 | Good afternoon John |  |  | Microsoft's board stood behind CEO Steve Ballmer, defending its longtime leader after influential hedge fund manager David Einhorn touched off a debate by calling for his dismissal. The fund manager, who made his name warning about the financial health of Lehman Brothers before the investment bank's collapse, accused Ballmer on Wednesday evening of being stuck in the past, launching the sharpest attack yet by a high-profile investor against the company's leadership.
Google and four bank and telecom partners unveiled "Google Wallet" and "Google Offers", taking U.S. shoppers a step closer to paying by waving their mobile phones at the checkout counter. Designed to work as an app on Android phones, it hitches a ride on MasterCard's "PayPass" technology, which lets shoppers tap cards for payment. Google has signed up retailers including Macy's, American Eagle Outfitters and Subway to blend the service with loyalty programs and discount offers.
Google, MasterCard, Citigroup, First Data and Sprint will make the service available this summer to people in New York and San Francisco.
LinkedIn will seek out opportunities in China to capitalize on its massive user base even though it sees the market as complicated, a company executive said. LinkedIn has a small presence in the country and is one of the few foreign social networking sites to still have access to Chinese Internet users.
Two Democratic political consultants may proceed with their suit alleging that The Huffington Post's founders stole their idea for the news website, a New York judge has ruled. The attorneys for co-founders Arianna Huffington and Kenneth Lerer and TheHuffingtonPost.com had asked the court to dismiss the complaint filed by the consultants, Peter Daou and James Boyce, who alleged that the defendants broke their promise to work with them to create the site. | | | LATEST NEWS | | Lockheed network suffers major disruption: sources | | May 26, 2011 04:24 PM ET | | WASHINGTON/BOSTON (Reuters) - Lockheed Martin Corp, the Pentagon's No. 1 supplier, is experiencing a major disruption to its computer systems that could be related to a problem with network security, two sources familiar with the issue said on Thursday. | Full Article | | Facebook, Zuckerberg say ownership suit a "fraud" | | May 26, 2011 04:34 PM ET | | CHICAGO (Reuters) - Facebook Inc and its founder Mark Zuckerberg urged a court to throw out a lawsuit by a New York man claiming a 50 percent ownership stake in the social networking website, calling the lawsuit "a brazen and outrageous fraud." | Full Article | | Republicans, Democrats skeptical of AT&T deal | | May 26, 2011 03:27 PM ET | | WASHINGTON (Reuters) - Lawmakers from both sides of the aisle expressed skepticism on Thursday that AT&T's proposed buy of T-Mobile USA would lead to the consumer benefits that the wireless company has promised. | Full Article | | Intel might make chips based on non-Intel cores | | May 26, 2011 02:51 PM ET | | LONDON (Reuters) - Intel Corp would consider making chips for rivals, but any proposal to use its advanced manufacturing technology to make processors based on a competing architecture would trigger an "in-depth discussion." | Full Article | | | BUSINESS NEWS
| | Fed balance sheet hits another record size | | May 26, 2011 04:50 PM ET | | NEW YORK (Reuters) - The Federal Reserve's balance sheet expanded to a record size in the latest week, as the central bank bought more bonds in an effort to support the economy, Fed data released on Thursday showed. | Full Article | | IMF threat to withhold Greek aid spooks markets | | May 26, 2011 01:21 PM ET | | LUXEMBOURG/ATHENS (Reuters) - The International Monetary Fund may withhold the next slice of aid to Greece due next month, the head of euro zone finance ministers said on Thursday, spooking markets with the possibility of default. | Full Article | | Top lobbying banks got biggest bailouts: study | | May 26, 2011 03:25 PM ET | | NEW YORK (Reuters) - The more aggressively a bank lobbied before the financial crisis, the worse its loans performed during the economic downturn -- and the more bailout dollars it received, according to a study published by the National Bureau of Economic Research this week. | Full Article | | | | U.S. TOP NEWS | | | | | RELATED VIDEO | | |  |  | | A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today. |  | | Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents. Register Today. |  | | The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day.. Register Today. | | | » MORE NEWSLETTERS | | | ODDLY ENOUGH | | | | | | |
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