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Sunday, May 20, 2012         

Business News

NEW YORK » It was barely a "like" and definitely not a "love" from Facebook investors as the online social network's stock failed to live up to the hype in its trading debut Friday.

NEW YORK » Billionaire Warren Buffett's company is making another foray into newspapers, agreeing to buy 63 newspapers from Media General Inc. for $142 million.

NEW YORK » Facebook's initial public offering of stock is one of the largest ever. The world's definitive online social network is raising at least $16 billion for the company and its early investors in a transaction that values Facebook at $104 billion.

SAN FRANCISCO >> Yahoo began closing ranks behind its abruptly reshuffled leadership team Monday, but the company stayed mum on how it would proceed after firing its second CEO in the past eight months.

CHICAGO » Hoping to get in on Facebook's hotly anticipated public stock offering? You'll need Facebook friends at very high levels — or a lot of money.

NEW YORK >> How do you sell Times Square and the Grand Canyon? The Caro­linas and California?

General Growth Properties Inc., the second-biggest U.S. shopping mall owner and the owner of Ala Moana Center, said funds from operations excluding some items rose in the first quarter as tenant sales climbed amid increased consumer spending.

NEW YORK » Collective Brands Inc., which owns the shoe store chains Payless and Stride Rite, is being acquired for about $1.32 billion.

SCOTTSDALE, Ariz. » P.F. Chang's is being acquired and taken private in a deal valued at $1.09 billion. CEO Rick Federico said Tuesday that the deal with Centerbridge Partners LP will give the company greater flexibility in improving its restaurants.

NEW YORK » Apple Inc., the world's most valuable company, trumped skeptics once again by reporting blowout iPhone sales.

NEW YORK >> American Airlines on Tuesday made its most forceful case yet to terminate its labor contracts as the company’s top restructuring official laid out the airline’s bleak finances in bankruptcy court.

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