Suggestions for an Apple Shopping List  | Question: What would you do if you had $117 billion? That's the challenge facing Tim Cook, Apple's chief, whose company's cash hoard keeps growing - by about $1 billion a week.
He could hold onto it. He could increase Apple's dividend, which he instituted this year for the first time. Or he could spend it, Andrew Ross Sorkin writes in the DealBook column.
Just last week, Mr. Cook acquired AuthenTec, a mobile security company, for $356 million in cash - a price equal to pocket lint for a company with the war chest the size of Apple's. The real question is whether Mr. Cook would ever spend Apple's money on an “elephant†- Wall Street parlance for a huge deal.
Apple denizens often say that the company is not interested in deal making. It has, after all, invented some of today's most successful consumer products. But that view misunderstands Apple's history: some of its most important innovations were not invented within Apple; they were purchased from other companies.
DealBook '
Tiger Management Helps Next Generation of Funds  | When a top hedge fund manager donated money to start a student-run portfolio at the University of Virginia in 1994, Richard Gerson was one of the few undergraduates to earn a spot managing the six-figure portfolio.
It was the first connection of many that paved his way to the upper echelons of the hedge fund industry.
Mr. Gerson parlayed his college experience into an internship at Tiger Management, the vaunted hedge fund firm run by Julian Robertson. He then helped John Griffin, a top deputy of Mr. Robertson and the sponsor of the investment club, start Blue Ridge Capital.
Now, Mr. Gerson, 37, is building a new firm. Mr. Gerson and his business partner, Navroz D. Udwadia, have raised $1.2 billion for Falcon Edge Capital, according to people with knowledge of the matter. At a time when investors are reluctant to hand over money to unproven managers, Falcon Edge is the hedge fund equivalent of a high first-round draft pick.
DealBook '
Levinsohn Confirms That He's Leaving Yahoo  | Ross Levinsohn, the executive who served as Yahoo's interim chief, confirmed on Monday that he was leaving the Internet company after being passed over to fill the spot permanently.
DealBook '
Borrowing Costs Ease for Spain and Italy  | The two countries benefited from pledges of support by European leaders and the United States Treasury secretary, Timothy F. Geithner, The New York Times reports.
NEW YORK TIMES
Alibaba Is Said to Be Close to Raising $8 Billion  | Some American Internet companies may be unpopular with investors these days, but a Chinese one is finding plenty of takers.
DealBook '
Oracle to Buy Xsigo  | Oracle is extending its recent embrace of the cloud, agreeing on Monday to acquire privately held Xsigo Systems, a maker of network virtualization software.
DealBook '
Chicago Bridge & Iron to Buy Shaw Group for $3 Billion  | The Texas-based engineering company has agreed to buy a rival, the Shaw Group, in a cash-and-stock deal worth $3 billion.
DealBook '
Roper Industries to Buy Sunquest Information Systems for $1.4 Billion  | Roper Industries, an industrial manufacturer, has agreed to purchase Sunquest Information Systems, a maker of diagnostic and laboratory software for $1.42 billion in cash.
Dea lBook '
Cnooc Said to Seek $5 Billion to Finance Nexen Deal  | Cnooc is looking to foreign banks for $5 billion of financing to help pay for its $15 billion acquisition of Nexen, two unidentified people familiar with the matter told Bloomberg News.
BLOOMBERG NEWS
Another Lawmaker Challenges Cnooc's Nexen Deal  | Representative Edward Markey asked for conditions on Cnooc's bid for the Canadian firm Nexen, following a similar challenge by Senator Charles Schumer, Reuters reports.
REUTERS
ING Said to Be in Talks to Break Up Asian Unit  | Bloomberg News reports that the Dutch financial services firm ING “may break up its Asian life insurance operations and is holding talks with buyers interested in the business in different countries, two people with knowledge of the process said.â€
BLOOMBERG NEWS
Rio Tinto Maintains Control of Ivanhoe  | The English-Australian mining firm Rio Tinto said it paid about $935 million for 133.6 million shares of Ivanhoe Mines, allowing it to maintain its 51 percent ownership stake, Reuters reports.
REUTERS
Korea Development Bank Abandons Talks for HSBC Unit  | The Korea Development Bank said it failed to reach an agreement with HSBC over a sale of the European bank's South Korean retail banking operations, Reuters reports.
REUTERS
UBS Profit Falls on Facebook Loss  | The Swiss bank reported a 58 percent decline in its net profit, as the firm was hit by a $356 million loss connected to the botched Facebook initial public offering.
DealBook '
Deutsche Bank Earnings Plunge as Euro Crisis Lingers  | Germany's largest lender said the turmoil made clients reluctant to trade in financial markets, resulting in a 46 percent decline in net income.
DealBook '
BBVA of Spain Reports a Drop in Profit  | BBVA, the big Spanish lender, said its profit in the second quarter fell 58 percent as it set aside provisions for soured real estate assets, Bloomberg News reports.
BLOOMBERG NEWS
2 Japanese Banks Report Contrasting Results  | While the Mitsubishi UFJ Financial Group said its quarterly profit fell 64 percent from a year earlier, the Mizuho Financial Group said its profit nearly doubled during the period, The Wall Street Journal reports.
WALL STREET JOURNAL
An Uncertain Path to Success on Wall Street  | At a gathering of financial industry workers over the weekend, the prevailing mood among those just starting out in the business was one of confusion, New York magazine writes.
NEW YORK
New Chief to Take Reins at Swiss National Bank  | Fritz Zurbruegg, a former civil servant, is stepping up this week to fill a spot that has been vacant since Philipp Hildebrand resigned in January, The Wall Street Journal reports.
WALL STREET JOURNAL
Derivatives Exchange to Overhaul Trading in Energy Contracts  | IntercontinentalExchange is making the changes ahead of regulations intended to bring more transparency to the trading of derivatives, The Wall Street Journal reports.
WALL STREET JOURNAL
A Case Emerges for Mortgage Forgiveness  | The Financial Times reports: “Provisional estimates by the regulator of Fannie Mae and Freddie Mac suggest they could save public money by forgiving certain mortgage debts, according to people familiar wit h the figures.â€
FINANCIAL TIMES
Private Equity Assets Reach a Record  | The private equity industry as a whole oversaw about $3 trillion in assets as of the end of 2011, according to the data collector Preqin.
WALL STREET JOURNAL
Go Daddy Chief to Step Down, as a K.K.R. Executive Steps In  | When the Go Daddy Group announced on Monday that its chief executive was stepping down, the Web hosting company didn't have far to go to find an interim replacement. It plucked an executive from Kohlberg Kravis Roberts, one of its owners.
DealBook '
Private Equity F irm Hires a Former G.E. Official  | John Krenicki, who ran a big energy unit at General Electric, is joining the private equity firm Clayton, Dubilier & Rice in January as a senior operating partner, The Wall Street Journal reports.
WALL STREET JOURNAL
Brazil Billionaire Plans to Take Transport Firm Private  | Eike Batista, a Brazilian mining magnate, said on Monday he intends to spend about $300 million to buy all the shares of the transportation company LLX Logistica, The Wall Street Journal reports.
WALL STREET JOURNAL
Global Infrastructure Partners Unveils $7.5 Billion Fund  | The investment firm Global Infrastructure Partners raised $7.5 billion for a fund to invest in infr astructure, the largest such fund to date, Reuters reports.
REUTERS
Banks Get Tough With Hedge Fund Clients  | Reuters, citing unidentified “industry sources,†reports that big banks that cater to hedge funds are “sifting through their client lists, in some cases demanding higher fees on trading or a greater share of a fund's business, and sometimes telling funds to look elsewhere.â€
REUTERS
Activist Investor Steps Onto a Bigger Stage  | Daniel S. Loeb, who runs the hedge fund Third Point, successfully pushed for a management change at Yahoo, a victory that raises his profile and marks a “new phase†in his career, The Wall Street Journ al writes.
WALL STREET JOURNAL
Hedge Funds Miss a Stock Market Rally  | The stock market has climbed since the start of June, but hedge funds have largely remained on the sidelines, The Financial Times reports.
FINANCIAL TIMES
Venture Capitalist to Start a Hedge Fund  | Rob Chandra, of Bessemer Venture Partners, is reducing his role at the venture capital firm as he prepares to start a $250 million hedge fund known as Avid Park, Reuters reports, citing an unidentified investor in the new fund.
REUTERS
Manchester United Sets Price Range for I.P.O. at $ 16 to $20 a Share  | Manchester United is moving forward with its initial public offering, disclosing on Monday that it is seeking $16 to $20 a share in its return to the public stock markets.
DealBook '
Facebook Faces Fresh Doubts About Advertising  | On Monday, a Long Island start-up said it had discovered that Web robots, rather than actual human users, were far more likely to click its ads on Facebook, raising questions about the effectiveness of advertising on the social network, the Bits blog reports.
NEW YORK TIMES BITS
Restaurant Operator Sets Price Range for I.P.O. Â |Â CKE, which operates the Carl's Jr and Hardees chains, and is backed by Apollo Management, plans to sell 13 .3 million shares at a price of between $14 and $16 each, Reuters reports.
REUTERS
Annie's to Price Secondary Offering  | Annie's plans to sell 3.2 million shares, after the pasta maker went public in March.
INTERNATIONAL FINANCING REVIEW
Venture Capital Firm With a Politically Charged Name  | Bain Capital Ventures, the venture capital arm of Bain Capital, has recently been trying to gain more recognition for its efforts, contacting journalists “just to talk,†The Verge reports.
VERGE
Twitter Introduces a Stock Ticker Symbol Feature  | A new feature allows Twitter users to search for tweets that mention particular stocks, AllThingsD reports. A similar feature is already offered by Stock Twits, a project of the entrepreneur Howard Lindzon.
ALLTHINGSD
Twitter Silences a Critic of NBC  | GigaOm writes: “The episode raises questions about free speech and corporate control of social media platforms.â€
GIGAOM Â |Â DEADSPIN
Medical Debt Collector Agrees to $2.5 Million Settlement  | Without admitting wrongdoing, Accretive Health agreed to settle accusations that it violated a federal law re quiring hospitals to provide emergency care even if patents can't afford it, The New York Times reports.
NEW YORK TIMES
Day Trading Firm Runs Afoul of Regulators  | A firm called Swift Trade has reached a settlement with the Financial Industry Regulatory Authority over an alleged failure to prevent a “pattern of manipulative trading activity,†The Wall Street Journal reports, citing a copy of the settlement.
WALL STREET JOURNAL
The Evolving Contours of Insider Trading  | Two recent cases filed by the Securities and Exchange Commission show how malleable the term “insider trading†can be, Peter J. Henning writes in the White Collar Watch column.
DealBook '
R.B.S. Said to Be in Talks Over Libor Settlement  | The Wall Street Journal reports that the Royal Bank of Scotland is “negotiating a settlement with authorities investigating attempted interest-rate rigging at RBS and other banks, and a deal, including fines, could be announced in the next few months, according to people familiar with the matter.â€
WALL STREET JOURNAL
Inside the Fed, Calls for Pre-Emptive Stimulus  | The argument that the Federal Reserve should sometimes buttress the economy against large, potential risks dates to the era of Alan Greenspan, The New York Times reports.
NEW YORK TIMES
Agency Finds Its Chief Wasn't Too Close to Corzine  | An internal analysis by lawyers at the Commodity Futures Trading Commission found that the agency's chairman, Gary Gensler, did not have a close relationship with Jon S. Corzine, the former head of the failed brokerage firm MF Global. Bloomberg News reports: “They didn't attend each other's weddings, Corzine didn't go to the bat mitzvahs of Gensler's daughters and they haven't socialized together in 14 years.â€
BLOOMBERG NEWS
Chinese Solar Company Reveals Soured Deal  | Suntech Power Holdings, a big manufacturer of solar panels, disclosed a potential fraud by an affiliated company that could stretch its finances to the breaking point, The New York Times reports.
NEW YORK TIMES
Lehman Brothers Raises $4.7 Billion for Payment  | In the second quarter, Lehman Brothers Holdings raised money through derivatives, real estate sales and the settlement of a lawsuit, as it prepares to pay creditors, Bloomberg News reports.
BLOOMBERG NEWS
