LinkedIn’s share price climbed through Friday, rocketing its market value to $9.1 billion, or about 24 times its 2011 revenue, if first-quarter sales keep pace. The sale suggested a huge appetite for social-media stock. The ticker is LNKD.
BP’s $16 billion deal to explore the Arctic with Rosneft, Russia’s state oil company, collapsed after BP failed to get joint venture partners at TNK-BP on board.
Google, with $37 billion in cash on hand, moved into the bond market with a $3 billion sale to pay back short-term borrowings at relative yields comparable to companies with the highest credit rating. Chief executive Larry Page is ramping up spending to expand in mobile and video advertising even as U.S. and European authorities investigate Google’s business practices.
World Trade Organization
upheld U.S. allegations that Airbus benefited from improper government subsidies. The ruling marks a final step in a protracted battle between the United States and Europe over government support for Boeing and Airbus.
Amazon, the largest online retailer, said sales of e-books have overtaken those of printed versions for the first time. It sells 105 e-books for every 100 printed ones.
Citigroup awarded chief executive Vikram Pandit a $23.2 million retention package. With profit sharing, he could take in much more.
Nasaq and ICE’s $11 billion hostile bid for the New York Stock Exchange was killed by the Justice Department, which said it would create a near monopoly. That leaves Deutsche Boerse’s original bid for NYSE in play.
NFL owners can continue to lock out players while they appeal an order to end the lockout, a judge ruled.
Berkshire Hathaway bought a stake in MasterCard in the first quarter and reduced its stake in ConocoPhillips.
BP and ConocoPhillips scrapped a $35 billion project to build a natural gas pipeline from Alaska to the lower 48.
Sony chief Howard Stringer said he could not guarantee the security of the company’s videogame network, cited “bad new world” of cybercrime.
Amtrak’s chief said losses for the government-subsidized rail system would increase this year, despite growing ridership.
The European Commission raided offices of the world’s biggest shipping lines in an antitrust investigation.
Mitsui, which had a 10 percent interest in the blown out Macondo well, agreed to pay BP $1.1 billion to help cover costs of the Gulf oil spill.
Spyker Cars, the Dutch automaker that owns cash-strapped Saab, said Chinese auto dealer Pangda Automobile Trade agreed to buy a stake, four days after a deal with Hawtai Motor Group collapsed. Pangda will take a 24 percent holding in Spyker for $92 million.