
7:17am: Facebook says in SEC filing that it plans to sell 421 million shares in IPO later this week, could raise up to $16 billion. More

Shares of retailer J.C. Penney plummet after quarterly results show same-store sales dropped 19% in first quarter of 2012. Company cuts dividend.
A few unhappy, activist shareholders of JPMorgan Chase sound off outside the bank's annual meeting in Tampa, Florida.

Failure to form new coalition Greek government means new vote, increasing chances for anti-austerity party victory and Greece's exit from euro zone.

President Clinton on Tuesday said balancing the budget and getting a debt deal should dominate fall elections.

Dimon, who also serves as the bank's chairman, is facing shareholders who have seen the company's stock decline by more than 11%.

The firm's fall from grace offers a look into how the once genteel, clubby world of law firms has taken on a hustling business culture of free agent partners.
As Facebook became the number one social network, other sites like MySpace and Friendster fell by the wayside.
Republican Speaker of the House says Americans are sick of Washington 'kicking the can down the road' when it comes to solving our debt crisis.

Coty withdrew its $10.7 billion bid for Avon, which is now expected to pursue a turnaround on its own. Coty will likely pursue an IPO and new acquisitions.
Treasury secretary says big trading loss by JPMorgan shows need to implement Dodd-Frank Wall Street reform to police big banks.

Why are so many investors clamoring for a risky IPO while many pros are fleeing stocks and seeking safety in bonds?