COMPANIES

IPO Lawsuits Merged In Win For Facebook

Commuters pass by Nasdaq headquarters in New York.
Dozens of lawsuits over Facebook's IPO fiasco against Facebook, Nasdaq and various underwriters will be centralized before a federal judge in New York, a panel of federal judges ordered Thursday.
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Kingfisher Airlines

Kingfisher Flights Cancelled On Labor Strike; Shares Fall

India’s debt-ridden private air carrier Kingfisher Airlines cancelled several flights Monday, fearing a number of its striking employees might not report for work. The company’s shares plummeted 5 percent on the Bombay Stock Exchange following the reports.
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Bank Of America Settles Shareholder Suit For $2.43B

Bank of America (BAC.N) said it will pay $2.43 billion to settle a class action lawsuit with investors who held its securities at the time the company announced plans to acquire Merrill Lynch.
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Kingfisher Shares Fall As Lenders Reject Fresh Loans

Spelling more trouble for the debt-laden Indian private air carrier Kingfisher, a consortium of its lenders Friday rejected the company’s Rs. 2 billion working loan request. The company’s shares plummeted over 5 percent in the Bombay Stock Exchange following the reports.
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EU Wants $12B Annual Trade Sanction On US In Boeing Spat

The European Union asked the World Trade Organization on Thursday for the right to impose annual trade sanctions worth up to $12 billion on the United States in retaliation for illegal subsidies to plane maker Boeing (NYSE: BA.N).
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Diageo, United Spirits Confirm Talks On Stake Sale

UK-based Diageo Plc confirmed Tuesday that it was in talks to buy a stake in India’s United Spirits. In a joint London Stock Exchange filing, both the companies confirmed that the talks were on but added that there was no certainty about the deal.

Apple To Downgrade iCloud Storage Sept 30; How It Impacts Customers

Apple plans to downgrade its free iCloud storage offered as complementary space to MobileMe customers. In an email sent to iCloud subscribers, Apple has stated that 20GB storage offered to MobileMe customers and who continued to stay with Apple during iCloud transition will cease to enjoy their complementary services Sept.30.

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