Microsoft to Buy Yammer for More Than $1B
Business-software company Yammer has agreed to sell itself to Microsoft for more than $1 billion, according to a person familiar the matter.
H&M Defies Bleak Conditions as Sales Rise
H&M, the world's No. 2 clothing retailer, reports a forecast-beating rise in 2Q sales, defying the bleak conditions of its main markets.
Apple Patent Bid Hints at Changeable iPhone Lens
A U.S. patent application hints that Apple may be toying with the idea of letting picture-loving iPhone users change lenses for the smartphone cameras.
Carlos Slim Buys 8.4% of Argentina's YPF
Mexican billionaire Carlos Slim has acquired an 8.4% stake in Argentina's YPF for $288 million. The shares previously belonged to the Eskenazi family.
Facebook May Seek to Consolidate IPO Lawsuits
Facebook may file a motion seeking to consolidate shareholder lawsuits against the company over its botched IPO, The New York Times reports.
Game Makers Pull Titles from Google+
EA's PopCap division and Germany's Wooga are pulling several games from Google+, marking the latest stumble in the Internet giant's attempt to create a viable competitor to Facebook.
Manchester United Selects U.S. IPO Banks
U.K. soccer giant Manchester United is moving ahead with IPO plans for the U.S., selecting a team of underwriters, including J.P. Morgan, Credit Suisse and Jefferies. The launch timing and listing venue are unclear.
J.P. Morgan Bows to Duration Risk in New CMBS
J.P. Morgan Chase plans to sell about $1.3 billion in commercial mortgage-backed bonds next week that appear to be tailored to address investors' growing concerns about longer-duration securities, investors say.
Nike Unveils Olympic Gear
Nike unveils a slate of track and field uniforms and other apparel that will be worn by U.S. athletes at the upcoming Summer Olympics, gear that will also be available to consumers.
Quest Gets Superior Bid to Insight Venture's Offer
Quest Software receives a superior buyout offer that values the company at up to $2.15 billion, trumping a $2 billion bid from Insight Venture Partners to take it private. Reuters reports Dell is the unnamed strategic bidder.
Nokia Becomes Riskier Partner for Microsoft
Microsoft's partnership with Nokia has turned out to be an even riskier endeavor after Nokia issues another profit warning and unveils a plan for drastic job cuts, Benjamin Pimentel writes.
THE WALL STREET JOURNAL
Toyota, Audi's Hybrids to Compete at Le Mans
There is no race on earth more important to car manufacturers than the 24 hours of Le Mans. On Saturday, Audi will be defending its crown against a new campaign by Toyota.
Hyundai Motor Completes Czech Expansion
Hyundai Motor is lifting production at its Czech plant to full capacity in the final stage of an expansion plan begun last year that saw the addition of a third shift and the hiring of 1,000 more workers.