site to seeking ads and sponsors. |
| Dish Runs Ads to End All Ads Wed, 16 May 2012 23:52:02 EDT Dish Network is promoting its new "Auto Hop" ad-skipping DVR with a marketing campaign that, ironically, uses a TV commercial. Some networks are refusing to run the spot. |
| 'Dallas' Remake to Air on TNT Wed, 16 May 2012 19:24:06 EDT Turner Broadcasting told advertisers at the annual "upfront" presentation that it plans to add 14 new original shows to its TNT and TBS cable networks. They include a remake of "Dallas," with Larry Hagman reprising his role as J.R. Ewing. |
| Deere Beefing Up Output on Farm Strength Wed, 16 May 2012 18:25:46 EDT Deere is speeding its production expansion, brushing aside concerns that the market for its farm tractors and combines has peaked, and offered an improved outlook for the global farm economy. |
| Feisty New Player in Newspaper Fray Wed, 16 May 2012 20:46:36 EDT Todd Vogt, leader of an investor group that recently agreed to buy the San Francisco Bay Guardian, says he may not stop there, and would like to piece together a Bay Area newspaper chain. |
| Maersk Outlook Disappoints Wed, 16 May 2012 21:42:06 EDT A.P. Møller-Maersk poured cold water on the prospects for the global shipping industry in the second half of the year with an earnings outlook that fell well short of investors' expectations. |
| Boyd to Buy Peninsula Gaming for $745 Million Wed, 16 May 2012 22:42:29 EDT Boyd Gaming said it will acquire privately held casino operator Peninsula Gaming at a cost of $745 million and is also refinancing $700 million of Peninsula's existing debt. |
| Coty Chooses Banks for IPO Wed, 16 May 2012 20:23:45 EDT Coty picked Bank of America Merrill Lynch and J.P. Morgan Chase as lead underwriters for an IPO, likely this summer or in early fall. The IPO plan follows Coty's decision to walk away from its offer for Avon. |
| Samsung Takes Title From Nokia Wed, 16 May 2012 21:44:55 EDT Samsung snatched the title of world's largest mobile handset vendor from Nokia in the first three months of the year, confirming Nokia's continued decline as it struggles to keep pace with fast moving competition. |
| Indian Group to Buy U.S. Health Firm Wed, 16 May 2012 20:50:12 EDT India's Piramal Healthcare plans to acquire health-information manager Decision Resources of the U.S. for about $635 million, and Piramal's chairman assailed "an antibusiness feeling" in India. |
| BHP Backs Off Spending Plans Wed, 16 May 2012 14:59:20 EDT BHP Billiton backed away from ambitious spending plans that would have led the company to invest around $80 billion on new projects in the next five years. |
| Ackman Gains Support in CP Railway Proxy Fight Wed, 16 May 2012 11:32:32 EDT Hedge-fund manager Bill Ackman has been racking up shareholder support in his effort to install new board members and replace the management team at Canadian Pacific Railway. |
| Time Warner Cable, Viacom Settle iPad Dispute Wed, 16 May 2012 16:48:01 EDT Time Warner Cable said it will resume live streaming of some Viacom-owned TV channels to customers' iPads following a legal settlement with Viacom. |
| Google Has Date With French Regulators Wed, 16 May 2012 14:36:32 EDT Google is set to meet with French regulators next week as part of a pan-European probe into the search giant's privacy policies. |
| Target Raises Profit Outlook Wed, 16 May 2012 10:32:19 EDT Target Corp. raised its full-year earnings outlook as the "cheap chic" retailer reported that profit for the latest quarter edged up. Sales were stronger than expected, but costs related to its expansion in Canada held down the bottom line. |
| Staples Profit Declines on Soft Sales in Europe Wed, 16 May 2012 10:32:26 EDT Staples' fiscal first-quarter earnings fell 5.6% as the office-supply company grappled with weaknesses in international operations, particularly Europe. |
| Total Ends Elgin Leak Wed, 16 May 2012 19:05:38 EDT French oil major Total said it has stopped the natural-gas leak at its North Sea Elgin platform by pumping heavy mud into the leaking well there. |
| Asian Firms Plan Canada Gas Project Wed, 16 May 2012 12:52:07 EDT Energy companies from China, South Korea and Japan, along with Shell, agreed to ship billions of dollars worth of Canadian liquefied natural gas to Asian markets. |
| EADS Optimistic Despite Charge Wed, 16 May 2012 20:58:53 EDT EADS took a €158 million charge in the first quarter to fix wing cracks in its iconic A380 superjumbo, but the aerospace giant raised its projection for earnings for the full year on increased commercial jet production. |
| Repsol Files Suit Against Argentina Wed, 16 May 2012 10:39:13 EDT Spanish oil firm Repsol YPF said it had filed a lawsuit against Argentina in a court in New York after the country nationalized the company's local unit. |
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| Word of the day |
Merriam-Webster's Word of the Day for May 17, 2012 is:
maffick • \MAF-ik\ • verb
: to celebrate with boisterous rejoicing and hilarious behavior
Examples:
Fans mafficked for hours outside the stadium, celebrating the team's dramatic victory in the division championship.
"In half an hour, after the mildest of mafficking, the last visitors of the exhibition's last day had gone out of the gates and the staff began their final acts of closing up shop." — From an article in The Guardian (London), October 1, 2011
Did you know?
"Maffick" is an alteration of Mafeking Night, the British celebration of the lifting of the siege of a British military outpost during the South African War at the town of Mafikeng (also spelled Mafeking) on May 17, 1900. The South African War was fought between the British and the Afrikaners, who were Dutch and Huguenot settlers originally called Boers, over the right to govern frontier territories. Though the war did not end until 1902, the lifting of the siege of Mafikeng was a significant victory for the British because they held out against a larger Afrikaner force for 217 days until reinforcements could arrive. The rejoicing in British cities on news of the rescue produced "maffick," a word that was popular for a while, especially in journalistic writing, but is now relatively uncommon.