Finance Feed
Facebook IPO: Insiders Cashing Out
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.
Mixed Results Posted at Chinese Internet Firms
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.
3M Begins Untangling 'Hairballs'
3M, which used to have a convoluted production process for some products, is trying to untangle these "hairballs" to cut costs.
Dish Runs Ads to End All Ads
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.
GM Claims Immunity for Old Cars
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.
Skechers Settles With FTC
Skechers will pay $50 million to resolve allegations it made unfounded claims that its "toning shoes" would help consumers tone muscles and lose weight.
Drug Trial Boosts Hope for Tailored Treatment
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.
Can Tumblr Turn a Profit?
Tumblr founder David Karp switches from building site to seeking ads and sponsors.
Google Tweaks Rankings, Hurting Firms
Google changed its search algorithm last month, seeking to downplay sites it suspects of artificially boosting their rankings. Now some small businesses say they are scrambling to avoid being relegated to the Internet's junk bin.
Boyd to Buy Peninsula Gaming for $745 Million
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.
Wal-Mart Struggles to Think Small
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.
Start-Up Tries Virtual Gambling
A Silicon Valley gaming start-up backed by MGM Resorts International is planning to roll out games that resembling gambling but doesn't allow users to win real money.
Samsung Takes Title From Nokia
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.
HTC Delays Smartphone Launch
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
Maersk Outlook Disappoints
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.
EADS Optimistic Despite Charge
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.
Indian Group to Buy U.S. Health Firm
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.
Feisty New Player in Newspaper Fray
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.
Verizon Wireless to Curb Unlimited Data Plans
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.
Coty Chooses Banks for IPO
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.