May 21, 2012
- A former employee of Yahoo Inc. has pleaded guilty to allegations he leaked inside information about the Internet search firm's earnings and potential business tie-ups for more than a year to a portfolio manager after a chance meeting.
- In a risky but strategic move, British book retailer Waterstones will sell Amazon Kindle e-readers in its stores in the U.K.
- Eaton agreed to buy electrical-equipment supplier Cooper Industries in an $11.8 billion cash-and-stock deal that would significantly expand Eaton's power management business.
- One of Silicon Valley's best-known investors, Michael Moritz of Sequoia Capital, is stepping back from managing the venture-capital firm to deal with an "incurable" medical condition.
- Alibaba's deal to buy back part of Yahoo's stake gives the Chinese company the control it seeks to grapple with mounting domestic competition and logistical challenges in e-commerce.
- A Kodak digital-imaging patent was declared invalid, dealing a blow to the bankrupt imaging company that is trying to squeeze cash from its intellectual property portfolio.
- Nasdaq OMX Group is facing demands from irate brokers and traders that want the exchange group to make up losses driven by its mishandling of Friday's initial public offering of Facebook.
- Scott Thompson has stepped down from the board of data-analysis provider Splunk, his second such departure in the past week since resigning as Yahoo's chief executive.
- Google was given the opportunity to offer remedies in a European Union antitrust case brought by more than a dozen companies, including Microsoft.
- Alibaba Group's long struggle to buy back Yahoo's stake in it is finally coming to an end. Now the hard work begins.