Business News

• Facebook shares sink 11 percent as reality overtakes hype May 22, 2012
  (Reuters) - Facebook shares sank 11 percent in the first day of trading without the full support of the company's underwriters, leaving some investors down almost 25 percent from where they were Friday and driving others to switch back to more established stocks. […]
• MF Global paid Corzine $8 million in year before collapse May 22, 2012
  (Reuters) - Former MF Global Holdings Ltd chief Jon Corzine received more than $8 million in pay and stock options from the futures brokerage in the year before it went bankrupt. […]
• Departures leave Dewey a shell of its former self May 22, 2012
  NEW YORK (Reuters) - Seventeen more partners at Dewey & LeBoeuf announced their departure on Monday, as the failing law firm considered filing for bankruptcy. […]
• Ex-Yahoo director, fund manager made illegal trades: U.S. May 22, 2012
  (Reuters) - Federal prosecutors on Monday announced insider trading charges against a former Yahoo employee and a fund manager for illegally sharing and trading on secret company information. […]
• Flurry of arguments starts Gupta insider-trading trial May 22, 2012
  NEW YORK (Reuters) - Former Goldman Sachs director Rajat Gupta "threw away his duties" by divulging bank secrets to hedge fund manager Raj Rajaratnam, a U.S. prosecutor said at the start of Gupta's insider-trading trial on Monday. […]
• Jailed Enron's Skilling seeks new trial, cites new evidence May 22, 2012
  (Reuters) - Jailed former Enron Corp. Chief Executive Officer Jeffrey Skilling is seeking a new trial citing "newly discovered evidence," according to court documents. […]
• Apple still dominates world's top brands: study May 22, 2012
  (Reuters) - Apple has maintained its place as the world's most valuable brand over the past year, leading a group of technology-related companies that dominate the top 10, according to a study published on Tuesday. […]
• Wall Street rebounds, but investors dump Facebook May 21, 2012
  NEW YORK (Reuters) - Stocks rose more than 1 percent on Monday, with the S&P 500 snapping a six-day losing streak in a rebound from equities' biggest weekly drop in almost six months, but Facebook slumped in its second session after a disappointing debut. […]
• U.S. lawmakers frustrated in Wal-Mart corruption probe May 21, 2012
  WASHINGTON (Reuters) - U.S. lawmakers investigating Wal-Mart Stores Inc for alleged bribery in Mexico are frustrated by the lack of cooperation they have received from the company, a committee staffer familiar with the investigation said. […]
• Yahoo clears a hurdle, sells Alibaba stake for $7.1 billion May 21, 2012
  SHANGHAI/NEW YORK (Reuters) - Yahoo Inc will sell as much as half of its 40 percent stake in Chinese e-commerce powerhouse Alibaba Group for $7.1 billion, ending years of fractious talks over how to extract value from its most prized asset. […]